Chinese Company to Invest in Assembly Plant in Davao
A CHINESE company is planning to put up an assembly plant for electric vehicles in Davao City, a city official revealed Friday.
Davao City Investment Promotions Center (DCIPC) officer-in-charge Ivan C. Cortez did not name the company, but he told reporters they are currently assisting the company to look for the right location for the plant. He said that the company needs around two hectares for the project.
The plant will be utilized to assemble electric motorcycles, cars, and buses.
For a start, Cortez said the company will first produce electric motorcycles that will test the market “to see if it will have a strong following.”
He also said the company will most likely begin its operations in June 2014. Aside from Davao City, the company is also looking at the cities of Cebu and Cagayan de Oro for its expansion.
“They decided to start in Davao first because they have noticed there are already existing laws and policies for businesses compared to other cities,” Cortez said.
He also said that the company is qualified to apply for incentives since they are under one of the preferred industries — light manufacturing and assembly – that will be given incentives.
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