South Korea’s ENPlus to invest USD98.6 million in the Philippines to manufacture EVs, including e-jeepneys

South Korea’s ENPlus to invest USD98.6 million in the Philippines to manufacture EVs, including e-jeepneys

South Korean firm ENPlus has confirmed that it will invest five billion Philippine pesos (around USD98.6 million or RM408.9 million) to set up an electric vehicle manufacturing facility in the Philippine Economic Zone Authority (PEZA) economic zone.

This comes after PEZA director general Charito B. Plaza signed a memorandum of understanding (MoU) with ENPlus CEO and chairman Young Yong Ahn for joint ventures to provide and manufacture fuel-saving EVs, which include electric jeepneys.

“ENPlus will be our first electric vehicle manufacturer to be registered under PEZA where they can avail special incentives for pioneering projects,” said Plaza. “ENPlus will invest PHP five billion to manufacture and operate facilities of electric cars and electric jeepneys in the municipality of Pulupandan (Port of Pulupandan) which is situated in Negros Occidental,” she added.

PEZA will also provide a 30-hectare plot of land to link prospect industries to ENPlus for joint investment ventures and other related agreements for eligible projects.

South Korea’s ENPlus to invest USD98.6 million in the Philippines to manufacture EVs, including e-jeepneys

ENPlus’ primary business involves making fire-fighting vehicles and equipment, but it recently began expanding into EVs, prompting their decision to invest in the Philippines, reports Autoindustriya. Besides fire-fighting products, the company also develops and builds other special purpose vehicles, which will likely be beneficial when making e-jeepneys.

“ENPlus really appreciates partnering with PEZA in supplying electric vehicles,” commented Young. “We are also thankful to the Philippines for [allowing us] to supply more than 100 units of pump trucks, water trunks, aerial ladder and rescue trucks last year in the country,” he added.

“We’d like to make a better world and provide more fire trucks and electric vehicles 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 ended.

ENPlus’ decision to invest in the Philippines is certainly encouraging as the country aims to become a hub for electric vehicles in the ASEAN region. The local House of Representatives recently passed House Bill 10213 (Electric Vehicle Industry Development Act) that is aimed at supporting the development of a national policy and regulatory framework to increase the uptake of EVs in the country.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Amran on Oct 26, 2021 at 12:45 pm

    so with one charge, can drive EV from Manila to Mindanao?

    Like or Dislike: Thumb up 2 Thumb down 5
  • Unknown on Oct 26, 2021 at 12:59 pm

    Many many year ago even without EV the world is shortage of power, now many many years later with some EV adoption the power crunch becomes even more serious. In Pinoyland, power outage is a regular thing now, what happens when going EV it collapses the nation power grid network. What’s the point of preparing for something that can doom the world and indeed human civilisation collapse from global blackouts?

    Like or Dislike: Thumb up 5 Thumb down 1
    • Think twice on Oct 26, 2021 at 3:28 pm

      Influenced by sci-fi movies, thinking EV is the future.

      Like or Dislike: Thumb up 0 Thumb down 0
  • Copy Paste on Oct 27, 2021 at 10:46 am

    Copy paste: “Changing to BEV has very little impact in reducing CO2 to be honest, and research shows it is only contribute to a fraction of it (TED talk: 100 solutions to reverse global warming)
    The biggest enemy is our human consumption behavior, consuming more than we need that causes higher goods manufacturing and production and leads to higher emission from factories, producing food waste that decomposed and emits CO2, deforestation for agriculture land, animal farms, new housing development.
    We might be thinking that we are doing good for the environment by switching to BEV, but as long as our consumption behavior do not change, nothing will change in the long run.”

    Like or Dislike: Thumb up 0 Thumb down 0
  • Roman Domasig Jr on Nov 12, 2021 at 9:50 pm

    How to avail e jeepney

    Like or Dislike: Thumb up 0 Thumb down 0
 

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