More global automotive vehicle brands are seeing the big potential of the Philippines as an electric vehicle (EV) market.
Chinese EV brand Omoda & Jaecoo officially launched in the Philippines in Bonifacio Global City (BGC), Taguig City on Tuesday evening, eyeing to open 24 dealerships in the country this year.
Omoda & Jaecoo Philippines chief executive officer Xiantian Shen said the company targets to open dealership networks in Quezon City, Makati City, BGC, Las Piñas, Manila Bay Area, Marikina, Carmona, Dasmariñas, Calamba, Bulacan, Pampanga, Clark, Tarlac, Zambales, Ilocos, Pangasinan, Isabela, Cagayan, Palawan, Bicol Region, Cagayan de Oro, Tacloban, General Santos, and Zamboanga.
To date, the company is operating six dealerships.
“(The) Philippines is a big country among Asian countries… because of this big potential, this is why we set up a subsidiary company here,” Omoda & Jaecoo International chief executive officer Shawn Xu said.
Xu added that the upcoming dealership networks in the Philippines are expected to deliver monthly sales of 500 units within the first half of the year and doubling it to 1,000 sales a month in the succeeding months.
He said establishing a manufacturing plant in the country is always possible as soon as they see a sustainable demand from the local market.
With its official launch, Omoda & Jaecoo also unveiled its full battery-operated models C5, E5, and EJ6, which cost PHP998,000 to PHP1.799 million. (PNA)
