VivoPower’s Tembo announces definitive agreement with pre-eminent jeepney group, Sarao Motors, in the Philippines’ estimated US$10bn jeepney market
VivoPower International PLC's subsidiary, Tembo E-LV B.V., has announced a definitive partnership agreement with Sarao Motors, the iconic Philippine jeepney manufacturer. Tembo will provide state-of-the-art and cost-effective solutions to electrify the next generation of public utility jeepneys in the Philippines' estimated US$10bn jeepney market.
Sarao Motors, established in 1953, is the pre-eminent jeepney group in the Philippines and has selected Tembo as its exclusive partner for electric jeepneys. Tembo's electric jeepney kits are already en route to Sarao's headquarters in Las Piñas City. The partnership aims to modernize and electrify the jeepney industry while preserving its cultural heritage and creating local jobs.
La controllata di VivoPower International PLC, Tembo E-LV B.V., ha annunciato un accordo di partnership definitivo con Sarao Motors, l'iconico produttore di jeepney filippino. Tembo fornirà soluzioni all'avanguardia e convenienti per elettrificare la prossima generazione di jeepney di pubblica utilità nel mercato dei jeepney delle Filippine, stimato in 10 miliardi di dollari USA.
Sarao Motors, fondata nel 1953, è il gruppo di jeepney di riferimento nelle Filippine e ha scelto Tembo come suo partner esclusivo per i jeepney elettrici. I kit per jeepney elettrici di Tembo sono già in viaggio verso la sede di Sarao a Las Piñas City. La partnership mira a modernizzare e elettrificare l'industria del jeepney, mantenendo intatto il suo patrimonio culturale e creando posti di lavoro locali.
La subsidiaria de VivoPower International PLC, Tembo E-LV B.V., ha anunciado un acuerdo de asociación definitivo con Sarao Motors, el icónico fabricante de jeepneys de Filipinas. Tembo proporcionará soluciones de vanguardia y rentables para electrificar la próxima generación de jeepneys de utilidad pública en el mercado de jeepneys en Filipinas, estimado en 10 mil millones de dólares estadounidenses.
Sarao Motors, establecida en 1953, es el grupo de jeepneys más importante de Filipinas y ha elegido a Tembo como su socio exclusivo para los jeepneys eléctricos. Los kits de jeepneys eléctricos de Tembo ya están en camino a la sede de Sarao en Las Piñas City. La asociación tiene como objetivo modernizar y electrificar la industria del jeepney mientras se preserva su herencia cultural y se crean empleos locales.
VivoPower International PLC의 자회사인 Tembo E-LV B.V.는 필리핀의 상징적인 지프니 제조업체인 Sarao Motors와 최종 파트너십 계약을 체결했다고 발표했습니다. Tembo는 필리핀에서 최첨단이면서 비용 효율적인 솔루션을 제공하여 다음 세대의 공공 유틸리티 지프니를 전기화할 것입니다. 필리핀의 지프니 시장은 거의 100억 달러로 추정됩니다.
1953년에 설립된 Sarao Motors는 필리핀에서 가장 유명한 지프니 그룹이며 Tembo를 전기 지프니의 독점 파트너로 선택했습니다. Tembo의 전기 지프니 키트는 이미 Las Piñas City에 있는 Sarao 본사로 배달 중입니다. 이 파트너십은 지프니 산업을 현대화하고 전기화하는 동시에 문화 유산을 보존하고 지역 일자리를 창출하는 것을 목표로 합니다.
La filiale de VivoPower International PLC, Tembo E-LV B.V., a annoncé un accord de partenariat définitif avec Sarao Motors, le fabricant emblématique de jeepneys aux Philippines. Tembo fournira des solutions de pointe et rentables pour électrifier la prochaine génération de jeepneys de service public sur le marché des jeepneys aux Philippines, estimé à 10 milliards de dollars américains.
Sarao Motors, fondée en 1953, est le groupe de jeepneys prééminent aux Philippines et a choisi Tembo comme partenaire exclusif pour les jeepneys électriques. Les kits de jeepneys électriques de Tembo sont déjà en route vers le siège de Sarao à Las Piñas City. Ce partenariat vise à moderniser et électrifier l'industrie du jeepney tout en préservant son patrimoine culturel et en créant des emplois locaux.
