San Miguel Corporation (SMC) is setting its sights on being more involved in the local transportation sector. Apart from already having stakes in fuel and infrastructure, it seems they want to cash in on the future of mobility as well; particularly EVs.
SMC-Dinagat EV battery joint venture
According to a statement by Dinagat Island Governor Nilo Demery Jr. SMC is set to build a PHP 27.96 Billion EV battery production plant in the province. He went on further by saying that construction of the plant will begin sometime in September of this year.
The plant will be built on SMC’s mining claim (area) in the region. The plant is also slated to provide around 10,000 more jobs for locals. This joint venture is also being done to help generate more income for the province.
Governor Demery says that at the moment, they are working on the necessary and pertinent documents to be able to properly start the construction of the plant.
Right now there is no set timetable for the completion of the plant, but once it’s fully operational it will surely be a big boost for our country’s push toward EV mobility.