THE Electric Vehicle Association of the Philippines (Evap) is in search of investor-partners for the wider use of electric cars as the group continues its push for more funding in the electric vehicle (EV) program.
“We need funders, financing people or angel investors to come in and tie up with credible and reliable EV players to finally catapult the EV industry into the mainstream and achieve economies of scale,” Evap President Rommel T. Juan said in a news statement.
Juan said that with the proliferation of pollutant-emitting public transportation vehicles, environment-friendly “green” vehicles will be a welcome change.
The Evap head, likewise, encouraged interested investors to consult with Evap for prospective supplier-partners.
Evap is keeping a keen eye on multinational companies with a green corporate social-responsibility agenda as possible partners.
“We recommend hooking up with experienced public transport operators such as EVEE-I or MServ,” Juan said.
EVEE-I operates the Filinvest 360 Ecoloop at Filinvest City Alabang, while MServ runs the Ateneo e-jeeps.
Juan said EV operations are viable to long-term investors as it has a return on investment of 24 percent, or a period of about four years.
Evap members are accredited in the Manufacturers, Assemblers, Importers and Distributors program of the Land Transportation Office, which is needed to secure permits and license plates for locally assembled EVs.