American battery technology companies are in talks w/ local nickel companies for supply as it mulls investing in the production and manufacture of battery & other technology products in the country with potential investments of $400M to $500M.
American battery technology companies are in talks with local nickel companies for supply as it mulls investing in the production and manufacture of battery and other technology productsTrade and Industry Secretary Ramon M. Lopez identified the American firm as ZAF Energy Systems and its affiliate Battery Grade Materials, Inc. . Lopez together with Defense Secretary Delfin Lorenzana met in Washington DC to discuss the US firms’ proposed investment projects in the country.
When fully completed including a battery factory, estimated total investments could reach up to $400-500 million and employ almost a thousand direct employees, he said. Since July 2021, ZAF and BGM have been in close and active collaboration with the Board of Investments and the Philippine Trade and Investment Center in New York to facilitate the partnership opportunities, requirements, and negotiations for the planned investment. ZAF is currently in further coordination with BOI and PTICs for their planned due diligence visit to the country.
“Apart from having vast resources of green metals such copper, cobalt, and nickel, which are key inputs to the production and manufacture of battery and other technology products, US companies stand to benefit from a partnership with the Philippines with the new incentives they can benefit from under the Corporate Recovery and Tax Incentives for Enterprises Act,” Lopez said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PH, US eye annual maritime dialogue after inaugural meet in ManilaThe Philippines and the United States (US) are looking to hold maritime dialogue annually after a successful meeting recently.
Read more »
VIRAL: Couple spends under $500 on wedding day; exchanges their 'I do's' on the side of a freewayFrom the venue to the dress, the couple was able to sustain a cost-friendly marriage! | via philstarlife
Read more »
US box office: ‘The Bad Guys’ topples ‘Fantastic Beasts 3’ with $24-million debutUniversal&39;s kid-friendly caper "The Bad Guys" pulled off a heist for the ages, capturing the No. 1 spot at the US box office.
Read more »
US officials to visit Kyiv amid call for heavy arms, Ukraine saysUkrainian President Volodymyr Zelenskiy announced that US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin will visit Kyiv.
Read more »
Kyiv says top US officials to visit; Odessa attack kills eightKyiv prepared for its first wartime visit from two top US officials, as Ukraine accused Russia of killing eight people, including an infant, in a strike on the southern city of Odessa that all but buried hopes of a truce for Orthodox Easter.
Read more »
US envoy blasts China’s support for Russia, pledges to help India | Bloomberg NewsA senior US diplomat again warned China of sanctions if it offers “material support” for Vladimir Putin’s war in Ukraine, while also pledging to help India end its dependence on Russian weapons. China wasn’t helping the situation in Ukraine by doing things like amplifying Russian disinformation campaigns, US Deputy Secretary…
Read more »