Chinese firm eyes partnership with trike drivers

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Thursday, April 3, 2014

THE Chinese investor, who will be putting up an electronic vehicle manufacturing and assembly plant in Davao City, is eyeing to partner with local tricycle operators, an investment official said.

Davao City Investment Promotions Center (DCIPC) officer-in-charge Ivan C. Cortez said the company is exploring on how tricycle operators can avail of their e-bikes, one of their e-vehicle products.

"One of the schemes that they are considering for this is adopting the rent-to-own scheme for the tricycle operators," he said.


Cortez said the company is eyeing to also partner with a bank for any of the schemes they will utilize.

The Chinese company, which is based in Shenzhen will be investing P1.3 billion for an assembly plant in Bunawan. The construction of the plant is expected to begin this year.

The plant will be utilized for the assembly of electronic bikes, jeepneys, and buses.

Cortez said the company will initially produce the e-bikes to test the market here. The e-bike can run up to 60 to 80 kilometers per hour when fully charged.

When everything turns out good, they will then put up the manufacturing and assembly of the jeepneys and buses.

He also said the company will be sourcing 70 percent of their raw materials locally while the 30 percent will be imported from China.

The plant will be able to generate some 200 jobs per shift for the construction and will eventually reach 1,000 jobs per shift when fully operational.

"They are one of several investors sent by the City Government of Shenzhen, China to venture in the overseas market. If their operations here in Davao City are gaining momentum and success, other investors from Shenzhen will follow them here bringing huge amount of investments,” he said.

Cortez also said Shenzhen is looking closely on the company's progress and operations to see if Davao City is ready to accommodate more investors from Shenzhen. The company is sending reports on their transactions in the city.

Published in the Sun.Star Davao newspaper on April 04, 2014.


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