US company Envirotech Vehicles plans to put up an electric vehicle production facility in Clark, Pampanga with investments of about $80 million.
“The initial investment that we have scheduled right now to set up, to build the plant is an $80-million investment over the course of over four years,” EVT chief executive Phillip Oldridge said during the lease agreement signing Tuesday.
EVT and Berthaphil Inc., together with Clark Development Corp. as witness, signed the lease agreement for up to 20,000 square meters of land for the planned EV production facility.
Oldridge said EVT, a Nasdaq-listed company, was looking at a total production capacity of up to 2,100 EV units annually. These would include trucks, vans, school buses and jeepneys.
“It will create around 800 direct jobs, spread in manufacturing, green energy and tech side of it. Indirectly, outside of the 800 jobs we’ll have another 250 to 400 jobs including outsourced jobs,” Oldridge said.
He said they decided to put up the EV facility upon the invitation and persuasion of Senate President Juan Miguel Zubiri. Zubiri said the planned facility “marks the start of a very healthy climate of investment in the Philippines.” Alena Mae S. Flores