Chinese-Korean electric vehicle company e-Future Motors Philippines (PH) Inc. has set up its headquarters in Bacolod City with an initial investment of US$200,000 (around P11.5 million).
It is a subsidiary of Jiangsu Fengchuen New Energy Power Technology Co. Ltd. with a head office in Wuxi, Jiangsu province and a factory in Jiangyin City in China, which manufactures new energy commercial vehicles such as e-jeepneys and battery systems.
Chief executive officer BK Shin, a Korean national, said the investment amount is “just for the making of the company” in Bacolod, where they are proposing to build a manufacturing plant for e-vehicles in the coming years.
“In the future, we will put in more money because we have many things to do,” Shin said at a press briefing at their office on Friday, September 22.
Tapping local transport operators under the Public Utility Vehicle Modernization Program (PUVMP), e-Future Motors PH is arranging the arrival of 36 units of e-jeepneys from China ordered by its first customer from the Philippines, the Cebu People’s Multi-Purpose Cooperative, owner-operator of the modernized People’s Jeep, for the Fortune Towne-Central Market route in the city.
Shin said the e-jeepney units, which will have the look of the iconic Pinoy jeepney, are expected to arrive by the end of November this year.
The utilization of e-jeepney as an environmentally-friendly and cost-efficient modernized PUV would also be introduced by e-Future Motors PH to other cities such as Iloilo, Cebu and those in Metro Manila, he added.
Chief operating officer Robert Cerrada said they will make Bacolod a model and pilot site for the use of e-jeepneys for public transport in the Philippines, which is the dream of Mayor Alfredo Abelardo Benitez.
“We have talks with operators in other cities, but we are starting in Bacolod. Once everything is in place [in] Bacolod, we can go to other cities and replicate what we have done here in Bacolod,” he said.
Benitez first met with the officials of Jiangsu Fengchuen when he joined President Ferdinand Marcos, Jr.’s state visit to Beijing in January.
In July, the mayor and the firm’s chairman Li Longde, signed an investment intention agreement during the launching of e-jeepney in the city. (PNA)