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Friday, March 29, 2024

BOI grants perks to CHRG Electric

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The Board of Investments recently approved the application of CHRG Electric Vehicle Technologies Inc. as a new domestic producer of electric vehicles (EV) fast chargers and retrofit kits on a non-pioneer status under the current Investments Priorities Plan listing of Innovation Drivers.

The Innovation Driver category covers the commercialization of new and emerging technologies and products of the Department of Science and Technology or government-funded research and development, such as hardware or software for the upgrading of local industries.

Trade Undersecretary and BOI managing head Ceferino Rodolfo said the category s a strategic activity of the domestic Electric Vehicle supply chain. “We look forward that homegrown technologies like this will play a major part in the development of electric vehicles in the country as we gradually begin the transition from fossil-fueled cars to environment-friendly vehicles and aspire to be a manufacturing hub for the EV components,” he said.

CHRG has invested P3.9 million in a production facility at the University of the Philippines-National Engineering Center in Diliman, Quezon City, part of the DOST-supported technology business incubator called UPSCALE Innovation Hub.

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