Photo courtesy of BOI
MANILA – TRINX Bicycle Sport Technology Corp. (TBSTC), a joint venture of Filipino and Chinese companies, will be putting up a bicycle manufacturing plant in Sta. Maria, Bulacan.
The Board of Investments (BOI) has approved TBSTC’s PHP356-million bike manufacturing facility under the export activities category of the 2020 Investments Priorities Plan (IPP).
The company targets to start its operation this September, initially employing 65 personnel and up to 100 staff by its fifth year of operation.
The facility will have a capacity of producing 200,000 units of road and mountain bikes, foldable electric bikes, and other bike variants.
Seventy-five percent of their manufactured bikes will be exported to the United States and Europe, and the rest will be sold in the booming local market.
“This is timely and relevant, as it will not only supply the local demand for bicycles and electric bikes but also strengthen our position as a net exporter of bicycles with strong demand from overseas markets, including those in which we enjoy zero-duties under the Generalized System of Preferences (GSP) scheme,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said in a statement Wednesday.
Guangzhou-based Trinity Group owns 40 percent of TBSTC.
Trinity Group owns the TRINX bike, a top bike brand in China with over 1,000 sales outlets there.
The company currently has 13 bicycle assembly lines and 14 painting production lines across the world with strategic bases in Russia, India, America, and Thailand.
Rodolfo earlier urged bike manufacturers to invest in the Philippines.
He said it is an opportune time for bike makers to locate in the country with the increasing demand for two-wheel vehicles amid the pandemic. (PNA)
