{"id":329543,"date":"2024-09-19T13:53:04","date_gmt":"2024-09-19T05:53:04","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329543"},"modified":"2024-09-19T13:53:06","modified_gmt":"2024-09-19T05:53:06","slug":"trade-the-news-mers-movem-electric-partners-with-uratex-for-ev-adoption","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-mers-movem-electric-partners-with-uratex-for-ev-adoption\/","title":{"rendered":"Trade the News: MER’s Movem Electric partners with Uratex for EV adoption"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEUTRAL on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Manila Electric Co. (Meralco)<\/td><\/tr>
Stock Code<\/strong><\/td>MER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 351.25<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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MOVEM Electric, Inc., the sustainable mobility arm of Manila Electric Co. (Meralco), has partnered with foam and mattress maker Uratex Group of Companies to support the latter\u2019s logistics operations.<\/p>\n\n\n\n

Movem handed over to Uratex an electric light delivery truck and a 60-kilowatt direct current fast charger for its manufacturing plant in Plaridel, Bulacan, the company said in a statement on Tuesday.<\/p>\n\n\n\n

This move is intended to support Uratex\u2019s plan to boost its adoption and deployment of electric vehicles (EVs) with \u201ca convenient and accessible charging solution to its drivers and operations,\u201d the company said.<\/p>\n\n\n\n

\u201cOur vision of driving the Philippines\u2019 journey towards an emissions-free transportation sector is only made possible through working with like-minded partners such as Uratex,\u201d said Raymond B. Ravelo, president of Movem, and first vice-president and chief sustainability officer of Meralco.<\/p>\n\n\n\n

\u201cTogether, we will continue to promote key initiatives in vehicle electrification, helping protect and preserve our planet, and ultimately powering good lives for all,\u201d he added.<\/p>\n\n\n\n

Uratex Managing Director Peachy C. Medina said that the company has been gradually converting its internal fleet to electrical as part of its commitment to achieve its zero emissions goal.<\/p>\n\n\n\n

\u201cMovem assisted us from our initial inquiry, choosing the right model fit for our purpose, delivery, installation, and trained our drivers and maintenance personnel,\u201d she said.<\/p>\n\n\n\n

Meralco said it has supported Uratex to meet the latter\u2019s requirements to switch to renewable energy sources under the government\u2019s Green Energy Option Program.<\/p>\n\n\n\n

The power distributor established Movem last year as its new subsidiary that will focus on the development and deployment of various electric transportation solutions.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

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This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329543","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329543"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329543\/revisions"}],"predecessor-version":[{"id":329545,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329543\/revisions\/329545"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}