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BOI approves electric vehicle factory | Economy | GMA News Online

A P18.9-million electric vehicle production facility has been approved by the Board of Investments (BOI), the agency said in a statement Friday.

The factory, located in the Cavite Light Industrial Park, is expected to produce 6,000 units of electric tricycles and 200 units of electric jeepneys every year through its 97 personnel.

The approval was sought by the Philippine Utility Vehicle, Inc. (PhUV) as a new domestic producer of electric vehicles. Operations started last month.

With the approval, the company is now eligible for income tax holiday and duty-free importation of capital equipment.

PhUV’s electric jeepney models will use a 5-kilowatt or 7-kilowatt motor and will run for 55 kilometers. It can be charged for eight hours at a cost of P150.
More http://www.gmanetwork.com/news/story/311892/economy/business/boi-approves-electric-vehicle-factory

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