Korea’s ENPlus to Manufacture Electric Vehicles in the Philippines

On April 22, the Philippine Economic Zone Authority (PEZA) announced that it has signed a memorandum of understanding (MOU) with South Korean automaker ENPlus for a joint venture in the Philippines. The joint venture will manufacture and sell electric vehicles (EVs) and electric jeepneys (Philippine style shared ride buses). According to Plaza, ENPlus will be the first EV manufacturer registered with PEZA. PEZA is expected to provide 30 hectares of land for the project. ENPlus is listed on the Korean Securities Market (KOSPI market) and manufactures garbage trucks and tank trucks, with fire trucks as its main products.

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