The Asian Development Bank (ADB) will be providing the $300 million towards a 5 year implementation project plan that will replace fossil fuel tricycles with 100,000 electric tricycles (E-Trikes). There are about 3.5 million tricycles currently operating in the Philippines that have a high running cost and it is in efficient as the drivers earn less than $10 a day, after purchasing fuel. The E-Trikes will assist in many forms of savings. The primary is the environment with less carbon emissions being produced by the E-Trikes (as the production, manufacturing and the charging of the E-Trikes still consume energy sources from fossil fuels). Secondary, will be the savings for the drivers as they stand a chance of saving up to $5 a day, and carry more passengers on a single trip. This will increase their daily income. Thirdly, it will save the Philippine government $100 million a year as they would no longer require importing fuel.
Other benefits of this implementation project plan will also generate 10,000 jobs across the 5 years plan as the manufacturing of the E-Trikes will take place domestically. The Philippine government has also started on other e-vehicle actions, of which you can read more in this article.
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