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PH e-vehicle, aerospace firms upbeat

/ 12:48 AM July 22, 2014

An industry association expects sales of electric vehicles in the country to reach P4.44 billion by 2015, about 20 times higher than the P214.2 million recorded in 2013, as the country continues to makes a push for this energy-efficient and eco-friendly transportation.

To help reach such target, the Electric Vehicle Association of the Philippines (Evap) will be presenting this week a roadmap that will outline the strategies and overall direction for the sector.

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This roadmap is expected to help create an environment where the use of electric vehicles is highly promoted, encouraged and supported by both the Philippine government and society that would lead to eco-friendly and efficient transportation.

According to the Department of Trade and Industry, the roadmap focuses on program development, local market build-up, production capacity enhancement, local and export markets expansion, and full integration of electric vehicles in both the local and regional automotive industries.

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“The industry seeks support in the implementation of policies that will attract investments, create a more predictable business environment, establish industry clustering and value chain, enhance competitiveness measures, and integrate resources,” the DTI added.

Meanwhile, the aerospace manufacturing industry, which will be presenting its roadmap on Thursday, expects revenues to grow to $1.4 billion by 2022, as it moves to build international capability and expand markets with government support.

It was also estimated that the number of jobs to be generated by the industry will reach 8,300.

Last year, the aerospace manufacturing industry’s estimated revenue stood at $385 million, employing 2,200 Filipinos who provided support and services to various economic activities. Amy R. Remo

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TAGS: aerospace manufacturing industry, Business, e-vehicles, Philippines, sales
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