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China’s top electric motorcycle brand Yadea is planning to set up a manufacturing facility in the Philippines.
Tereso Panga, director-general of the Philippine Economic Zone Authority (PEZA) told reporters the Yadea is also bringing its partner for battery manufacturing.
Panga did not disclose the amount of the investment but said the project is big-ticket which could amount to $1 billion.
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Panga said Yadea is in advanced stage of completing documents for registration eyed for the year.
The company is eyeing Batangas as site. Operations will start in 2024.
Panga said Yadea will cater to the domestic market.
Other than China, Yadea also has operations in Vietnam and Thailand.
