November 4, 2024 | 12:00am
MANILA, Philippines — StB Giga Factory Inc. is planning to expand its battery manufacturing capacity in the country by adding two new factories.
In a briefing, StB Giga Factory business development director Paulo Salvador said the company, which opened its battery manufacturing facility in New Clark City in Tarlac last September, is planning to put up two more factories in the country.
“Our production right now is around 300 to 600 megawatts, but our plan for up to 2030 is to produce two gigawatts. So we’re adding I think two factories,” he said.
The company has yet to decide on the definite location of the two facilities, but he said these would be in the Clark area.
StB Giga is a joint venture between Australia-based StB Capital Partners or St. Baker Group and Oli Power, which are both leaders in the Asia-Pacific energy transition.
Jose Montano, who oversees business development for Pure EV, a company part of the St. Baker Group, said the expansion aims to increase capacity for battery manufacturing.
He said there is also a plan to build chargers locally.
“There are other renewable energy components that are being planned for in the next few years,” he said.
Salvador said the company’s initial investment for StB Giga Factory’s manufacturing plant for the advanced lithium iron phosphate batteries at the Filinvest Innovation Park in New Clark City is at P5 billion.
At full production capacity, the manufacturing plant is expected to provide 2,500 direct and indirect jobs for Filipinos.
The production facility, which will supply high-performance batteries to both local and international residential and industrial clients, is also expected to contribute over P5 billion annually to the economy at full production capacity.
Bulk or 70 percent of the factory’s output will be exported to Australia, Southeast Asia and North America, while the rest will be for the local market.
Pure EV, meanwhile, has been producing and deploying e-trikes in the country, with the biggest deployment in Antipolo, involving 200 units.
Montano said the company would soon be deploying electric vehicles in Eastern Samar.
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