Cost Plus eyes going global, seeks investors at HK battery tech expo
Cost Plus Inc., a Filipino tech company focusing on building off-grid plants, is eyeing to expand to the global market, seeking foreign investors as it represented the country at the Battery Show Asia and Mobility Tech Expo in Hong Kong.
In a news release on Tuesday, Cost Plus said it partnered with the Department of Trade and Industry (DTI) to represent the Philippines at the battery and energy storage technology expo held from July 15 to 17, 2025.
Cost Plus showcased its energy innovation, Kidlat EV—a system designed to power underserved communities.
'It's not just about electricity… It's about enabling education, internet, clean water, and sustainable cooking in communities that need it most. We've proven it works here—and now we're scaling globally to help the 800 million people still without reliable energy,' said CostPlus founder and president Anand Mahtani.
'Bringing our products for the world to see—and seeing people's reactions—gives us immense validation,' he added.
Cost Plus said its Kidlat EV system has already powered over 27,000 homes, schools, and community hubs in the Philippines, was among the expo's standout solutions.
'We're proving that Filipino innovation can improve lives, not just at home but across the globe,' said Mahtani.
For his part, John Yzrael Nalda of the DTI Export Marketing Bureau said, 'This event creates new opportunities for Philippine companies to expand their reach and grow our exporter base.'
Nalda said that 'organizers are now recognizing Southeast Asia as a key player in electric vehicles, critical minerals, and mobility solutions.'
Likewise, DTI Hong Kong Vice Consul for Commercial Roberto Mabalot Jr. said the government's cited push to strengthen trade and technology ties in the region, adding that participating in global expos would help boost the economy through increased investment and job opportunities for Filipinos. — Ted Cordero/BM, GMA Integrated News
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GMA Network
8 hours ago
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Inflation, economy, price of rice: Where PH stands since SONA 2024
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In 2024, the economy only grew by 5.7%, revised from earlier reported 5.6% growth, below the 6.0% to 7.0% target for the year. Growth surpassed the target ceiling in 2022 at 7.6%. As of the first quarter of 2025, the country's GDP grew by 5.4%, faster than the upwardly revised growth rate of 5.3% in the last quarter of 2024. With missed targets, the Development Budget Coordination Committee has slashed again the growth goals for 2025 to 5.5% to 6.5% range from the previous target of 6.0% to 8.0%. The economic team cited heightened global uncertainties, such as the unforeseen escalation of tensions in the Middle East and the imposition of US tariffs as considerations for adjusting the growth targets. Nonetheless, the administration's aspiration to elevate the Philippines to upper-middle-income country (UMIC) seems to be getting closer, as it missed the minimum for entering the UMIC bracket under the World Bank's classification by $26. The country remained a lower-middle-income economy as its GNI per capita in 2024 stood at $4,470, while the required GNI per capita to enter the UMIC roster was at $4,496 to $13,935. — BM/NB, GMA Integrated News
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GMA Network
a day ago
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Salceda optimistic about PH entering into FTA with US
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