Laguna-based Cirtek Holdings Philippines Corp. on Thursday said it secured the nod of the Philippine Economic Zone Authority (Peza) to manufacture and assemble electric motorcycles and lithium-ion battery packs at its Laguna Technopark in Biñan.
The said approval was given to its unit Cirtek Advanced Technology and Solutions Inc. (Catsi), which announced the launch of its first-ever electric motorcycle assembly and lithium battery assembly facility in the Philippines. The company said it will begin production this year.
Cirtek said it received the Peza approval on Thursday.
“With a steadfast commitment to providing affordable and reliable mobility solutions, Catsi is set to transform the landscape of transportation in the region,” the company said.
The company said it has partnered with one of the largest electric motorcycle and lithium battery manufacturers in China.
“This collaboration brings together the expertise and resources of two industry leaders, guaranteeing that our electric motorcycles meet the highest standards of performance, safety and innovation,” it said.
“Although the Philippines lags behind our neighbors with regard to the adoption of electric vehicles, we expect a big turnaround in the industry very soon.”
Manila-based Asian Development Bank, based on its publication in 2022 about the Electric Motorcycle Roadmap, expects around 300 million units in Asia by the year 2030.
In the Philippines, there are an estimated 18.8 million registered and unregistered gas motorcycles. This is expected to increase by a compounded annual growth rate of 22 percent, the highest in Southeast Asia.
Cirtek said it is targeting target at least 1 million units within three to four years for the domestic market alone, “as we expect most consumer will embrace the electric vehicle especially the 2-wheel as the main transport solution.”
“With the company’s long-standing legacy in the electronics industry, we are poised to introduce new technologies and innovations to the electric mobility sector. Our deep understanding on quality products positions us as a key player in driving advancements within the industry, ensuring that our electric motorcycles not only meet but exceed the expectations of our customers.”