Manila Electric Co. said Tuesday its board approved the creation of a wholly-owned subsidiary to engage in the operation of electric vehicles and charging stations.
Meralco said in a disclosure the subsidiary would “engage in the business of owning, maintaining and operating transport service networks of charging stations, batteries and vehicles utilizing electric energy and other alternative energy sources.”
“Part of our support to create an ecosystem in EV. We see opportunity in the development of e-vehicles moving forward. At the same time, it’s pro- environment,” Meralco first vice president and head of legal and corporate governance William Pamintuan said.
Pamintuan said that by investing in e-vehicles, Meralco would help reduce the country’s carbon emissions.
“It is a way towards the effort to reduce carbon emission. We also see it as an opportunity since it will also create a market of power users hoping to increase demand of electricity,” he said.
Pamintuan said Meralco would likely forge partnerships for the e-vehicle and charging stations later on, but the project was still on development stage.
“As more people adopt EV, we are hoping demand will increase exponentially. It will initially be Meralco franchise area. We will put up charging stations, EV, provide EV public shuttles,” he said.
Meralco teamed up with Mitsubishi Motors Philippines Corp. and the government to put up electric vehicle charging stations in four locations.
“Aligned with the company’s goal of pioneering innovative energy solutions, Meralco supports sustainability in transportation via the company’s initiatives in helping create an effective and viable electric vehicle ecosystem. We have actually partnered with several customers from the government, academe and business sectors who have ventured into this greener path, with collaborations on EV charging stations development,” Meralco spokesman Joe Zaldarriaga said earlier.
Meralco, Mitsubishi and the Trade and Environment Departments earlier agreed to construct four electric vehicle charging stations.“This project of our subsidiary MSERV with Mitsubishi, Department of Trade & Industry and Department of Environment and Natural Resources is an expansion of this advocacy towards greener transportation,” Zaldarriaga said.
Meralco’s wholly-owned subsidiary, MSERV, will build the EV charging stations in four locations: DENR Central Office in Quezon City, DTI Office in Makati, as well as DENR regional offices in Cebu and Davao.
Meralco chairman Manuel Pangilinan earlier said Meralco was expanding beyond its traditional task of providing power.
“The Philippines has got to develop its own niche. We in Meralco will help propagate local manufacturing [of electric vehicles]. We’re prepared to invest and set up financing. We don’t want to import these vehicles,” Pangilinan said.
