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Friday, April 12, 2024
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Francisco Motors eyes business venture with Mitsui & Co Ltd

BY JOEL C. ESCOL, Managing Editor

CAGAYAN DE ORO CITY – Executives of Francisco Motors, the biggest manufacturer of jeepneys in the Philippines met with Mitsui & Co. Ltd. for a possible bigger tie up for the fast and efficient production and distribution of electric vehicles in the Philippines and around the world.

Elmer Francisco, the man behind Francisco Motors and his son Dominic Francisco, Chief Sustainability Officer of E-Francisco Motor Corporation, exchanged ideas and expertise at the board room, with Mitsui General Manager Yozo Kayamori, Ms Grace Chua and Ms Ella Alas. Mitsui & Co. Ltd. is one of the owners of Toyota Philippines.

“Something so big is brewing really fast between Francisco and Toyota when it comes to the local mass production of the iconic designed Hydrogen Fuel Cell Electric powered Francisco Jeepney fueled by Green Hydrogen. This came shortly after the US$14 billion agreement between Francisco Motors, NetZero Global and Maharlika Carbon to locally produce Green Hydrogen using renewable energy, says Elmer Francsco in his FB post the other day.

He added: “It just makes sense for the biggest jeepney manufacturer in the world (Francisco) and the biggest vehicle manufacturer in the world (Toyota) to come together in the name of sustainability and saving our planet.”

Francisco said he is “excited and looking forward to this historical venture and hydrogen journey. Like what I always say, I don’t settle for less. I only deal with the best because I want the best for my fellow-Filipinos.”

ALLIANCES

On March 18, 2024, Francisco Motors, a renowned automotive manufacturer committed to innovation, and NetZero Global, a pioneer in Environmental Ventures, have joined forces in a historic collaboration aimed at revolutionizing transportation and spearheading the decarbonization efforts in the Philippines. This partnership intends to either manufacture or repurpose hydrogen-powered vehicles, including jeepneys, utility vehicles, buses, and taxis, setting the stage for a sustainable and eco-friendly transport system.

The collaboration between Francisco Motors and NetZero Global signifies a significant milestone towards achieving a decarbonized, energy-independent, and prosperous Philippines. With the creation of the NetZero Global Hydrogen Economy in the Philippines, both entities are poised to reshape the nation’s transport landscape while addressing pressing environmental concerns.

ENVIRONMENTAL IMPACT

A hydrogen economy holds the promise of reducing greenhouse gas emissions, enhancing energy security, and driving economic growth through job creation and technology transfer. By eliminating approximately US$9 billion in foreign exchange payments for fossil fuels, the initiative aims to bolster the Philippines’ economic resilience while fostering energy self-sufficiency. Moreover, the introduction of hydrogen-powered vehicles is set to combat climate change and roadside pollution, significantly contributing to environmental preservation.

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