THIS early, a local jeepney manufacturer has indicated their interest with Maharlika Investment Corp. (MIC) for a potential investment to them so as they can speed up the completion of the PUV Modernization Program. 

According to E-Francisco Motors Corp. CEO Elmer Francisco, they had met with Maharlika officials for the second time.

"Ang mangyayari diyan makakababa kasi yan ng cost kasi unlike sa DOTr [Department of Transportation] na subsidy, it's a dole out. Pero yung sa Maharlika is a fixed investment and it would expect a return and that will benefit the Filipinos," Francisco said.

According to Francisco, the amount of investment that they are asking from the MIC is enough to give them a boost.

"Ang proposal natin, if they can infuse an investment of $200 million... That's about P11 billion," he said.

He said that an investment by Maharlika would allow them to produce more electric jeepneys.

This would speed up the completion of the PUV modernization program.

"It will make it faster. Mas bibilis yung production, mas mabilis mako-complete yung PUV modernization program with the investment of government... Sabi ko nga we can do it with or without them, but without them it will be slower," he said.

"If you partner with government, all regulatory hurdles will be streamlined kasi kasama mo sila sa project," he added.

Francisco said that his company had been producing jeepneys for 77 years.