MANILA, Philippines - Businessman Manuel V. Pangilinan intends to see his group’s venture into electric vehicle (e-vehicle) manufacturing zoom before 2020.
In an interview, Pangilinan told The STAR he is pursuing plans to establish an e-vehicle production plant in the country to cater to the transport sector’s shift to green and more modern path.
“I would like to,” Pangilinan said when asked if he intends to push through in investing for a manufacturing facility for e-vehicles in the country.
“Hopefully in the next five years it will take off. Meralco (Manila Electric Co.) should help promote indigenous manufacturing for e-vehicles,” he said.
Meralco has been supporting the local e-vehicle industry by setting up e-vehicle charging stations in various areas of the country.
Depending on the facility’s size, industry sources said at least $10 million would be needed to establish an e-vehicle manufacturing plant.
Pangilinan, whose group is capable of funding construction of such manufacturing facility, said they would be requiring a partner for the venture mainly for technical expertise.
“First, we are not a vehicle manufacturer to begin with. Second, batteries are important component. Car will not run without a battery so we have to partner with someone with battery technology even with a technical assistance point of view,” he said.