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Cirtek Holdings Philippines Corp., led by business magnate Jerry Liu, is ready to rev up its electric motorcycle assembly operations after securing the green light from the Philippine Economic Zone Authority (PEZA).
The PEZA board approved the application of Cirtek Advanced Technologies and Solutions Inc. (CATSI) for registration as a domestic market enterprise engaged in the manufacture and/or assembly of two-wheel and three-Wheel electric motorcycle, and lithium-ion battery pack at the Laguna Technopark.
Inspired by the success stories of Southeast Asian and other neighbors who have embraced electric mobility solutions, CATSI targets to start its electric motorcycle production this 2024.
It expects at least one million units within three to four years for domestic sales alone, as it sees most consumers embracing electric vehicle, particularly the two-wheel type, as a main transport solution.
The company said it is teaming up with one of the largest and most reputable electric motorcycle and lithium battery manufacturers in China to guarantee that its electric motorcycles meet the highest standards of performance, safety, and innovation.
“Although the Philippines lag behind our neighbors with regard to the adoption of electric vehicles, we expect a big turnaround in the industry very soon,” Cirtek said.
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