President Ferdinand Marcos Jr. has encouraged technology startups and other industry players to consider the Philippines as an investment destination.
Marcos Jr. sought their support during the inauguration of the P7-billion StB Giga Factory in New Clark City, the first manufacturing plant in the Philippines for advanced iron phosphate batteries often used in renewable energy and electric vehicles (EVs).
This will make the country a major player in clean energy storage in Southeast Asia, according to him.
“And to the rest of us, I will say, do not blink. Change is happening faster than you think. So, if you are an entrepreneur, a startup, an industry leader wondering where to place your next big bet, look no further.
“We have the talent, certainly the determination, and now, the infrastructure to make your boldest ideas a reality,” he added.
When StB Giga reaches full capacity by 2030, it will produce two gigawatt-hours of batteries annually, which is equivalent to around 18,000 electric vehicles or nearly half a million home battery systems.
The facility will begin commercial operation this month.IMT
