THE PHILIPPINE Economic Zone Authority (PEZA) said South Korea’s EnPlus Co. Ltd. became the first electric vehicle (EV) manufacturer to register for special incentives.
In a statement Friday, PEZA said EnPlus is investing P5 billion to manufacture and operate a plant for electric cars and electric jeepneys in Pulupandan, Negros Occidental.
“EnPlus will be our first EV manufacturer to be registered under PEZA, where it can avail of special incentives for pioneering projects,” PEZA Director General Charito B. Plaza said.
According to PEZA, a Memorandum of Understanding was signed between Ms. Plaza and EnPlus CEO Young Yong Ahn on Oct. 21 to help set up EV joint ventures in economic zones.
Under the agreement, PEZA will provide a 30-hectare site in order to attract clusters of prospective suppliers to support the EnPlus plant.
Ms. Plaza said the deal will help spread development outside of Metro Manila.
“EnPlus, a Korean company, is (now) our partner in investing in the countryside and believing in (the) Philippines as an investment haven in Asia,” Ms. Plaza said.
“Using EVs is better for our environment as they emit fewer greenhouse gases and air pollutants than vehicles using petrol or diesel. In the global context, electric cars have yet to be mainstreamed,” she added. – Revin Mikhael D. Ochave