Meralco to build Electric Vehicle (EV) subsidiary

Meralco to build EV subsidiary

The Manila Electric Co. (Merlaco) is establishing a new subsidiary for a network of electric vehicles (EVs) and charging stations for public support in support of the country’s rising EV industry.

“We see opportunity in the development of e-vehicles moving forward. At the same time, it’s pro-environment. We also want to contribute to lowering emissions. It is a way towards the effort to reduce carbon emission,” Meralco first vice president and legal and corporate governance head William Pamintuan said.

In a disclosure, the company said that the new unit is in the development stage, securing permits from the corporate regulator.

Pamintuan said that placing charging stations and providing EVs will also spur more electricity demand for Meralco.

“We also see it as an opportunity since it will also create a market of power users hoping to increase demand for electricity,” Pamintuan said. “As more people adapt EV, we are hoping demand will increase exponentially.”

The charging stations are initially targeted within the Meralco franchise area. These are; Metro Manila, Bulacan, Cavite, and Rizal, as well as certain areas in Batangas, Laguna, Pampanga, and Quezon.

Meralco has 6.2 million customers as of September 2017.

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