MVP firm allots P1.5 billion for modern jeepneys

MANILA, Philippines — Manuel V. Pangilinan’s modern jeepney operator Byahe will spend more than P1.5 billion to acquire over 500 jeepneys to ply at least 35 routes nationwide by 2027, an official announced yesterday.

Byahe chief executive officer Laurence Bahia said they are planning to increase the firm’s jeepney fleet by an average of 100 every year to own 530 e-vehicles by 2027.

Of the number, Bahia said 40 percent of the jeepneys would be electric vehicles, as the company wants to capture investors looking to bet on sustainable undertakings.

“We have investors who are keen on these e-vehicles. They are looking at the path of sustainability, the reason we are introducing a lot of innovation to make the operation of e-jeepneys viable,” Bahia said.

He said over P1.5 billion would be needed to finance the purchase of the modern jeepneys.

Bahia said these e-jeepneys would be deployed mostly in Metro Manila and Central Luzon. Some will be sent out in the urban centers of Cebu and Davao.

To date, Byahe operates modern jeepneys around Metro Manila, with the highest passenger volume recorded in its Cubao-Divisoria route.

Bahia said the acquisition of new jeepneys would allow Byahe to recruit additional drivers, who will be earning minimum wage with the opportunity for overtime pay.

“We approved four to five hours of overtime daily. That would bring them around P24,000 in net take-home every month,” he said.

“Transportation is not just about running vehicles, it is also about human resources so we have to take good care of our drivers,” he added.

On transport prices, Bahia said Byahe would comply with the Land Transportation Franchising and Regulatory Board (LTFRB)’s directive to increase jeepney fares beginning Oct. 3.

Last week, the LTFRB increased fares for modern jeepneys from P13 to P14.

Byahe, founded by IP Ventures chief executive officer Enrique Gonzalez and former Grab Philippines CEO Brian Cu, serves as an operator of modern jeepneys across seven routes in Metro Manila, Pampanga and Nueva Ecija.