The MVP Group said about ₱1.5 billion budget is needed to allocate for modern jeepneys.
Modern jeepney operator Byahe of tycoon Manuel V. Pangilinan will need to spend more than ₱1.5 billion to acquire over 500 jeepneys to ply at least 35 routes in the country by 2027.
Chief executive officer of Byahe Laurence Bahia announced that they are planning to increase the firm’s jeepney fleet by an average of 100 each year to reach 530 e-vehicles by 2027.
Bahia said that 40 percent of the jeepneys will be electric vehicles in an effort to attract investors interested in sustainable investments.
“We have investors who are keen on these e-vehicles. They are looking at the path of sustainability, the reason we are introducing a lot of innovation to make the operation of e-jeepneys viable,” Bahia said.
These electric vehicles have caught the attention of investors. They are considering the sustainable way, a good idea of constantly innovating for public transportation to keep the operation of e-jeepneys feasible.
He noted that over ₱1.5 billion would be needed to finance the purchase of these e-vehicles.
Bahia also emphasized these modern jeepneys would be placed mostly in Metro Manila and Central Luzon and some in the urban centers of Cebu and Davao.
Byahe operates modern jeepneys around Metro Manila, with the highest passenger volume recorded in its Cubao-Divisoria route.
He said Byahe would be able to hire more drivers, who would be paid minimum wage with the opportunity of overtime pay.
“We approved four to five hours of overtime daily. That would bring them around ₱24,000 in net take-home every month,” he said.
“Transportation is not just about running vehicles, it is also about human resources so we have to take good care of our drivers,” he added.
Meanwhile, Bahia said Byahe would comply with the Land Transportation Franchising and Regulatory Board (LTFRB)’s directive on the transport prices to increase jeepney fares beginning Oct. 3.
The LTFRB increased fares hikes for modern jeepneys from ₱13 to ₱14, respectively.
Byahe, founded by IP Ventures CEO Enrique Gonzalez and former Grab Philippines CEO Brian Cu, serves as an operator of modern jeepneys across seven routes in Metro Manila, Pampanga and Nueva Ecija.
Tags: #ejeepneys, #LTFRB