Aboitiz Power Corp. on Thursday targets to covert 40 percent of its fleet of four-wheelers and bikes into electric vehicles by 2030 and fully electric by 2040.Aboitiz Power said the target supports the Electric Vehicle Industry Development Act which mandates industrial and commercial firms to keep at least five percent of its fleet as EVs.
Its fleet of EVs were manufactured by Build Your Dreams and will soon deploy to three of its distribution utilities as the Visayan Electric in Cebu City, Davao Light in Davao City and Cotabato Light in Cotabato City.
Anton Perdices, Aboitiz Power chief operating officer, said the EVs will deploy in the franchise they serve in the Visayas and Mindanao with land areas more than six times the size of Metro Manila.
“Electrifying our fleet will help us further reduce carbon emissions, lower operating costs and contribute to cleaner air in the cities where we operate. This way, we are also helping empower the evolution of the cities we serve,” Perdices said.
Emmanuel Rubio, Aboitiz Power president and chief executive officer, said the transition is crucial as the mobility sector is among the highest energy-consuming sectors in the country.
“In fact, the sector accounts for 31.3 percent of total final energy consumption with over 11 million tons of oil equivalent. Globally, it is a major contributor to air pollution and greenhouse gas emissions,” he said.The company said pursuing EV also helps cut the country’s reliance on imported fossil fuels for transportation and electricity generation while also reducing emissions and contributing to the company’s bottom line of improved energy efficiency and transportation economics.
The cost per kilometer traveled of a unit is at least half compared to internal combustion engine vehicles, officials noted.
Aboitiz Power eyes spending P190 billion over the next decade for an additional 3,700 MW of renewable energy, growing its capacity to 4,600 MW or three times its current renewables portfolio by 2030.
