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Taiwan firm in JV for electric vehicles

Teco Electric and Machinery Co. Ltd., one of Taiwan’s biggest conglomerates and the leading industrial motor manufacturer globally, is poised to expand its existing manufacturing facility in Subic Bay, Zambales, to produce and sell electric vehicles and components to the local market.

According to its partner, local firm Philippine Utility Vehicle Inc. (PhUV), Teco Electric has laid out a long-term electric vehicle development plan, which included creating new competitive advantages in its EV products, enhancing service and product quality, developing topflight personnel, and creating new EV products for the Philippine market.

The end target is to make the Philippines the manufacturing hub of electric vehicles in the region, PhUV said in a statement.

As part of the initial plans to enter the infant Philippine EV market, Teco Electric and PhUV have submitted a joint bid to produce electric tricycles for the $500-million e-Trike program of the Department of Energy and the Asian Development Bank.
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