SM PRIME Holdings, Inc. is planning to install 50 additional electric vehicle (EV) charging stations nationwide by end-2025, supporting its long-term push for sustainable mobility.
The listed property developer said it deployed 131 EV charging stations in the first quarter across its malls and office developments, as part of its efforts to expand green infrastructure and clean transport options.
“SM Prime has strategically deployed EV charging stations across its malls and office developments to support low-emission transport,” the company said in a disclosure to the stock exchange on Wednesday.
“Future installations are also planned for its residential communities and leisure estates, making sustainable mobility more accessible across its integrated property portfolio,” it added.
SM Prime said its charging stations comply with national standards and safety protocols. The company is accredited by the Department of Energy as an Electric Vehicle Charging Station (EVCS) Provider-Operator.
“Integrating sustainable practices into our operations is a core part of SM Prime’s long-term strategy,” SM Prime President Jeffrey C. Lim said. “Through this initiative, we are also supporting the government’s vision for an inclusive and future-ready EV ecosystem.”
Under the Comprehensive Roadmap for the Electric Vehicle Industry, the government is targeting a 10% EV fleet share under a business-as-usual scenario by 2040. A higher target of at least 50% has been set under a clean energy scenario.
The Chamber of Automotive Manufacturers of the Philippines, Inc. earlier projected EV sales to grow by 7% this year, with annual purchases expected to reach 20,000 units.
SM Prime said it aims to be a key player in the country’s low-carbon future, leveraging its footprint and sustained investments in integrated property developments and green technologies.
With its expanding EV charging network, the company said it is contributing to the transformation of the country’s transport sector while advancing climate-resilient urban development.
“We are focused on making sustainability practical and accessible. Expanding our EV charging network is one way we are enabling Filipinos to adopt greener habits as part of daily life,” Mr. Lim said.
On Thursday, shares in SM Prime rose by 4.13% or P1 to close at P25.20. — Beatriz Marie D. Cruz