Meralco beefs up presence in EV space

MANILA, Philippines — The Manila Electric Co. (Meralco) is set to beef up further its presence in the electric vehicle space.

Meralco said its board yesterday approved the creation of a new subsidiary to engage in providing and integrating end-to-end electric mobility solutions.

No further details were disclosed by the company, but said more details would be provided once the incorporation of the new subsidiary is approved by the Securities and Exchange Commission.

Meralco, through wholly owned subsidiary eSakay Inc., provides end-to-end and tailor-fit electric vehicle and charging infrastructure solutions to private and public sector customers throughout the country, helping them modernize and electrify their transport systems.

eSakay propagates sustainable and green mobility solutions – from the supply of EV and charging stations to the provision of managed services.

Through its Green Mobility Program, Meralco aims to reduce its greenhouse gas emissions and to promote the country’s transition to electrified transport.

As part of its heightened sustainability commitment, the company has laid out plans to electrify 25 percent of its vehicle fleet by 2030.

Meralco is targeting to reach seven to eight percent fleet electrification by year end.

Meanwhile, Meralco also announced yesterday the election of Jose Ma K. Lim as new member of the finance committee of its board.

Lim has been a director of Meralco since May 2012.