MANILA : China's Yadea Group Holdings, one of the world's biggest electric two-wheeled vehicle makers, plans to invest about $1 billion in a battery factory in the Philippines, the country's investment promotions agency chief said on Thursday.
Yadea, which has six production hubs in China and one in Vietnam with an annual capacity of more than 12 million vehicles, did not immediately respond to a request for comment. Yadea has already signified its interest to file application to PEZA for a factory in Batangas located south of the capital, Manila, Panga said.
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