The Philippines has inaugurated its first electric vehicle (EV) battery manufacturing plant, marking a significant step toward clean energy development in the region. President Ferdinand Marcos announced the opening of the facility on September 30, 2024.
“We have worked diligently to bring this technology to the Philippines, fully recognizing that this is the future,” President Marcos said. He emphasized the plant’s role in establishing the country as a key player in the clean energy storage sector, particularly with its production of advanced iron phosphate batteries.
Located in New Clark City, the new facility is expected to create approximately 2,500 local jobs and contribute around $89.2 million to the economy annually, according to ABS-CBN News. Owned by an Australian company, the plant will produce lithium-iron-phosphate (LFP) batteries. It aims to achieve an annual production capacity of 2 gigawatt-hours (GWh) by 2030, enough to power 18,000 electric vehicles or nearly 500,000 home battery systems.
Interest in electric vehicles is steadily growing in the Philippines as the nation embraces clean energy technologies. Elon Musk’s companies, Tesla and Starlink, have recently begun operations in the country. While Tesla vehicles are currently limited on Philippine roads due to private imports, the company is expanding its presence. Plans are underway to open a store in Uptown Mall at Bonifacio Global City (BGC), with job postings already available for the new location.
Source: EVMAGZ
