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CIRTEK Holdings announced that its subsidiary Cirtek Advanced Technologies and Solutions, Inc. (CATSI) has received approval from the Philippine Economic Zone Authority (PEZA) for plans to set up an electric motorcycle assembly plant in the country.
Working with Chinese electric motorcycle and lithium battery manufacturers, the company will produce two- and three-wheeled electric motorcycles and lithium-ion battery packs, committed to providing affordable and reliable mobility solutions.
CIRTEK expects the electric vehicle industry to see significant growth in the Philippines, with the Philippine Electric Vehicle Association predicting that the number of electric vehicles in the country will reach nearly 7 million by 2030.
(Source: bworldonline Image source: freepik)
