President Ferdinand Marcos Jr. on Monday led the launch of the country’s first advanced lithium iron phosphate battery manufacturing plant in Tarlac.
During the inauguration of the P7 billion factory, Mr. Marcos expressed pride in the swift completion of the project, which was signed in March and completed in just six months.
The facility is the first of three planned buildings, signaling a significant investment in a critical industry.
“We are proud that we got it done. But I’m quite impressed with StB Giga that they were able to do this in such a short time,” the President said during an interview.
“And this is only the first of three buildings,” he added.
The President highlighted the importance of the battery manufacturing plant, calling it a major investment in a key industry that aligns with the country’s shift to renewable energy.
“This facility runs in tandem with the Philippines’ renewable energy landscape as we transition our country to renewable energy. Your products could help entice more investors in renewable energy facilities in the country,” he said.
He added that the plant will support the country’s growing electric vehicle (EV) market, further reducing reliance on imported fuels.
“This aligns with our plans to develop the country’s EV industry and produce locally-made EVs and EV components,” he noted.
He pointed out that while renewable energy and electric vehicles were once seen as optional, they must now be prioritized to combat climate change.
“Every step toward sustainable energy development is an investment in a brighter, healthier future for our children, for our country,” he said.
The President also praised the partnership between the government and the private sector that made the StB Giga Factory possible, noting that public-private partnerships (PPP) like this are crucial for fast-tracking critical projects.
“This is a perfect example of what can be done through PPP. Together, government and the private sector worked in unison to make this happen quickly,” he said.
The President extended his gratitude to everyone involved in the project.
“We actually managed to do it, with our partners from StB Giga and the strong alliance we have with the government of Australia,” he said.
StB Giga Factory is reportedly an Australian-Chinese joint venture company.
Editor’s Note: This is an updated article. Originally posted with the headline “Marcos inaugurates P7-B battery plant in Tarlac.”
