MANILA -- AC Motors said its newly signed distribution agreement with Chinese electric vehicle maker BYD will enable the Ayala group to further develop its ecosystem.

AC Motors head Jaime Alfonso Zobel de Ayala said they are ready to deploy more resources and take advantage of the synergies in various companies to make electric vehicles more known in the Philippines.

"When we look at our portfolio, we understand this is not a transition that will happen overnight," he said. "Certainly we think it will happen a lot faster than we imagine."

"We see a product now that can enable the ecosystem that Ayala has developing for some years now. I talked about previously, developing capabilities in energy management, that's a key input involved in creating longer term value for the customers once they purchase the vehicle," he explained.

"We believe that this is a vehicle that now embodies more of a lifestyle than the traditional (internal combustion engines)," he added.

Zobel said the whole Ayala group is excited to contribute to the push for more electric vehicles in the country.

"I think within the next 5-7 years, our forecasts show that we expect about 10-20 percent of new vehicles sold to be battery-electric vehicles. That is a tremendous development if you think about the scale of our automotive business right now," he said.

The Ayala conglomerate has assets in renewable power generation, automotive distribution and dealerships, among others.

Across BYD dealerships in the Philippines, Ayala will offer the following across BYD dealerships in the Philippines: the luxury executive sedan BYD Han, the 7-seater family SUV BYD Tang, and the compact hatchback BYD Dolphin.

Ayala also hopes to introduce the BYD ATTO 3--an EV model that is hailed for its outstanding design, comfort, quality, practicality, and performance.--by yearend.

--ANC, 14 August 2023

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