According to the Philippine Economic Zone Authority (PEZA), ENPlus Co. Ltd. is investing Php 5 billion to build an electric vehicle manufacturing facility in the country. The South Korean firm will produce, among others, e-jeeps and electric vehicles (EVs) in the Philippines.
PEZA Director General Charito Plaza revealed that ENPlus will be the first e-vehicle manufacturer in the PEZA ecozone. It will be located in Negros Occidental. Its operation will involve primarily the manufacturing of electric cars and electric jeepneys.
Director Genera Plaza and ENPlus Chief Executive Officer and Chair Young Yong Ahn have already signed a memorandum of understanding on Wednesday for the joint venture between PEZA and the South Korean firm.
“ENPlus, a Korean company, is (now) our partner in investing in the countryside and believing in the Philippines as an investment haven in Asia. We appreciate ENPlus in their commitment and alliance with us towards making the Philippines a clean, sustainable, and environment-friendly country,” PEZA Director Genera Plaza said.
PEZA will be providing a 30-hectare land “to link prospect industries to ENPlus for joint investment ventures and other related agreements for eligible projects of PEZA”.
“We’d like to make a better world and provide more fire trucks and electric vehicles to the Philippines. With this, we would like to expand our business in your country to manufacture environment and energy-friendly vehicles starting with your jeepneys since they are the most popular mode of transportation in your country,” Young Yong Ahn said.
The Korean firm ENPlus is a manufacturer of fire trucks and fire fighting equipment, although they are now expanding to EVs in the Philippines.