San Miguel Corporation’s (SMC) involvement in transport isn’t just limited to roads, trains, and vehicle distributorship anymore—the company is now set to invest big in a plant that will manufacture batteries for electric vehicles.
Dinagat Islands governor Nilo Demerey Jr. confirmed that SMC is now set to build a new $500 million (P27.962 billion) EV battery plant in the province. SMC will begin construction of the facility by September this year, he added.
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“This is part of our efforts to industrialize Dinagat Islands and create more job opportunities, increase the income of the province, and uplift the lives of our people,” said Demerey.
The plant will be built within SMC’s mining claim in the province, and will reportedly help generate 10,000 jobs. “We are now working on the necessary documents and pertinent papers for the start of the construction of the plant in September,” Demerey added.
No word yet on when the plant is targeted for completion, but once it’s up and running, we can expect it to give the local automotive industry a big boost in its push toward electrification.
