Meralco to build e-vehicles
Posted May 25th, 2012
by Alena Mae S. Flores & filed under Business.
Power distributor Manila Electric Co. plans to invest in facilities that will manufacture electric vehicles, chairman and chief executive Manuel Pangilinan said Thursday.
Pangilinan told reporters during the 2nd Philippine electric vehicle summit in Ortigas Meralco was supporting the government’s e-vehicle program not only in terms of supplying electricity but also in investing in vehicle manufacturing.
“Our group of companies are prepared to invest in the downstream manufacturing capability of this industry for the sake of this country. It is better for us to build rather than import these vehicles,” he said.
“We will work with the government…[We will build] the appropriate infra to provide the supply of electricity to these vehicles,” Pangilinan said.
Pangilinan said the plan was to tap a partner who could provide the technical expertise on e-vehicles. “We would like to invest in the manufacturing facilities for e-vehicles in this country, not alone, because we are not in this business as such. We would like to explore joint venture possibilities with Filipino partners in manufacturing e-trikes, e-jeepneys, e-buses,” he said.
He said Meralco had been approached by a number of foreign companies about the possibility of putting up manufacturing facilities for e-vehicles.
“We would like to pursue them [manufacturing]. The Philippines should take the lead in the region in the development of the industry,” he said.
Pangilinan said the company was also strengthening its capability to put up the charging stations needed by the e-vehicles.
One company that has expressed interest in partnering with Meralco is Japanese firm Mitsubishi Motors.
Mitsubishi Motor Philippines Corp. president Hikosaburo Shibata said the car manufacturer was studying the possibility of investing in the e-vehicle industry. “We are looking at prospects of working with Meralco and e-charging possibilities,” Shibata said.
Meralco will take an active role in the development of the industry through partnerships with the Asian Development Bank, other financial institutions and the academe, Pangilinan said.