Industry Association Led Power Battery Companies to Speed up “Entering” the Philippines
Following Premier Li Keqiang's visit to the Philippines and signing 14 cooperation agreements with the Philippines, the pace of Chinese power battery companies entering the Philippines is also accelerating。 A few days ago, China's Chemical and Physical Power Industry Association Power Battery Application Branch Secretary General Zhang Yu had preliminary discussions with the Philippine Embassy’s Commercial Counsellor GLENN G。 PENARANDA on how to carry on the cooperation between power battery enterprises in China and the Philippine side。
According to Mr. Glenn PENARANDA’s, the Philippines is encouraging the shift from the traditional fossil energy to the environmentally friendly clean energy, and the development of electric vehicles will be one of the approaches for energy transformation. He said the Philippines had been implementing a car manufacturing program that is currently dominated by Japanese brands. As the GDP growth rate of the Philippines has continued to strengthen in recent years and currently, the GDP per capita has reached more than US$2,000.The higher per capita GDP has also changed the consumer philosophy of the Philippines, including motorization to motorcycles and on to four-wheeled vehicles. According to Mr. Glenn PENARANDA, based on a survey of aspirations in the next 40 years, every Filipino family basically hopes to own a car.
Ms。 Zhangyu expressed that the energy conversion in the Philippines, the long-term development of the automotive industry and the growing demand for transportation, will provide a good opportunity for Chinese power battery enterprises to enter the Philippine market。 The important influence of China power battery industry in the world and the comprehensive and rapid development of its industrial chain will also provide strong support for the development of the Philippine new energy automotive industry。 The members of China's Chemical and Physical Power Industry Association Power Battery Application Branch are from the domestic mainstream power battery industry chain enterprises in China, it will present a "win-win" situation between the two sides in the power battery field’s cooperation。
Mr. Glenn PENARANDA suggested, under the framework of the 14cooperation agreements which were recently signed by the Philippines and China, in particular, the agreement between MOFCOM and the DTI on the establishment of industrial parks, can potentially include the investments of China’s power battery enterprises. At the same time, he also suggested that the power battery related projects may also be covered in the proposed collaboration between science parks.