Reference News Network, October 27 report - According to the website of the "Nikkei Business Publications" on October 25, large business groups in the Philippines are striving to promote the popularity of electric vehicles in the country. The Ayala Group plans to double the number of BYD's stores, while the SM Group is collaborating with Vietnamese companies to expand the electric taxi business.

At the Electric Vehicle Summit held in Manila on the 23rd by the Philippine Electric Vehicle Association, Chinese brands became the focus of attention.

BYD set up a large booth near the entrance of the venue, and in addition to electric vehicles, it also exhibited a new plug-in hybrid multi-purpose vehicle that will be launched in October. Geely Holding Group's electric brand Zeekr also launched an electric coupe. Japanese automakers were basically absent from this exhibition, with Honda only showcasing an electric motorcycle.

Large business groups in the Philippines have provided support for the active expansion of electric vehicle manufacturers from China and other regions. At the new car launch event, BYD focused on introducing the car loan discounts provided by the Philippine Islands Bank under the Ayala Group.

The AC Mobility company under the Ayala Group has been a authorized dealer of BYD since 2023. Currently, the company has about 40 stores in the Philippines and plans to double this number to nearly 80 by 2025.

Owing to the lack of charging infrastructure and high electricity costs, the Philippines lags behind other ASEAN countries in the popularization of electric vehicles. However, with the entry of some major enterprise groups that have significant influence on the domestic economy, the true electric vehicle popularization may be coming.

The rise of electric vehicles is posing a threat to Japanese automakers, which have traditionally occupied a large share of the Philippine new car market. (Translated by Liu Lin)

On May 31, visitors watched the BYD car version of "Black Myth: Wukong" at the BYD pavilion. (Xinhua News Agency)

Original article: https://www.toutiao.com/article/7565733677339001386/

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