Die Tochtergesellschaft von VivoPower International PLC, Tembo E-LV B.V., hat eine verbindliche Partnerschaftsvereinbarung mit Sarao Motors, dem ikonischen Hersteller von Jeepneys auf den Philippinen, bekannt gegeben. Tembo wird hochmoderne und kosteneffiziente Lösungen bereitstellen, um die nächste Generation von öffentlichen Jeepneys im geschätzten 10 Milliarden US-Dollar Jeepney-Markt der Philippinen zu elektrifizieren.
Sarao Motors, gegründet im Jahr 1953, ist die führende Jeepney-Gruppe auf den Philippinen und hat Tembo als exklusiven Partner für elektrische Jeepneys ausgewählt. Die elektrischen Jeepney-Kits von Tembo sind bereits auf dem Weg zur Zentrale von Sarao in Las Piñas City. Ziel der Partnerschaft ist es, die Jeepney-Industrie zu modernisieren und zu elektrifizieren, während das kulturelle Erbe bewahrt und lokale Arbeitsplätze geschaffen werden.
- Tembo secured an exclusive partnership with Sarao Motors, the leading jeepney manufacturer in the Philippines
- The partnership targets the estimated US$10bn jeepney market in the Philippines
- Electric jeepney kits are already being delivered to Sarao's headquarters
- The agreement aims to create local jobs and modernize the jeepney industry
- None.
Insights
The partnership between Tembo and Sarao Motors marks a significant development in the Philippines' estimated
Key points to consider:
- Sarao Motors, established in 1953, is a renowned jeepney manufacturer with a strong market presence and cultural significance.
- The partnership gives Tembo exclusive rights to provide electric jeepney solutions to Sarao, potentially securing a significant market share.
- The transformation of Sarao's 20,000 square-meter facility into a sustainable energy solutions center could create new job opportunities and boost local manufacturing capabilities.
- The focus on preserving the cultural heritage while modernizing the technology aligns with consumer preferences and regulatory trends towards cleaner transportation.
For investors, this partnership represents a strategic entry into a large, untapped market with strong growth potential. However, the success will depend on factors such as government support, consumer adoption and the ability to scale production efficiently.
The Tembo-Sarao partnership addresses a critical environmental challenge in the Philippines. Jeepneys, while culturally significant, are major contributors to urban air pollution. This electrification initiative aligns with global trends towards sustainable urban transportation and could significantly reduce carbon emissions in Philippine cities.
Key environmental implications:
- Potential to reduce the
33% of carbon emissions currently attributed to jeepneys - Supports the Philippines' commitments to international climate agreements
- Could serve as a model for other developing countries facing similar transportation-related environmental challenges
The success of this project could attract additional investment in clean energy and transportation sectors in the Philippines. However, the environmental benefits will depend on the source of electricity for charging these e-jeepneys. If the grid relies heavily on fossil fuels, the net environmental impact may be Investors should monitor the development of renewable energy infrastructure alongside this e-jeepney initiative to gauge its long-term environmental and economic potential.
Iconic jeepneys are the main form of public transport in the Philippines, with over 200,000 in service
Jeepneys account for approximately one-third of carbon emissions in the country
Established in 1953, Sarao Motors is the Philippines’ pre-eminent jeepney group
Sarao Motors selected Tembo to be its exclusive partner to provide electric jeepneys
Tembo will continue to be able to work with other companies to provide electric jeepney solutions
LONDON, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Tembo E-LV B.V. (“Tembo”), a subsidiary of Nasdaq-listed B Corporation, VivoPower International PLC (Nasdaq: VVPR) (“VivoPower”), is very pleased to announce its definitive partnership agreement with the iconic Philippine jeepney manufacturer Sarao Motors (“Sarao”).
With a strategic focus on delivering purpose-driven sustainable transport solutions, Tembo will provide Sarao with state-of-the-art and cost-effective solutions to electrify the next generation of public utility jeepneys. Deliveries of Tembo’s electric jeepney kits are already en route to the Philippines and expected to be at Sarao’s headquarters in Las Piñas City, Metro Manila within the next weeks.
