MANILA, 21 April 2025 — Businessman and Philantropist Luis “Manong Chavit” Singson, Chairman and CEO of LCS Group of Companies is set to launch the mass production of his modernized electric jeepneys on 30 April 2025 at LIMA Technology Center – Special Economic Zone (LTC-SEZ) in Malvar, Batangas with Korean partners Electric Mobility ON and Automotive Technology Institute (KATECH).
Chavit reiterated his commitment to support the government’s Public Transport Modernization Program (PTMP) by ensuring the availability of loans for modern electric vehicles (e-vehicles) to transport operators with no down payment, no interest schemes.
Singson made this assurance during the First Mindanao Transport Summit held recently in Cagayan de Oro City organized by the Liga ng Transportasyon at Operators sa Pilipinas (LTOP).
LTOP National President Orlando Marquez expressed his profound thanks to Manong Chavit Singson for his unwavering support to the country’s transport industry by offering the “No Down Payment, No Interest, and Easy Amortization Scheme” for the purchase of modern e-vehicles for the PTMP, formerly known as the Public Utility Vehicle Modernization Program (PUVMP).
These modern e-vehicles are part of a nationwide initiative to modernize the public transport system by replacing old, polluting, and inefficient vehicles with eco-friendly alternatives, Marquez said.
Singson popular known for his monicker, “May Isang Salita,” emphasized that the loan terms are designed to ease the financial burden of transport operators, enabling them to access modern vehicles without the heavy upfront costs typically associated with such purchases.
Chavit assured the members of LTOP that the processing of their loan requests would proceed, although he urged patience due to the high demand.
He explained that the production of the modern e-vehicles is limited to a maximum of 500 units per month, while there are hundreds of applicants from across the country vying for these vehicles.
Singson advised the transport operators to stay in contact with the office he established specifically for managing the loan applications while the vehicles are being produced.
Singson also highlighted that the modern e-vehicles offered through his loan program are priced significantly lower than traditional modern public utility vehicles, which can cost anywhere from P2 million to P3 million per unit.
Chavit Singson’s electric vehicles are priced at just P1.2 million each, making them affordable alternative for transport cooperatives.
The PTMP, which was launched as a response to the country’s growing public transportation challenges, aims to address the issues of outdated vehicles, safety concerns, and environmental degradation.
The program’s goal is to replace aging vehicles with safer, more environmentally friendly alternatives while ensuring that public transport drivers and operators continue to have stable livelihoods. The modernization initiative also seeks to provide commuters with faster, safer, clean and more comfortable travel options.
Singson’s loan program is an important part of this broader modernization effort. He expressed his hope that, through his initiatives, transport operators would be able to adopt cleaner, more sustainable technologies that will benefit both the environment and their businesses in the long run.
“I believe that this initiative can help transform the public transport sector by offering greener, more efficient solution for transport operators and drivers,” Chavit said.
By supporting the LTOP and other transport cooperatives, we are not only modernizing the fleet but also ensuring that the people will continue to have access to reliable and eco-friendly public transportation, he added.
