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VivoPower's Tembo announces definitive agreement with pre-eminent jeepney group, Sarao Motors, in the Philippines' estimated US$10bn jeepney market Iconic jeepneys are the main form of public transport in the Philippines

Key Takeaway: Tembo E-LV B.V., a subsidiary of VivoPower, has entered into a definitive agreement with Sarao Motors, a leading manufacturer of jeepneys in the Philippines. This partnership aims to electrify the jeepney transportation sector, which is vital for public transport in the country. Tembo will supply electric jeepney kits to Sarao, supporting the transition towards sustainable transport solutions. The initiative is poised to create local job opportunities while preserving the cultural significance of the jeepney in Filipino society.

Market Sentiment Analysis

POSITIVE FACTORS

  • Tembo's partnership with Sarao Motors aims to modernize and electrify Philippine jeepneys, enhancing sustainability.
  • The collaboration is expected to create local jobs and boost the economic livelihood of the jeepney industry.
  • Deliveries of electric jeepney kits are imminent, indicating swift progress in the partnership.

Full Press Release Details

Tembo announces definitive agreement with pre-eminent jeepney group, Sarao Motors, in the Philippines' estimated US$10bn jeepney
jeepneys are the main form of public transport in the Philippines, with over 200,000 in service
account for approximately one-third of carbon emissions in the country
in 1953, Sarao Motors is the Philippines' pre-eminent jeepney group
Motors selected Tembo to be its exclusive partner to provide electric jeepneys
will continue to be able to work with other companies to provide electric jeepney solutions
3 OCTOBER 2024 - 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").
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 Pi as City, Metro Manila within the next weeks.
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.
Sarao owns the largest dedicated jeepney facility in the Philippines, with over 20,000 square-metres, based in a prime location in Las
Pi as 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.
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
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."
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."
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.
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.
electric utility vehicles (EUVs) are a 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining,
agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo
provides safe, high-performance off-road and on-road electric utility vehicles. Its core purpose is to provide safe and reliable electrification
solutions for utility vehicle fleet owners, helping to perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals
and seeks to further the circular economy. Tembo is a subsidiary of VivoPower, a Nasdaq-listed B Corporation.
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.
communication includes certain statements that may constitute "forward-looking statements" for purposes of the U.S. federal
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in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes
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is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result
of new information, future events, changes in assumptions or otherwise.

Frequently Asked Questions

What is the purpose of Tembo's partnership with Sarao Motors?

Tembo's partnership aims to provide electric jeepneys and promote sustainable transport in the Philippines.

When did Sarao Motors start manufacturing jeepneys?

Sarao Motors began jeepney manufacturing in 1953, becoming a cultural icon in the Philippines.

How will the partnership impact local jobs?

The partnership is expected to create local job opportunities in the jeepney manufacturing and transport sectors.

What type of facility will Sarao Motors develop?

Sarao Motors will develop a state-of-the-art facility for sustainable energy solutions and electric jeepney production.

What does Tembo provide to electric jeepneys?

Tembo supplies state-of-the-art kits for electrifying public utility jeepneys in the Philippines.

Last updated: Oct 3, 2024