China’s e-motorcycle giant and largest producer of electrified two-wheel vehicles, Yadea Group Holdings, has declared its interest in putting up a $1B (PHP 55.7B) e-motorcycle plant in the Philippines. This massive undertaking could be happening soon, so here are the details.
The aforementioned EV giant already has six production hubs in China and one in Vietnam, adding up to a total output capacity of around 12 million vehicles. Now, Philippine Economic Zone Authority (PEZA) Director-General Tereso Panga told the press that Yadea has already filed an application to establish a factory in Batangas.
He further added that this facility will have an annual capacity of around 3-5 million units that’s targeted towards local buyers, with excess stocks potentially to serve export demand. It’s an optimistic view of the Philippine EV market as adoption here is seen as lucrative enough to set up an expensive plant.
The Philippines, as a country, is no stranger to e-motorcycle units and motor vehicles in general. It’s stated that these islands produced almost 1 million vehicles just last year, with these two-wheeled vehicles providing mobility to millions of Filipinos. These are used as prospective talking points in attracting EV producers to the country – with other points of interest being the nation’s abundant supply of nickel, cobalt, and nickel.
Panga also went on to mention that Yadea is only one of the EV companies interested in setting up shop here. This could provide a boost in the country’s post-pandemic economy, and PEZA as a whole is targeting 10% more investments than last year.
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