PH eyed as electric vehicles hub in Asean | Inquirer Business
Close  

PH eyed as electric vehicles hub in Asean

By: - Reporter / @amyremoINQ
/ 11:46 PM September 04, 2013

Philippine Utility Vehicle Inc. (PhUV) has teamed up with Teco Electric and Machinery Co. Ltd., one of Taiwan’s biggest conglomerates and the leading industrial motor manufacturer, in a bid to make the Philippines the electric vehicles manufacturing hub in the region.

In a statement, PhUV president Ferdinand Raquelsantos said part of the company’s long term plan was to be present in the regional export market.

ADVERTISEMENT

“In partnership with Teco, we aim to make the Philippines the EV manufacturing hub in the Asean.  We are looking at the possible expansion of Teco’s Subic facility so we will be able to enjoy the benefits of locating in an export processing zone,” Raquelsantos said.

PhUV is investing P100 million in the mass production of electric vehicles for the domestic market. This project was approved by the Board of Investments for registration and incentives. These fiscal and non-fiscal incentives, according to the company, make the project economically feasible.

FEATURED STORIES

“Many EV companies have come and gone in the Philippines but we have stayed on and have remained strong. In 2008, we pioneered in the local manufacture and assembly of electric vehicles and up to now, our eJeepneys are still plying their routes,” Raquelsantos said.

PhUV Inc. vice president Rommel Juan said the bulk of the planned P100 million investment would be used for the setting up of a new mass production line for electric vehicles in a new facility in Maguyam, Cavite. New equipment will be installed and raw materials and other production inputs will be purchased, Juan added.

PhUV has supplied the eJeepneys in the three loops of the Makati Green Route of the Institute for Climate and Sustainable Cities. These were the first eJeepneys to receive the orange license plate from Land Transportation Office and the first to receive a franchise to operate as a mass transport system from the Land Transportation and Franchising Regulatory Board (LTFRB).

The company has also supplied eJeepneys to various private institutions, government entities, resorts, schools and certain local governments units.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: ASEAN, Business, electric vehicles, Philippine Utility Vehicle Inc., phuv, Teco Electric and Machinery Co. Ltd.
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.