WASHINGTON—Starting next year, the Philippines will manufacture battery-powered motorcycles for Europe and other Asian markets after a unit of Ayala Corp. inked a $65-million business deal with an American company.
Along with some members of his Cabinet, President Marcos attended the signing of the memorandum of agreement between Ayala’s Integrated Micro-Electronics Inc. (IMI) and Zero Motorcycles.
Zero Motorcycles, conceptualized in a garage in Santa Cruz, California, makes high-performance electric motorcycles that cost at least P1 million each.
IMI will assemble Zero’s electric motorcycle models in its facility in Laguna in conjunction with the manufacturing facilities for Zero in Scott’s Valley, California.
It will be the country’s first factory to produce electronic motorcycles, according to the Presidential Communication Office (PCO).
“The IMI-ZERO operations is a pioneering activity for the Philippines for the assembly of an electric motorcycle platform,” the PCO said.
The facility will create jobs for at least 200 workers and produce 18,000 electric motorcycles annually starting 2024.The PCO said Zero regarded the Philippines as the “clear choice” for its next manufacturing hub as part of its global expansion.
Ayala Corp. chair Jaime Augusto Zobel de Ayala, who flew here along with other top Filipino business executives, personally witnessed the signing of the agreement just hours before the President met with US President Joe Biden at the White House.
The Department of Trade and Industry said the deal put the Philippines in a better position to be a major export manufacturing hub for electric batteries and vehicles in the region.
“This partnership between IMI and Zero Motorcycles is a testament to the expertise and capabilities of our local manufacturing sector,” Trade Secretary AlfredoPascual said in a statement.
—With a report from Miguel R. Camus and Alden M. Monzon INQ
READ MORE:
IMI to assemble Zero Motorcycles e-bikes
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