South Korean firm to invest P5 billion for electric vehicle plant in Negros

MANILA, Philippines — Korean firm EN-Plus Co. Ltd. is investing P5 billion in electric vehicle (EV) manufacturing in Negros Occidental, according to the Philippine Economic Zone Authority (PEZA).

In a statement, the PEZA said a memorandum of understanding (MOU) was signed by the investment promotion agency with EN-Plus for the manufacture of EVs.

“EN-Plus will be our first electronic vehicle manufacturer to be registered under PEZA where they can avail special incentives for pioneering projects,” PEZA director general Charito Plaza said.

She said the investment would be used to manufacture and operate facilities of electric cars and electric jeepneys in the municipality of Pulupandan in Negros Occidental.

EN-Plus is a company that specializes in firefighting and environmental technology. It manufactures fire trucks and specially equipped vehicles.

The company is now diversifying into the EV business.

Through the MOU with PEZA, EN-Plus CEO and chairman Young Yong Ahn said the company would like to contribute to a better and sustainable world by providing fire trucks and EVs 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,” he said.

As part of the MOU, PEZA would link EN-Plus to other industries and firms for joint investments and other related agreements.

The MOU with the Korean firm is in line with PEZA’s goal to promote economic zone development particularly outside Metro Manila.

“EN-Plus 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 EN-Plus in their commitment and alliance with us towards making the Philippines a clean, sustainable and environment-friendly country,” Plaza said.