China's Yadea to invest $1b in EV battery plant in the Philippines

China's Yadea to invest $1b in EV battery plant in the Philippines

FILE PHOTO: An electric car charging sign is seen in a car park at a petrol station in Sao Paulo, Brazil, March 3, 2018. REUTERS/Nacho Doce/ FILE PHOTO

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.

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