Envirotech Vehicles, a company based in California, United States, is set to invest USD80 million (~Php4.3 billion) in Clark, Pampanga.

During the lease agreement signing, EVT chief executive Philip Oldridge said, “the initial investment that we have scheduled right now to set up, to build the plant is an $80-million investment over the course of over four years.”

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The lease agreement for up to 20,000 square meters of land was signed by EVT and Berthaphil Inc., with Clark Development Corp. as the witness. The land will be used for the planned EV production facility.

EVT, a company listed on NASDAQ, wants to achieve a total production capacity of up to 2,100 EVs annually, including vans, school buses, trucks, and jeepneys.

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Oldridge said that it would create around 800 direct jobs that are spread in manufacturing, green energy, and tech. For indirect jobs, the executive said that they will have “another 250 to 400 jobs including outsourced jobs.”

The executive said that they decided to put up an EV facility due to the invitation and persuasion of Senate President Juan Miguel Zuburi, who noted that the planned local facility “marks the start of a very healthy climate of investment in the Philippines.”

Via: GMA News Online

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