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Ayala Corp to invest Php4.7 billion in self-driving cars

Ayala Corp is investing into self-driving cars by reserving at least $100 million (Php4.7 billion). This will represent 50% of a potential joint venture with an unnamed car manufacturer.

We saw an opportunity where the automotive industry itself is being disrupted. The established manufacturing facilities are not set to produce these next-generation vehicles,” Tan said in an exclusiveinterview with Nikkei .

The Ayalas have various interests in several car dealerships in the Philippines, including Isuzu, Volkswagen and Honda but it’s not sure if the joint-venture will be with any one of them. Tan promised that negotiations should be done within 3 years and the final project plan can be revealed by then.

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Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

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