Public vehicles such as jeepneys and tricycles are already part of the Filipino society. Sincethe Philippine economy is growing, it is not surprising that foreign companies will continue to invest in the country.
According to the statement issued by the Electric Vehicle Association of the Philippines (EVAP), four foreign electric tricycle (e-trike) companies have successfully set up their businesses in the Philippines. These are the Singapore-based Clean Air Transport Solutions (CATS), the Hong Kong-based Kyto Green Technologies, the Kuwait-based PrimeGreen Power and Technology Inc. and the Canadian-led SunEtrike.
Other electric vehicles (EVs) that have entered the Philippine market are from Japan, Taiwan and United Kingdom.
EVAP president Rommel Juan said that those foreign companies must have seen the potential in the tricycle market. He further noted that if the number of foreign electronic vehicle (EV) investors will rise, the Philippines will probably become an EV hub in Asia.
Currently, the country has more than 3 million gasoline -powered tricycles. The Vehicle Association estimated that at least 1.2 million units from those may be replaced with e-tricycles in the near future.
