The Market Monitor Minding the Nation's Business
President Ferdinand Marcos Jr. attended the recent launch of Dongfeng electric vehicles signifying his support and endorsement of the electrification of the local automotive industry.
Legado Motors, Inc. was officially named as the distributor of Dongfeng Motors in the Philippines, marking the launch of their flagship electric vehicle (EV) models – the Dongfeng Mini EV, Aeolus Huge Hybrid, and Forthing Friday – and showing its full support and potential success of electric vehicles in the automotive industry in the Philippines.
“I convey my gratitude to the Legado Motors Incorporated for partnering with Dongfeng Motors in importing some of its electric vehicle models to the Philippines and offering them to the local market. We heartily welcome your efforts to help us actualize our goal to increase the use of electric vehicles in our transportation sector. Considering our continued dependence on imported fuels and the volatility of oil products in the world market, it is only sensible that we encourage the shift to electric vehicles. We not only get savings in fuel and gas, but also significantly lessen our greenhouse gas emissions and champion sustainability in our day-to-day activities. Owning an electric vehicle here in the Philippines also confers a wide range of incentives and advantage,” according to Pres. Marcos.
It was LMI chairman and former Gov. Chavit Singson who introduced the President. In his own speech, Singson underscored the immense value that Dongfeng brings to the Philippines. He emphasized Dongfeng’s rich automotive expertise, honed through partnerships with renowned global brands like Honda, Peugeot, Renault, and Daewoo Cars. These partnerships exemplify Dongfeng’s commitment to excellence and innovation. He also elaborated on the strategic partnership between LMI/LCS and its collaborators to facilitate the provision of electric jeepneys through a rent-to-own partnership with local government units.
For his part, Legado Motors deputy CEO Brennan S. Lim emphasized the paramount importance of this partnership for Legado Motors and its unwavering dedication to offering innovative mobility solutions to the Filipino market. He expressed deep gratitude to their co-distributors, Dexter Co & Rachel Villanueva, and Dr. Jose & Juanita Chua, recognizing their pivotal contributions and acknowledged the presence of the President and the significance of his role at the event.
Among the Dongfeng cars that were unveiled included:
• Aeolus Huge 1.5T HEV – Priced at P1,880,000, this hybrid electric vehicle offers a perfect blend of power and fuel efficiency. The Aeolus Huge 1.5T HEV is designed to provide a comfortable and eco-friendly driving experience.
• Forthing Friday – With a price tag of P1,980,000, the Forthing Friday is an electric vehicle that offers an impressive range of 430 kilometers on a single charge. It combines sleek design with cutting-edge technology, making it an ideal choice for environmentally conscious consumers.
• Forthing Friday 630kms – Priced at P2,580,000, the Forthing Friday 630kms takes the electric vehicle range a step further, offering an extended range of 630 kilometers. This model provides an optimal balance between range, performance, and affordability.
• NANOBox – With an affordable price of P888,000, the NANOBox is a compact and versatile vehicle that offers practicality and convenience. It is designed to meet the needs of urban dwellers, providing a spacious interior and agile maneuverability. Also, Nanobox has up to 350kms electric vehicle range.