Aussie firm boosts investment in PH factory

AUSTRALIAN firm StB GigaFactory Inc. announced plans to increase its investment to $35 million in its first factory in the Philippines.The battery manufacturer, the first locator in Filinvest Innovation Park in New Clark City, also aims to triple its production capacity to 2,000 megawatts.Dennis Chan Ibarra, the company's chief executive officer, said that the plan to accelerate will be achieved within four years.

Furthermore, StB GigaFactory plans to export 70 percent of the company's output, with the first shipment heading for Australia and the rest of Southeast Asia.'We have a very large residential market in Australia this year, and then next year we're ramping up, setting up the whole North America,' said Ibarra.He also recognized the Filipino talents as one of the reasons why they established their first manufacturing factory in the country.

Source: News Formal (newsformal.com)

Firm Boosts Investment In PH Factory

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