Former Ilocos Sur governor and businessman Chavit Singson has forged a strategic partnership with Korean experts to leverage their specialized knowledge and expertise in electric vehicle (EV) technology.
In an interview Tuesday on Straight Talk, DAILY TRIBUNE’s online show, Singson revealed that his Korean partners are currently developing two-wheel and four-wheel EV prototypes that can be mass-produced and locally adapted.
He said he plans to help facilitate the implementation of the government’s long-delayed Public Utility Vehicle Modernization Plan (PUVMP).
Flexible and interest-free
“The jeepney modernization will take a long time because the drivers don’t have money; they don’t want it. So, I said I’ll provide it because in Korea I have many co-workers., We will provide everything — no down payment and no interest,” Singson said.
To avail of units, he said drivers should follow the Department of Transportation (DoTr) rules.
Singson said he has received expressions of interest from various Korean e-mobility companies regarding the provision of technical and financial support for the nationwide deployment of his EV prototype with the anticipated rollout within the year.
“These are made in Korea and will be launched in the whole country. I can’t do it alone because I’ll only do 100 if I’m alone. So, I talked to the e-mobility groups in Korea, and many believe in me there, they said they wanted to come along. Twenty-one factories already want to join me,” Singson said.
In 2017, the DoTr launched the PUVMP program to modernize the domestic transport sector. The program aims to create a more modern, well-managed, and environmentally sustainable transport system.
It aims to provide drivers and operators with stable, sufficient, and dignified livelihoods while ensuring that commuters reach their destinations quickly, safely, and comfortably.
However, the PUVMP has faced opposition from transport workers who saw it as a way to phase them out. The program targets to deploy new jeepney units that run on Euro 4-compliant or electrically powered engines with solar panels for roofs.
Higher loan subsidies
Notably, the DoTr has responded to transport workers’ requests by increasing the equity subsidy for PUV operators.
Through Department Order No. 2023-018, dated 31 August 2023, the subsidy was raised to P280,000 from the current P160,000 per unit.
Operators who purchase Class 1 PUV units will receive P210,000 per unit, while those who acquire Class 2, 3, or 4 units will get P280,000 per unit.
This move’s objective is to strengthen PUV operators who have a valid Provisional Authority or Certificate of Public Convenience as they purchase their modern PUV units and reduce their monthly amortization costs.
The subsidy will be granted under the Special Loan Facilities of the Program Assistance to Support Alternative Driving Approaches (PASADA) of the Development Bank of the Philippines and the Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles (SPEED UV) of the Landbank of the Philippines.
The beneficiaries of the subsidy increase include first movers or existing borrowers under PASADA and SPEED PUV starting from 31 July 2018, due to the retroactive application of the department order.
