{"id":330581,"date":"2024-11-25T15:50:16","date_gmt":"2024-11-25T07:50:16","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330581"},"modified":"2024-11-25T15:50:20","modified_gmt":"2024-11-25T07:50:20","slug":"trade-the-news-acs-100-million-ev-charging-network-loan-approved-by-adb","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-acs-100-million-ev-charging-network-loan-approved-by-adb\/","title":{"rendered":"Trade the News: AC’s $100-million EV charging network loan approved by ADB"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Ayala Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>AC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 901.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

THE Asian Development Bank (ADB) has approved loans of up to $100 million, or around P5.9 billion, for Ayala Corp. (AC) subsidiary AC Mobility Holdings, Inc. (AMHI) to build an electric mobility (e-mobility) ecosystem in the country.<\/p>\n\n\n\n

The loan application was \u201capproved\u201d on Nov. 20, the multilateral development bank said on its website on Thursday.<\/p>\n\n\n\n

The Ayala Electric Mobility Ecosystem Project sought an $85-million ordinary-capital-resources loan and a $15-million concessional loan from the ADB.<\/p>\n\n\n\n

\u201cSubsidiary AC Mobility Holdings, Inc. (AMHI) will be utilizing the ADB\u2019s loan proceeds to support the procurement and installation of electric vehicles charging network (EVCN) nationwide of up to 1,700 EVCS (electric vehicle charging stations) to develop an e-mobility ecosystem in the country,\u201d the uploaded loan document said.<\/p>\n\n\n\n

AMHI aims to drive the country\u2019s transition to EV over the next five to seven years by expanding its product offerings.<\/p>\n\n\n\n

The project began its pre-construction phase this year and is expected to fully operate in 2032, the document said.<\/p>\n\n\n\n

\u201cThe typical rated power capacity of one EVCS is at least seven kilowatts (kW) for AC output and a maximum of 120 kW for DC output,\u201d it added.<\/p>\n\n\n\n

AMHI said it has already installed 35 charging stations registered with the Department of Energy within the National Capital Region, Cordillera Administrative Region, and Regions III, IV-A, VI, VII, and XI.<\/p>\n\n\n\n

\u201cThe project will cover the proposed new EVCS installations of AMHI\u2026 The location of proposed new EVCS installations for January 2024 to July 2025 [is] expanding AMHI\u2019s EVCN coverage to five additional regions,\u201d it said.<\/p>\n\n\n\n

These locations include the Ilocos Region, Central Luzon, Bicol Region, Eastern Visayas, and SOCCSKSARGEN (South Cotabato, Cotabato, Sultan Kudarat, Sarangani, and General Santos City), while other sites for installation are yet to be identified by AMHI.<\/p>\n\n\n\n

AMHI also said it is considering installing EVCS in non-Ayala properties, provided that the sites meet its criteria.<\/p>\n\n\n\n

This initiative aligns with Republic Act 11697, also known as the Electric Vehicle Industry Development Act, which sets quotas for EV adoption in organizations with vehicle fleets to support domestic manufacturers and encourage EV adoption.<\/p>\n\n\n\n

One key component of the law is the comprehensive roadmap for the EV industry, which aims to establish the Philippines as a producer and exporter of EVs by 2040.<\/p>\n\n\n\n

Under this, the baseline scenario target is a 10% EV share of the vehicle fleet by 2040. Under the clean-energy scenario, the target is at least a 50% EV share.<\/p>\n\n\n\n

Ayala Corp. has integrated EVs into its portfolio. It became the official distributor of Kia, Volkswagen, and BYD EVs in the Philippines in 2023.<\/p>\n\n\n\n

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

<\/div>\n\n\n\n

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-330581","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\/330581","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=330581"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330581\/revisions"}],"predecessor-version":[{"id":330583,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330581\/revisions\/330583"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}