Philips Holdings Co. Ltd., a Korean electric car manufacturer, plans to expand its operations to the Philippines. The expansion is set to bring 10,000 jobs and $10 million in investments. Philips Electric Car chairman Bang Seung Ho and Department of Trade Secretary Ramon Lopez signed the letter of intent in the presence of President Duterte and Philips Electric Car president Enoch Han. This is among the 22 businesses agreements signed during President Duterte’s recent visit to Korea. The agreements amount to $4.8 billion in investments and 50,800 jobs.
With this, electric vehicles can finally gain a foothold in the local transport scene which can be advantageous to our commuters and our environment.
With the cost of electricity to operate it being only 40% of the money you spend on fuel for the same distance traveled, you cannot go wrong with an Electric Vehicle.
With reports from: The Philippine Star and Rommel Juan of Rappler
PHOTOS: Philippine Star, Rappler