Elmer Francisco is set on revitalizing the family business by introducing a new fully electric jeep, available for an exclusive price of P985,000 for the initial 1,000 purchasers.
The pricing announcement took place on November 30, as Francisco utilized his social media platform, jeepney.io, to engage with potential buyers through a Zoom meeting. The social media app has amassed 10 million users and is now accessible on Google Playstore.
From the P50,000 non-refundable reservation fee for the first 1,000 electric jeeps, Francisco stands to gain around P50 million. The gross sales generated from this initial batch of 1,000 units are expected to reach close to P1 billion.
Notably, Francisco’s electric jeeps are significantly more cost-effective than the modern jeeps currently in operation, which carry a price tag of P2.5-P3 million.
Under the Elmer Francisco Motor Corporation (eFMC), Francisco has engaged in a joint venture with VivoPower International PLC to supply electrification kits for the new generation of electric jeepneys.
In alignment with the public utility vehicle modernization program, which aims to replace over 200,000 jeepneys, Francisco is making a significant investment of $1.5 billion for a manufacturing facility in Camarines Norte to seize this opportunity.
Francisco aspires to resurrect the Pinoy Asian Utility Vehicle, ensuring compliance with national standards.