The Board of Investments (BOI) has approved the project of CHRG Electric Vehicle Technologies Inc. to produce electric vehicle (EV) fast chargers and retrofit kits, the investment promotion agency bared on Monday.
In a statement, BOI said CHRG invested P3.9 billion for its production facility in the University of the Philippines–National Engineering Center in Diliman, Quezon City.
The facility of the homegrown EV battery maker can produce 12 units of fast chargers and 236 retrofit kits annually once in full operation.
UP Diliman has provisionally authorized CHRG to produce CHarM, or Charging in a Minute.
UP Diliman and CHRG are still finalizing the licensing agreement for the commercialization of CHaRM.
CHRG currently has deployed two fast chargers in Alabang as test commercial units.
CHRG aims to put up its facility outside Metro Manila either in Bulacan or Rizal in the future.
“We look forward that homegrown technologies like this will play a major part in the development of electric vehicles in the country as we gradually begin the transition from fossil-fueled cars to environment-friendly vehicles and aspire to be a manufacturing hub for the EV components,” Trade Undersecretary and BOI Managing Director Ceferino Rodolfo said.
A recent study of Frost & Sullivan shows that the Philippines is one of the countries in Southeast Asia with highest inclination in adopting electric vehicles.
However, the availability of charging infrastructure is also a top concern for EV buyers in the country.The study recommends Southeast Asian nations, including the Philippines, to improve public and private charging facilities as this will be the key motivators for consumers to shift to EVs. SOVEREIGNPH