On November 10, a delegation led by the Senior Vice President of BDO UNIBANK INC, the largest bank in the Philippines, visited the Chinese headquarters of OMODA & JAECOO. The two parties engaged in in-depth discussions aimed at jointly fostering innovation and development in the automotive finance sector in the Philippines. The successful signing of a Memorandum of Understanding (MOU) marked the commencement of their collaboration to explore new, high-quality financial service models tailored to the automotive market in the Philippines.
In recent years, the Philippines has witnessed steady economic and trade development, along with a consistent growth in residents’ incomes, leading to an enhanced capacity for automobile consumption. According to statistics from the Philippine government, the country had a vehicle ownership of 4.95 million in 2022, equating to 50 vehicles per thousand people, indicating significant potential for future growth. Furthermore, the Philippine government has introduced a series of green travel measures, including the elimination of tariffs on electric vehicles, bringing profound transformative opportunities to the local automotive market.
Against this backdrop, OMODA and JAECOO, in collaboration with BDO, are targeting the diverse travel needs of the younger demographic in the Philippines. The parties have reached a consensus on the new “travel + life” concept as their future direction for collaborative development, aiming to jointly support the intelligent, low-carbon transportation movement in the Philippines.
OMODA and JAECOO will leverage their parent company’s strengths in automobile manufacturing, intelligence, and electrification to deliver higher-spec, quality automotive products to the local youth. As one of the largest banks in the Philippines, BDO Bank will provide professional financing and loan services to support OMODA and JAECOO in offering consumers more convenient and innovative automotive finance solutions.
During their visit to China, the BDO Bank delegation also toured the smart factory of OMODA and JAECOO located in Wuhu, China. Leading in green manufacturing and intelligent digital technology, this factory stands as a first-class green and intelligent benchmark in China and a demonstration zone for intelligent networked vehicles. The delegation unanimously praised the factory’s manufacturing prowess in electrification, intelligence, networking, and sharing. Furthermore, they immersed themselves in the driving experience of star models such as OMODA 5, J7, and J8 on OMODA and JAECOO’s comprehensive professional track, savoring the exceptional product strength forged by the super factory.
With the deepening collaboration between OMODA, JAECOO, and BDO, their stride into the Philippine market is expected to grow more robust. We look forward to OMODA and JAECOO enriching the local users’ travel options and ushering in a new paradigm for future travel with their value-added intelligent automotive products.