Philippines builds its own EV battery plant
The 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.
“We have worked very hard and tried to do our best to bring this kind of technology to the Philippines with a clear recognition that this is the future,” said the Philippines’ President Marcos.
“As the first manufacturing plant in the Philippines for advanced iron phosphate batteries… (it) sets the stage for the Philippines to become a player in clean energy storage in our part of the world,” he added.
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.
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Source: https://www.teslarati.com/ev-battery-plant-philippines/
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