Japanese firm invests P4.4-B to manufacture 5,000 e-trikes

A Japanese maker of electric vehicles is investing P4.4 billion in the Philippines to produce 5,000 electric tricycles (e-trikes) by April 2014.

 

In an e-mailed statement, BEET Philippine Inc. on Tuesday said it has committed to invest P4.4 billion to open shop in the country. "The Philippines will become the first country where we hope BEET can make a positive contribution to the environment and to economic development," president and CEO Tokushi Nakashima was quoted as saying.

 

"We are looking to expand our business in Asia, and from there to other regions around the world," he added.

 

BEET Philippine targets to produce an initial batch of 5,000 e-trikes, which are expected to be commercially available by April 2014.

 

The company also looks to hire 1,000 employees and produce 150,000 e-trikes in the next five years.

 

Recently, it registered its e-trike with the Land Transportation Office (LTO), making it the first Japanese company in the Philippines to register an electric vehicle.

 

The LTO-registered BEET e-trike has five main components, such as the lithium ion battery, AC motor, inverter, vehicle control unit (VCU), and battery management system (BMS), which keep the e-trike stable through various road and weather conditions.

 

"BEET continues to gather data from tricycle drivers and this data are used for product development, as BEET E-trikes are designed to meet local needs," Nakashima said.

 

"BEET continually makes efforts to increase driver’s income and reduce fuel expenses to improve the driver’s livelihood and the environment as well,” he added.

 

BEET Philippine was established last March 2013 and is a subsidiary of Japanese marine electrical equipment manufacturer Uzushio Electric Co., Ltd.

 

In March 2012, the National Economic Development Authority approved the P21.5-billion Market Transformation through Introduction of Energy Efficient Electric Tricycle Project to promote sustainable transportation and achieve energy efficiency. http://www.gmanetwork.com/news/story/252818/economy/business/neda-approves-p21-5-b-e-trike-project

 

In December 2012, the Asian Development Bank said it will lend the Philippines $300 million to roll-out of 100,000 e-trikes to replace some of the estimated 3.5 million gas-powered motorcycles and tricycles in the country. – DOR/VS, GMA News