MANILA, Philippines — Ayala-led Integrated Micro-Electronics, Inc. (IMI) and US-based Zero Motorcycles inked their partnership on Tuesday, facilitating the construction of the Philippines’ first electric vehicle motorcycle manufacturing site.
In a statement, the Marcos Jr. administration said that the signing of the memorandum of agreement between the two firms will support the country’s push into EV production.
The partnership agreement was signed on the sidelines of President Ferdinand Marcos Jr.’s visit to the United States.
The cooperation agreement will see Zero take the helm in setting up the manufacturing site while IMI assembles Zero’s electric motorcycles, as well as other models, in its Laguna facility “in conjunction with the manufacturing facilities for Zero in California.”
To this end, the partnership is projected to employ 200 workers for the assembly line, expected to manufacture and ship out 18,000 EVs annually.
Mass production is expected to kick off as early as the second quarter of the year.
Shares in IMI currently trade 4.76% up at P5.5 apiece on Tuesday. — Ramon Royandoyan