Teraspan Inc. is investing over P170 million in the Philippines for the manufacture of the “Weigen” motorcycle brand in the country, according to the Board of Investments (BOI).

BOI Managing Head Ceferino S. Rodolfo cited the approval of Teraspan’s project as very relevant during the pandemic.

Based on its application, Teraspan’s investment will be used for setting up of motorcycle assembly and parts and components manufacturing within one year from date of registration otherwise, appropriate sanctions shall be imposed without prejudice to the cancellation of its registration with the Motor Vehicle Development Program.

“As soon as it starts operating and selling its initial units of ‘Weigen’ - 3-wheeler engine-power units and 3-wheeler electric vehicles -- it will provide solo personnel mobility options at a time when social and physical distancing is of utmost importance,” Rodolfo said.  

In approving this motorcycle project, Rodolfo cited the need for mobility especially during this pandemic to keep goods and people flowing smoothly despite the pandemic, with the approval of the project that involves the production of new ‘Weigen’ motorcycle.  

The “Weigen” is designed to provide easy and affordable mobility to individuals at a time of social distancing and limited public transportation.   

Even under general community quarantine (GCQ) level, Rodolfo said “the need for mobility is undiminished and as such, we welcome affordable and reliable means of transportation and delivery like these.”  

The motorcycle market in the Philippines is the fifth largest in the world. Sales of motorcycles grew by 8 percent before the pandemic, prior to the pandemic requiring government to impose lockdowns on production and distribution centers. However, a strong recovery in the market is expected for the rest of 2020. With the pandemic, Rodolfo said “Continued movement of goods and workers is an absolutely essential part of our economic recovery plan. We are determined to do everything we can to help businesses of all kinds resolve any issues they have with their supply chain or workforce.”