Philippines is embracing the world of electric vehicles. On Monday, September 30, 2024, President Ferdinand Marcos of the Philippines inaugurated the country’s first battery plant for electric vehicles.
The new EV battery plant is located in New Clark City. It is expected to create 2,500 local jobs and channel $89.2 million into the economy annually, reported ABS-CBN news.
The new facility is owned by an Australian company and produces lithium-iron-phosphate (LFP) batteries. The battery factory is expected to have an annual production capacity of 2 GWh by 2030, enough to power 18,000 EVs or about half a million home battery systems.
The Philippines is just starting to embrace clean energy technology like electric vehicles and home battery systems. Two of Elon Musk’s companies have already landed in the Southeast Asian country: Starlink and Tesla.
Only a handful of Tesla vehicles grace Philippine roads as some customers have imported them into the country. However, Tesla is building a store in Uptown Mall at Bonifacio Global City (BGC). The company already opened job listings for the site.