The Philippines is lining up the production of 10 new vehicle models even as it also focuses on growing its electronic vehicle (EV) industry.
Trade Secretary Ramon Lopez revealed the addition of the new vehicle models in local production amid the pandemic in his speech at launch of the Make it Happen in the Philippines investment campaign on Tuesday. But he did not give details.
In a press conference also Tuesday, Trade Undersecretary Ceferino Rodolfo said the copper and nickel Leyte ecological industrial zone will be launched next month as part of the development of the EV industry in the country.
Rodolfo said the zone would be able to bring in investments in EVs because a big part of the industry would be dependent on copper wire.
“We are filling in the value gaps and look at opportunities and new industries that would yield the biggest investments,” he said.
According to Rodolfo, while Thailand and Indonesia may be ahead in terms of internal combustion engine, the Philippines can leverage its strength in electronics and also in EVs.
He noted the advantage of having copper and nickel and other products that are used in the production of batteries for EVs. — Irma Isip