Philippines launches first EV battery plant in Tarlac to support locally made electric vehicles
The Philippines' first EV battery plant was inaugurated recently in Tarlac. The project is expected to generate 2,500 jobs.
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| Philippine President Bongbong Marcos graces the inauguration |
New Energy transition in the Philippines!
The Philippines has inaugurated the PHP 7-billion StB Giga Factory in Tarlac. This is the country's first manufacturing plant of advanced lithium iron phosphate batteries often used in renewable energy and electric vehicle industries.
Funded by StB Capital Partners based in Brisbane, Australia, the factory sets the stage for the Philippines to become a major player in clean energy storage in Southeast Asia.
The facility will start its commercial operations next month and is expected to create 2,500 direct and indirect jobs.
President Bongbong Marcos, who led the ceremony, described the facility as a "major investment in a critical industry.
He also said this is the result of the alliance between the governments of the Philippines and Australia and a product of a public-private partnership.
The project is one of the pledges secured during the Philippine Business Forum attended by Marcos on the sidelines of the Association of Southeast Asian Nations-Australia Special Summit last March.
"This facility runs in tandem with the Philippines' renewable energy landscape, as we transition our country to renewable energy," Marcos said.
"We also welcome StB Giga's plan to enter the EV product market in the coming years. This aligns with our plans to develop the country’s EV industry and produce locally-made EVs and EV components, reducing our reliance on imported fuels," he said.
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