By Anna Leah G. Estrada – Asian Development Bank approved a $300-million loan to a Philippine project that will replace 100,000 gasoline-burning tricycles in the Philippines with clean, energy efficient electric tricycles, or e-Trikes.
“e-Trikes are a cleaner, greener transport solution for the Philippines, and provide a better quality of life for trike drivers,” said Neeraj Jain, ADB’s country director for the Philippines, in a statement.
“This project can help transform transportation in the Philippines, and positions the country as a leader in electric vehicle development in Asia,” Jain added.
The new E-Trikes, which will run on an electric motor and rechargeable lithium-ion battery, will be introduced to Metro Manila and other urban centers across the Philippines under a lease-to-own arrangement.
The project will replace 100,000 gasoline-powered trikes and will enable the country to save more than $100 million a year in fuel imports.
“This project will lessen the Philippines’ dependence on foreign oil imports, and by fabricating and assembling the tricycles domestically, it will create up to 10,000 jobs in the 5-year project implementation,” said Energy Undersecretary Loreta Ayson.
The project will also support the establishment of an e-vehicle parts industry, battery supply chain and charging stations, including five off-grid solar charging stations in line with the government’s plan to develop a national e-vehicle industry.
ADB will extend another $105-million loan and grant from the Clean Technology Fund for other Philippine environment projects, with the government providing a counterpart fund of $99 million over a five-year period.
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