The Board of Investments (BOI) approved the Php13.8 million project of K.E.A. Industrial Corporation as a new domestic producer of Electric Vehicles specifically e-trikes.
The K.E.A. Industrial Corporation is 100% Filipino owned and has facilities located in Bacoor, Cavite City. K.E.A, which will start commercial operation in December 2013, employs 24 personnel. The firm plans to produce 70 units of e-trikes annually.
E-trikes are vehicles that run solely by a battery with a 20 hour capacity of 120 Ampere-hour (Ah). An eight (8) hour charging time will last up to 8-10 hours. When fully charged, the e-trike can run up to 60-100 kilometers.
The company has partnered with different LGUs for the “Climate Friendly Cities” program which aims to use energy from organic wastes from the wet markets, business establishments, household and farms to power an environment-friendly public transportation system composed of E-vehicles.
The manufacture and assembly of motor vehicle is one of the priority activities in the country’s Investments Priorities Plan (IPP). The BOI spearheads the inter-agency efforts to annually craft the IPP. The IPP was specially formulated to attract more investments and mobilize private capital in key areas of the economy.
With government plan to develop a national e-vehicle industry, the Asian Development Bank (ADB) has provided a US$300 million project loan facility last year that aims to replace about 100,000 gasoline-based motorcycles in the country with e-trikes. The project will be implemented over a period of five years and could generate up to 10,000 jobs. (END)
Source: DTI Public Relations Office