Sarao is the long-standing and iconic leader in jeepney manufacturing in the Philippines, establishing itself as the top choice over decades for the majority of jeepney co-operatives, operators and drivers. Since 1953, the company has become synonymous with the colourful and ornately designed public utility vehicle symbolising Filipino culture. In 1981, it was the first jeepney company to be commissioned by the Vatican to make a jeepney popemobile for Pope John Paul II’s visit to the Philippines.
Importantly, Sarao owns the largest dedicated jeepney facility in the Philippines, with over 20,000 square-metres, based in a prime location in Las Piñas City. Furthermore, it also has its own jeepney routes and jeepneys that service these routes. VivoPower and Tembo will provide technical support to Sarao as Sarao transforms this site into a state-of-the-art sustainable energy solutions facility with modern assembly facilities and charging stations.
Edgardo ‘Ed’ Sarao, Vice President, Sarao Motors, said: “Together, we are bringing back the glory days of the Philippines’ jeepney industry, creating local jobs and opportunities, while preserving the cultural heritage that the jeepney represents. With this partnership, we’re raising the bar for the Philippine transportation industry and starting a future that honours tradition and embraces innovation. Seeing Tembo’s remarkable speed, technical expertise, and cost efficiency, we know they are the right partner for this journey.”
Leonard John ‘LJ’ Sarao, Operations Supervisor, Sarao Motors, said: “The Philippine jeepney, ever so resilient, will receive a big overhaul with its new electric powertrain. Preserving its roots and improving performance and efficiency, let us all move forward with making our public transport safer and environmentally friendly. In partnership with Tembo, we are looking forward to propelling our cultural icon into the future.”
Executive Chairman and CEO of VivoPower, Kevin Chin, said: “We are absolutely honoured that Tembo is partnering with Sarao Motors, a household name in the Philippines that is well recognised and highly respected by the Philippines government and the Filipino people alike. For Sarao to have selected Tembo as its exclusive e-jeepney kits and solutions provider, it is a testament to the considered, careful, and comprehensive approach to the engineering quality and safety that underpins our culture and modus operandi. As a B Corporation, we are steadfastly committed to the triple bottom line of People, Planet and Profit. We will not yield to short-term pressures that could lead to decisions that compromise the safety and comfort of passengers of e-jeepneys and the economic livelihood of those who work in the jeepney industry, especially the co-operatives and drivers. Our mission with the electric jeepney programme is to help enable the jeepney industry in the Philippines to be modernised, electrified and resurrected. Jobs can be created by leveraging local craftsmanship. We are confident that our partnership with Sarao will boost job opportunities in the jeepney transportation and manufacturing sectors of the Philippines, ensuring that the traditional skills of jeepney builders are not only protected but also advanced through new EV technologies. Furthermore, the integration of Tembo’s EV chassis allows us to keep jeepneys on the road while meeting modern environmental standards, paving the way for a cleaner, greener future. The partnership honours the legacy of Sarao’s design, ensuring that the look and feel of the beloved jeepney remains intact while enhancing its efficiency, durability, and performance with next-gen EV tech. In Sarao, we have found a partner with the same ethos and long-term mindset, with genuine care for its customers, passengers and the people of the Philippines. We are also looking forward to supporting Sarao behind the scenes as it seeks to revitalise the jeepney industry locally in the Philippines. Jeepneys are the number one cultural icon of the Philippines, and we fully support that the next generation of jeepneys need to ultimately be made by Filipinos for Filipinos.”
About VivoPower
Established in 2014, VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions.
The Company’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
About Tembo
Tembo electric utility vehicles (EUVs) are a
About Sarao Motors
Founded in 1953, Sarao Motors is an iconic Filipino company known for pioneering the design and manufacturing of the Philippine jeepney, a symbol of the country's cultural and transportation heritage. Over the decades, Sarao has continuously evolved, providing durable and customizable jeepneys that cater to the needs of Filipino commuters. Today, Sarao Motors is at the forefront of innovation, driving sustainable solutions through the development of electric jeepneys while preserving the tradition and legacy of the iconic jeepney industry.
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FAQ
What is the estimated value of the jeepney market in the Philippines that VivoPower (VVPR) is targeting?
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