Seaoil Philippines Inc., an independent fuel marketer, has signed a memorandum of agreement (MoA) with Potentia Holdings Inc. (PHI) to develop electric vehicle (EV) charging stations in the Philippines.

A consortium, led by Potentia Holdings Inc., includes GM Energy Construction Philippines Inc., Malayan Pacific Power Holdings Corp. and Amsteel Structures Inc.

The consortium will undertake the development of EV charging facilities in the Philippines, in anticipation that the electric vehicle market in the Philippines will experience fast growth.

Seaoil currently has more than 650 service stations nationwide. The company plans to expand its retail network to 1,000 stations by next year. Together with its aggressive expansion plans, Seaoil Philippines is introducing new services to address new market opportunities. Recently, Seaoil has introduced  its own branded service center, LubeServ, which offers automotive repairs and lubricant services.

Leveraging its experience in petroleum products distribution, Seaoil plans to develop EV charging stations within its retail network in the near future.