WASHINGTON—The Ayala Group's Integrated Micro-Electronics Inc. and Zero Motorcycles based in California have signed a memorandum of agreement for the setting up of the first electronic vehicle (EV) motorcycle manufacturing site in the Philippines, the Presidential Communications Office has said.
President Ferdinand Marcos Jr., who's on an official visit to Washington, witnessed the signing of the MOA.
Among those who attended the meeting for the IMI include Ayala Corporation chairman Jaime Augusto Zobel De Ayala and Automotive and Industrial regional manager Dave Corry.
Zero Motorcycles, on the other hand, were represented by its chief executive officer Sam Paschel and Alex Acket, chief operating officer.
Under the MOA, the US-based firm will lead the way in setting up the first EV motorcycle manufacturing site in the Philippines.
IMI will assemble Zero’s electric motorcycle models as well as other assemblies at its facility in Laguna "in conjunction with the manufacturing facilities for Zero in California."
The IMI-ZERO operations is a pioneering activity for the Philippines for the assembly of an electric motorcycle platform.
The deal is expected to employ 200 workers for its assembly line, from manufacturing , packing and shipping 18,000 EVs per year.
The cooperation agreement has a projected amount of $65 million.
The activity is also seen to support the Philippines’ development of its electric vehicle ecosystem. —NB, GMA Integrated News