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Bloomberg
Taiwan’s Kwang Yang Motor Co Ltd will invest 1 billion pesos ($19.3 million) in a new motorcycle plant in the Philippines where the traffic logjam is boosting demand for bikes.
KYMCO Philippines Inc’s new plant will boost its monthly capacity to at least 6,000 motorbikes when it opens in 2023, President Allan Santiago said at a briefing in Manila.
Its existing plant can produce 5,000 units a month, triple its Philippines sales of about 1,500 units.
Currently, only one in 25 people in the country own a motorcycle, he said.