New Delhi

President Ferdinand Marcos Jr. of the Philippines has officially inaugurated the country's first electric vehicle battery factory, hailing it as a significant step towards a cleaner energy future. This milestone event, which took place on Monday, marks a pivotal moment in the Philippines' journey towards sustainable energy and advanced manufacturing.

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The facility, owned by an Australian company, is set to produce lithium-iron-phosphate batteries, a technology that is increasingly in demand for electric vehicles and renewable energy storage systems. The ambitious project aims to reach a production capacity of two gigawatt-hours of batteries annually by 2030. To put this into perspective, this output could power approximately 18,000 electric vehicles or provide energy storage for nearly half a million home battery systems.

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In his address, delivered via livestream, President Marcos emphasized the importance of this development, stating, "We have worked very hard and tried to do our best to bring this kind of technology to the Philippines with a clear recognition that this is the future." His words underscore the government's commitment to positioning the Philippines at the forefront of clean energy technology in the region.

The President further highlighted the broader implications of this initiative, noting, "As the first manufacturing plant in the Philippines for advanced iron phosphate batteries... it sets the stage for the Philippines to become a player in clean energy storage in our part of the world." This statement reflects the country's aspirations to not only adopt but also contribute to the global clean energy ecosystem.

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Strategically located in New Clark City, north of the capital Manila, the StB Giga Factory Inc. facility is poised to make a significant economic impact. President Marcos outlined the tangible benefits, including the creation of 2,500 local jobs and an annual economic injection of five billion pesos (equivalent to approximately USD 89.2 million).

The establishment of this factory aligns closely with the Philippine government's broader goals of transitioning to renewable energy sources. President Marcos expressed optimism that this investment would serve as a catalyst, helping to "entice more investors in renewable energy facilities in the country." This sentiment suggests a forward-looking strategy to attract further investments in the renewable energy sector, potentially positioning the Philippines as a hub for clean energy innovation in Southeast Asia.