Greener BeeGreen ElectronicsOldest Philippine Conglomerate Ayala to Invest in Green Vehicles …

Ayala Corp., the Philippines’ oldest conglomerate, plans to invest $150 million in automobile manufacturing, taking advantage of a global move toward green cars as it expands outside its core businesses of property and banking.

“We see a shift taking place in the automobile sector — the coming to an end of the combustion engine and the move to electronics as the main driver of cars,” Ayala Corp. Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala told Haslinda Amin in a Bloomberg Television interview on Friday.

Several car dealerships and an electronic-manufacturing subsidiary that supplies half of its output to automotive manufacturers provide Ayala an avenue to “overweight the sector that’s going through massive disruption,” he said.


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