Yadea Technology Group Co. Ltd, the largest electric motorcycle manufacturer in China, is planning to establish a manufacturing line in the Philippines. This move marks their entry into the country’s vehicle production sector. Talks have already taken place with the Philippine Economic Zone Authority (Peza) and production could start as early as next year if everything goes smoothly, according to Peza Director General Tereso Panga. While Yadea has yet to file an application with Peza, they have expressed their seriousness in doing so. Panga has personally visited Yadea’s manufacturing plant in Vietnam and noted their use of hi-tech equipment, including robotics, in the assembly lines. Furthermore, a UK-based firm is also considering investing in the local electric vehicle industry, specifically in battery production for these eco-friendly vehicles.
Last month, Integrated Micro-Electronics Inc. (IME), a subsidiary of Ayala Corp., signed an agreement with US electric motorcycle manufacturer Zero Motorcycles Inc. to establish a manufacturing plant in the Philippines. This will be the country’s first venture into the local assembly of electric two-wheeled vehicles. IME will subcontract its assembly, battery, and motor production lines from Zero Motorcycles Inc. The agreement projects an annual revenue of $65 million and investments of $250 million over the next five years.
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