By Beatriz Marie D. Cruz, Reporter
ELECTRIC VEHICLE (EV) solution startup EVOxCharge, Inc. expects to increase its charging stations and users in the Philippines as more brands enter the EV market.
“It is our vision to establish 1,000 charging stations in the next five years either through partnership with establishments or through our own charging stations,” EVOxCharge Vice-President and General Manager Derrick John Tolentino said in an e-mailed reply to questions.
EVOxCharge, a unit of logistics company Transnational Diversified Group, Inc. set up in 2022, supplies, operates and maintains an EV charging infrastructure.
EVOxCharge has 25 commercial charging stations to date and is looking to establish 100 more locations by yearend, Mr. Tolentino said. It also expects its users to double to 500 this year, with an annual growth of at least 50% in the next couple of years.
EVOxCharge expects the adoption of both EVs and its infrastructure to increase in the next two years.
“This will be spurred by the arrival of established brands that are positioning themselves aggressively in the market, and as the Electric Vehicle Industry Development Act is implemented, the guidelines for implementing the key rules will be stricter and well established,” he said.
The company is bullish that demand for its EV charging infrastructure, driven by the increasing adoption of EVs and the need for accessible and reliable charging solutions.
“Beyond providing a basic utility, there is growing interest in turning the charging infrastructure into a revenue-generating asset through features like dynamic pricing, subscription models and partnerships with commercial establishments,” Mr. Tolentino said.
With increasing demand, businesses are also expected to provide user-friendly mobile applications to support users’ charging experience and improve the management of charging stations.
Recognizing that EV adoption is still in its early stages, EVOxCharge plans to focus on market penetration over achieving significant revenue growth, Mr. Tolentino said.
“To fuel our expansion, we are actively exploring funding opportunities from various sources including clean energy funds from various institutions,” he added.
EvoXCharge has a mobile app and web platform that allows seamless digital payments, charger operation and real-time location services.
To ensure the efficient and reliable operation of its charging stations, the app also serves as a back-end system for monitoring, support and data analysis.
“The core vision of EVOxCharge is to enable EV owners to easily locate and operate chargers without human intervention,” Mr. Tolentino said.
