Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
Exclusive: Ghana's John Mahama on his planned presidential comeback
The Philippines has launched its first electric vehicle (EV) battery factory amid the Southeast Asian country’s efforts to transition to renewable energy.
On Monday, September 30, President Ferdinand Marcos inaugurated the facility in New Clark City, north of Manila, in a live-streamed event. The President emphasised the importance of this development, calling it the "future" of clean energy in the country.
“We have worked very hard and tried to do our best to bring this kind of technology to the Philippines with a clear recognition that this is the future,” President Marcos said at the launch.
The factory, owned by Australian company StB Giga Factory Inc., will produce lithium-iron-phosphate batteries with a projected annual capacity of 2 gigawatt-hours by 2030. These batteries are expected to power approximately 18,000 electric vehicles or nearly half a million home battery systems, according to reports by local meda conglomerate ABS-CBN.
"As the first manufacturing plant in the Philippines for advanced iron phosphate batteries... it sets the stage for the Philippines to become a player in clean energy storage in our part of the world," President Marcos added during his speech.
The new facility is also poised to deliver significant economic benefits. According to Marcos, the factory will create 2,500 local jobs and inject five billion Philippine pesos (approximately $89.2 million) into the economy each year.
While Asia is a global leader in EV battery production, with top producers based in China, South Korea, and Japan, Southeast Asia is rapidly expanding its role. In July, Indonesia launched the region’s first and largest EV battery plant in West Java, with an annual capacity of 10 gigawatt-hours, enough to power 150,000 electric vehicles.
The Philippines hopes to become a leading EV battery producer in the coming years. President Marcos highlighted that the launch of this factory aligns with the government’s broader efforts to shift the nation towards renewable energy.
He also noted that the new facility could help "entice more investors in renewable energy facilities in the country.”
