Philippines Opens First Electric Vehicle Battery Plant

Oct 2024

President Ferdinand Marcos inaugurated the Philippines’ first electric vehicle (EV) battery factory on September 30, 2024, emphasizing its importance for the future of clean energy. The Australian-owned lithium-iron-phosphate plant, located in New Clark City, aims to produce two gigawatt-hours of batteries annually by 2030, which could power around 18,000 EVs or nearly 500,000 home battery systems.

Marcos highlighted the factory’s potential to position the Philippines as a significant player in clean energy storage. The facility is expected to create 2,500 local jobs and inject approximately PHP 5 billion (USD 89.2 million) into the economy each year. This investment supports the government’s goal of transitioning to renewable energy and attracting further investments in the sector.

(ABS-CBN News)

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