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Philippines seen as e-vehicle parts manufacturing hub

The Asian Development Bank sees the Philippines becoming a regional manufacturing hub for electric vehicle parts, that is if the government and its partners will be able to successfully pull off the $500-million electric tricycle program.

In an interview with the Inquirer, Neeraj K. Jain, country director of the ADB for the Philippines said the e-Trike project, which will involve the roll out of 100,000 units of electronic tricycles across the country, was an initiative that could generate economic and “transformational” gains not only for tricycle drivers but for a whole new industry—the electric vehicle industry.

Sohail Hasnie, principal energy specialist at the ADB, disclosed in the interview that five to six foreign companies had expressed interest in relocating their factories to the Philippines, after seeing that the government and the ADB were aggressively pushing forward with the e-Trike project.

“These are big names in the industry,” added Jain.

Companies interested in relocating in the Philippines include large battery manufacturers overseas, spare parts manufacturers, motorcycle manufacturers and renewable energy firms.

Jain said these suppliers and manufacturers were willing to relocate because they knew the ADB was involved in the project.

“They know we can do (the same project) in Indonesia, Thailand or Vietnam. In case these companies decide to relocate here, they know we can help them set up a regional market. It becomes a win-win situation—e-Trike drivers earn more, the country saves on costly oil imports, reduces pollution, the country benefits from new (industry), new jobs are created,” Jain said.
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