Pilipinas Shell venturing into Electric Vehicles

Pilipinas Shell doubles net profits to P7.4 billion for 2016

Pilipinas Shell Petroleum Corporation (PSPC) is looking into venturing into electric vehicles (EVs) as part of its net-zero goal to decarbonize the entire chain of operations by 2050. 

In a report by the Manila Bulletin, PSPC vice president for Mobility Randolph del Valle said that the company is in discussion with different original equipment manufacturers (OEMs) regarding its shift to EVs. 

The PSPC official added that with Republic Act (RA) 11697 or the Electric Vehicle Industry Development Act (EVIDA) being lapsed into law, there has been an increasing interest in investments and overall capital flow in the EV industry in the country. 

Shell looks to use renewable energy as a source of power for its EV chargers. 

PSPC president and CEO Lorelei Quiambao-Osial said that Shell will be “providing more and cleaner energy solutions at pace with of the Philippines,” adding that the company is continuously looking for opportunities to work with the government as energy transition is a multi-sectoral challenge and requires a multi-sectoral approach. 

From the government’s perspective, the Department of Trade and Industry is drafting a zero-tariff policy for the importation of EVs in the hopes of having Pres. Rodrigo Duterte signed before stepping down on June 30. 

The Department of Energy gas also endorsed to the Board of Investments a Php 2.5 billion investment by Century Peak Energy Corporation to bring in 20,000 EVs into the country and eventually build 5,000 EV charging stations.