Australian firm StB Giga Factory Inc. plans to triple its investments to $35 million to expand its manufacturing capacities at the Filinvest Innovation Park in New Clark City (NCC) in Tarlac province.
“We announced six weeks ago that we are accelerating our plans to triple the volume to 2,000 megawatts. It’s a world-class scale,” said StB Giga Factory chief executive Dennis Chan Ibarra during a business forum organized by the Economic Journalist Association of the Philippines (EJAP) in NCC.
The construction of the factory is expected to be completed within four years, with the possibility of accelerating the construction to operate sooner. A third of the facility is projected to be operational by next year.
An official launch is scheduled in July, followed by a grand inauguration in August.
Giga Factory will initially focus on four key markets, including electric vehicles, residential, commercial and industrial applications. Future plans involve ramping up EV battery production after obtaining the necessary certifications.
The first shipments will be directed towards Australia and Southeast Asia, including the Philippines. The company reports a strong order book for the Philippines.
It said while the company aims to comply with export regulations requiring a minimum of 70 percent, the initial year will focus on piloting and production ramp-up. Full capacity for the first phase, which is around 600 megawatts, is expected next year.
Giga Factory also hinted at a joint venture with a major Chinese battery manufacturer. The company emphasizes a business-oriented approach, segmenting the customer base to mitigate potential risks from geopolitical tensions.
Giga Factory appears well-positioned to become a major player in the battery storage market, with its focus on scalability, strategic partnerships and diverse market targeting positions.
