Metro Manila (CNN Philippines, May 2) — Ayala-led Integrated Micro-Electronics Inc. (IMI) has inked a deal with California-based Zero Motorcycles for the Philippines’ first e-motorcycle manufacturing site.
The signing of the agreement was witnessed by President Ferdinand Marcos Jr. on Monday, the second day of his five-day working visit to the US.
Under the $65-million deal, the US company would set up the electronic vehicle (EV) motorcycle manufacturing site, while IMI would focus on assembling Zero’s e-motorcycle models in its Laguna facility.
The partnership is expected to create jobs for 200 workers for the business’ assembly line—from manufacturing, packing, and shipping.
The companies target to produce 18,000 electric vehicles annually, catering to Zero’s Europe, Asia, and other foreign markets.
“The Philippines… for us [is] a perfect partner for us to expand our manufacturing. This is a good place for us to build a global manufacturing base,” the Palace said in a statement Tuesday, quoting Zero.
In January, Marcos approved the reduction of tariffs on electric vehicles and spare parts to 0% for a period of five years to encourage motorists to shift to more eco-friendly transportation.
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