Slowly but surely, the missing pieces in the electric vehicle industry puzzle are falling into place. One big piece just got plugged in recently: financing. This was revealed by Rommel Juan, president of the Electric Vehicle Association of the Philippines (EVAP).
According to Juan, for so long a time, no financing company would grant a loan to electric vehicle (EV) companies because of what they termed as the absence of a proof of concept. “Now that financing is available, we must have proven that EV technology really works. Thus, we are happy to note that the EV industry has made a great stride forward as the road to financing was finally traversed by Tojo Motors Corporation, a homegrown wholly Filipino-owned electric vehicle manufacturer,” he said.
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