Summary
- President Ferdinand Marcos inaugurated Philippines’ first battery plant for electric vehicles
- Plant is located in New Clark City and expected to create 2,500 jobs
- Facility owned by an Australian company and produces lithium-iron-phosphate batteries
- Plant estimated to have an annual production capacity of 2 GWh by 2030
- Philippines is starting to embrace clean energy technology, with Tesla opening a store in the country
Article
The Philippines recently inaugurated its first battery plant for electric vehicles on September 30, 2024. President Ferdinand Marcos expressed his excitement for the new technology, recognizing it as the future of transportation. The plant is the first of its kind in the country and is expected to position the Philippines as a key player in clean energy storage in the region.
The new EV battery plant is located in New Clark City and is set to create 2,500 local jobs while injecting $89.2 million into the economy annually. The facility is owned by an Australian company and specializes in producing lithium-iron-phosphate (LFP) batteries. By 2030, the plant aims to have an annual production capacity of 2 GWh, enough to power 18,000 EVs or half a million home battery systems.
The Philippines is beginning to adopt clean energy technology such as electric vehicles and home battery systems. Elon Musk’s companies, Starlink and Tesla, have already made their way into the country. While Tesla vehicles are still relatively rare on Philippine roads, the company is set to open a store in Uptown Mall at Bonifacio Global City (BGC), with job listings already available for potential employees.
As the demand for electric vehicles and clean energy solutions continues to grow worldwide, the Philippines is taking steps to position itself as a player in this industry. The establishment of the EV battery plant marks a significant milestone in the country’s journey towards embracing sustainable technologies and reducing its carbon footprint. With the support of government initiatives and private sector investments, the Philippines is expected to make significant strides in the adoption of electric vehicles and renewable energy sources in the coming years.
The development of the EV battery plant in New Clark City signifies a significant opportunity for the Philippines to contribute to the global shift towards sustainable transportation and energy storage. By investing in clean energy technologies, the country is not only creating local job opportunities and stimulating economic growth but also demonstrating its commitment to reducing greenhouse gas emissions and combating climate change. With a focus on innovation and sustainability, the Philippines is poised to become a key player in the clean energy sector in the Southeast Asian region and beyond.
Read the full article here
