Industrial News

ACMobility, the mobility solutions arm of the Ayala Group and a leader in electric vehicle (EV) infrastructure, is set to expand its charging network across Makati City—one of the leading sustainable cities in Metro Manila. By Q1 2025, Makati will host more than 74 fully operational charging points across 18 locations, including offices, malls, condominiums, and more. “ACMobility is excited to enhance Makati’s mobility infrastructure with a comprehensive charging network, ensuring convenient and efficient solutions for residents and visitors,” said Jaime Alfonso Zobel de Ayala, Chief Executive Officer of ACMobility. “As a key city for our EV ecosystem expansion, Makati [...]

Strategic Manufacturing Agreement to Accelerate New Electric Vehicle Production Globally CLEVELAND, Jan. 7, 2025 /PRNewswire/ -- LAND / LAND Energy, a Cleveland-based electric mobility manufacturer, announces a strategic partnership with Integrated Micro-Electronics, Inc. (IMI), a global multi-national electronics manufacturing group, to produce their new global mobility platform to be announced early in 2025. The operating agreement, signed in December, marks LAND's first expansion into Southeast Asian markets. The partnership leverages IMI's extensive manufacturing capabilities, currently producing both electric and gas motorcycles in the Philippines. This collaboration will enable LAND to efficiently manufacture and distribute their new product across rapidly growing Asian and European markets, where two-wheel electric [...]

THE TOP 1,000 corporations in the Philippines saw a 7.2% increase in combined revenues to P17.8 trillion in 2023, slowing from the previous year as elevated inflation weighed on economic activity. The BusinessWorld Top 1000 Corporations in the Philippines report showed the firms’ aggregate gross revenue jumped by 7.2% in 2023 from P16.68 trillion posted in 2022. The rate of increase was significantly slower than the 21.2% seen in the 2022 edition. BusinessWorld defines gross revenue as the combination of net sales and nonoperating income. Meanwhile, the top corporations’ combined net income rose by 13.3% to P2.04 trillion in 2023 from P1.8 trillion in [...]

  By Eileen Mencias Investments approved by the Board of Investments (BOI) surged by 44% to P1.58 trillion as of November this year. According to the BOI, the increase was driven by renewable energy projects, which accounted for P1.35 trillion. With the BOI’s target of P1.6 trillion in investment approvals within reach, Trade Secretary and BOI chair Cristina Roque credited the Marcos Jr. administration’s macroeconomic policies for the strong performance. “Reaching P1.58 trillion in investment approvals within 11 months is clear proof of our government’s success in fostering a stable and attractive investment climate. These investments will create jobs, support [...]

The Biden administration continues to try to stop China from obtaining US tech, but impacted firms may already have already stockpiles. The US is adding more restrictions on tech exports to China, banning 140 companies as well as the shipment of memory and chip manufacturing equipment to the country, according to reports from multiple news outlets and the US Bureau of Industry and Security. This latest crackdown is expected to take effect on Monday. Commerce Department Secretary Gina Raimondo reportedly called the new rules "groundbreaking and sweeping" in a statement. The Bureau of Industry and Security said the expanded tech ban "will restrict the [...]

On November 26, TCL Zhonghuan announced that it had signed a term sheet with its controlled subsidiary, Maxeon Solar Technologies, Ltd. According to the announcement, TCL Zhonghuan intends to purchase 100% of the equity in SunPower Philippines Manufacturing Ltd., a wholly-owned subsidiary of Maxeon, as well as 100% of the equity and related tangible and intangible assets of Maxeon’s non-U.S. sales subsidiaries. The final consideration will be determined based on financial statements and third-party valuation reports as of August 31, 2024. TCL Zhonghuan stated that MAXN, its controlled subsidiary, is a key layout for the company’s global business development, possessing [...]

As we have seen in the previous columns in this series, manufacturing employment is a better predictor of economic development than manufacturing output. In fact, even today as much as 24% of the labor force in Germany is still accounted for by manufacturing (although it is less than 10% in the US). It has become, however, more difficult for emerging markets like the Philippines to sustain manufacturing employment shares as their incomes rise. As was empirically shown by the ADB study of Dr. Jesus Felipe et al, the scope for the growth of employment in manufacturing is being limited by [...]

United Technologies and Raytheon have agreed to merge, the companies said Sunday afternoon, crafting an all-stock deal that would create a giant evenly balanced between civil aerospace and defense that may be better positioned to handle cost pressures and uncertain prospects in both sectors. The two New England-based industrial stalwarts billed it as a “merger of equals,” but United Technologies investors would control 57% of the company, which will be called Raytheon Technologies, they said in a statement. The combined company would have almost $80 billion in annual sales in 2020, which should push it past Airbus to be the second-largest [...]

The former CEO of Integrated Microelectronics Inc. is joining the board of the operator of the highly-profitable BingoPlus and ArenaPlus. Arthur R. Tan, currently advisor to bilyonaryo Jaime Augusto Zobel de Ayala at AC Industrial Technology Holdings, has been elected as independent director of DigiPlus Interactive Holdings (PLUS). The Harvard and Mapua Institute of Technology alum retired from loss-making IMI last May after steering the Ayala chipmaker for 23 years. Tan replaced Abogado Mardomeo N. Raymundo, Jr. who resigned for personal reasons. Raymundo has been a regular director of PLUS since 2024. Source: https://bilyonaryo.com

FOTON Philippines is managed by United Asia Automotive Group, Inc. (UAAGI), as the exclusive distributor of FOTON vehicles in the country. FOTON offers a wide range of commercial vehicles which includes passenger vehicles, light, medium, and heavy duty trucks, agricultural and heavy machinery. In line with its goal to becoming a full-fledged global brand, FOTON has partnered with world-renowned automotive component brands and corporations the most notable of which are the joint ventures with CUMMINS, USA, for the manufacture and supply of diesel power plants for FOTN’s passenger vehicles and trucks; and with Daimler AG for design and technology. FOTON also has partnerships with [...]