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Ayala acquires top EV manufacturer BYD | Daily Tribune

Ayala acquires top EV manufacturer BYD

‘Our long-term vision is for AC Motors to become the leading platform for EVs and other new energy vehicles in the Philippines’.

Ian Magbanua·13 August 2023, 1:20 am·1 MIN READ

Ayala acquires top EV manufacturer BYD — Forging partnership are (from left) Jaime Alfonso Zobel de Ayala, head of AC Motors Group; Cezar Consing, president and CEO of Ayala Corporation; Liu Xueliang, general manager of BYD Asia Pacific Auto Sales Division and president of BYD Japan; and James Ng, managing director of BYD Philippines and Singapore. | Photograph Courtesy of Ac Motor.

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JAIME Alfonso Zobel de Ayala, head of AC Motors, introduces the rationale for the partnership during the media roundtable held at Fairmont Makati last Thursday.| Photograph Courtesy of Ian Magbanua.

Ayala Corporation, a major player in the Philippines' business landscape, has officially cemented a partnership with BYD, the global leader in the electric vehicle industry, to become its official distributor in the Philippines.

This momentous deal aims to reshape the nation's automotive market, marking a significant step toward the development of electric and hybrid mobility in the country.

Jaime Alfonso Zobel de Ayala, the head of AC Motors, elucidated the nature and importance of this alliance, stating: "This partnership between one of the largest multi-brand automotive groups in the Philippines and the world's leading EV brand is a cornerstone of the group's goal of accelerating the future of mobility in the country."

He further explained, "Our long-term vision is for AC Motors to become the leading platform for EVs and other new energy vehicles in the Philippines."

During the event, Ayala painted a vivid picture of the automotive industry's rapid evolution and the transformative potential of EVs.

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He shared statistics showcasing a hundredfold increase in pure electric and plug-in hybrid vehicle sales, from 100,000 in 2012 to more than 10 million in 2022. Of which, 7.2 million were pure EVs.

He went on to detail the long-term vision for AC Motors, focusing on their aspiration to pioneer the electric vehicle segment in the Philippines.

"Our long-term vision is for AC Motors to become the leading platform for EVs and other new energy vehicles in the Philippines," Ayala added.

"This includes building up BYD to become a key brand in the Philippine market, with leading share among EV brands and meaningful presence in the automotive market as a whole."

This partnership is further strengthened by the enthusiastic commitment from James Ng, managing director of BYD Philippines and Singapore.

The alliance between Ayala and BYD is not a mere business transaction, though. It's a synergy of values and visions.

Ayala's commitment to electric mobility vehicles resonates well with BYD's expansive offering of passenger and commercial vehicles at various price points. This collaboration is strategically aimed at unlocking value in the burgeoning market for EVs.

Ayala's investment in electric mobility is underpinned by its vast assets across renewable power generation, automotive distribution and dealerships, property development and management, manufacturing, financing and insurance, and digital connectivity.

These components are foundational to the EV ecosystem, providing a comprehensive platform that is tailored for long-term value to EV customers.

Conversely, BYD's capabilities are impressively extensive, ranging from the design and assembly of final vehicles to critical areas like battery technology, electric powertrain development and semiconductors.