Mei Ling cleared her throat softly and turned her gaze to Timothy.

"Now that we've established the where," she said in her calm, deliberate voice, "we should talk about the how. Specifically, how we're going to fund all of this."

The others straightened slightly. Even Robert, who was usually nonchalant, focused his attention.

Timothy nodded. "You have the floor, Ms. Tan."

She tapped the touchscreen in front of her, and a new slide appeared, bold white letters reading 'TG Mobility Regional Expansion Fund – Phase II'. Below it, neat columns of figures and pie charts.

"As of this quarter," she began, "TG Mobility Holdings maintains a consolidated liquidity position of $25.4 billion USD. Now, that might sound like an enormous sum, and it is, but not when you're dealing with multi-country industrial expansion. Between construction, logistics, equipment, and staffing, we're looking at a projected capital expenditure of $22.6 billion USD over four years."

Angela blinked. "Twenty-two point six?"

"Yes," Mei Ling said. "And that's the conservative projection. The bulk of that figure comes from three high-cost segments, Rayong, which requires full EV production capacity; Bekasi for battery development; and Haiphong for final assembly and automation. Malaysia's facility is relatively minor in comparison, about $2 billion in infrastructure, mostly electronics and power equipment."

She zoomed in on a bar chart. The display segmented the costs by country, each colored differently:

Thailand (Rayong): $9.1B

Indonesia (Bekasi & Batang): $6.8B

Vietnam (Haiphong): $4.3B

Malaysia (Johor Bahru): $2.4B

"Altogether," she said, "we're looking at a serious financial commitment. However," she turned toward Timothy, "we won't be shouldering all of this alone."

That made Robert lean forward. "You mean external funding?"

"Exactly," Mei Ling replied with a small smile. "And the good news is, they're not just investors looking for profit. These are governments, state funds, and industrial partners who want us to build within their borders."

She switched to another slide, now showing the flags of four nations.

"Thailand has offered a $2.5 billion package in incentives, tax breaks, and land lease programs through their Eastern Economic Corridor initiative. Indonesia, being eager to strengthen their EV supply chain, is willing to match that with $3 billion in co-investment through INA, the Indonesia Investment Authority. Vietnam's government has proposed low-interest financing and export guarantees equivalent to $1.8 billion USD, while Malaysia's sovereign fund, Khazanah Nasional, is prepared to take an 8% equity stake in TG Mobility's Southeast Asia Division for $1.2 billion."

Angela's jaw dropped slightly. "So… investors are literally lining up?"

Mei Ling chuckled softly. "Yes, Ms. Cruz. We didn't even have to chase them, they came to us. The regional governments see TG Mobility as the centerpiece of ASEAN's EV revolution. If we expand, they benefit from jobs, technology transfers, and infrastructure growth. It's a mutually beneficial relationship."

Akira crossed his arms thoughtfully. "So, in essence, we leverage their eagerness to reduce our capital exposure."

"Precisely," Mei Ling said. "Our total direct spending, after incentives and co-investments, will fall to around $10.7 billion USD, less than half the original projection."

Robert nodded approvingly. "Efficient. That'll keep liquidity open for future R&D."

"Not only that," Mei Ling added, "but the investors are also granting us extended repayment grace periods for loans, up to eight years for Indonesia and Thailand. They're betting on our success long-term."

Timothy, who had been listening quietly, finally spoke. "So essentially, we fund half, and the region funds the other half?"

"Yes," Mei Ling confirmed. "But that brings us to the next topic, how we structure that half."

The screen shifted again, now showing a corporate diagram. At the top was TG Mobility Holdings (Singapore). Below it, four branches: TG Motors Philippines, TG Motors Thailand, TG Battery Indonesia, and TG Components Vietnam.

Mei Ling stood up and walked closer to the display. "Currently, TG Motors operates as a private subsidiary under TG Mobility Holdings. However, given our trajectory, it's time to consider something much larger, a public offering."

Hana's eyes lit up. "You mean… IPO?"

Mei Ling nodded. "Exactly. An Initial Public Offering for TG Motors under TG Mobility Holdings. It's the most logical step forward. The automotive division has matured beyond its startup phase, it's profitable. And not only that, it's not only our ASEAN neighbors who love it, also Europe and the United States were kind of hoping they'd have TG cars rolling on their roads. So why not stop only in ASEAN when you can also construct factories in Europe and the United States."

"Elaborate," Timothy said.

Mei Ling's lips curved slightly, as if she'd been waiting for that question. She swiped her finger across the touchscreen, bringing up a new global map, this time highlighting two distant regions: Europe and North America. The TG Mobility logo hovered over them in pale blue light.

"Here's what I mean," she began. "Right now, TG Motors is dominating the ASEAN EV market. We've proven we can design, build, and deliver affordable electric vehicles at scale. But if we stop here, we'll plateau. The next step isn't just regional growth, it's global establishment."

She zoomed in on Europe first.

"Europe is currently facing an EV vacuum. With China's EV imports under heavy tariff pressure from the EU, and Tesla scaling back its lower-end models, there's a wide market gap for mid-range EVs with solid range and safety performance. TG's models and the superiority of our Lithium-X are perfectly positioned to fill that gap."

Angela nodded slowly. "So, we'd basically enter where the big players are retreating."

"Exactly," Mei Ling replied. "And we already have inquiries. Poland and Hungary have offered letters of intent to host TG factories under their renewable transition funds. Germany is interested in a joint R&D partnership, but that's a longer process. Realistically, Eastern Europe will be our production foothold, low labor cost, logistics access to the EU market, and strong EV infrastructure backing."

Then, she shifted to the map of North America.

"The United States," she continued, "is trickier, but the opportunity is massive. Thanks to the Inflation Reduction Act, foreign EV manufacturers can qualify for federal credits if they assemble vehicles domestically or source components from allied countries — ASEAN members are included. If we establish even a small-scale assembly and battery plant in the U.S., TG Motors can qualify for up to $7,500 per car in EV tax credits. That gives us an instant price advantage against existing competitors."

Robert rubbed his chin. "That's ambitious, but it'll require a different funding model. The capex alone for a U.S. or EU facility would easily double our current budget."

Mei Ling nodded. "That's why I mentioned the IPO earlier. ASEAN expansion will serve as our foundation phase. The IPO gives us liquidity, credibility, and visibility. Once TG Motors goes public, we'll have a strong enough balance sheet to attract global institutional investors, the kind that finance European and American factories."

She clicked to another slide, showing a timeline marked '2026–2032: Global Expansion Roadmap'.

Phase I (2026–2029) – ASEAN Gigafactories operational, production capacity: 1.2 million vehicles annually.

Phase II (2029–2031) – Entry into Europe: construction of the TG Poland EV Assembly and Battery Facility.

Phase III (2031–2032) – Entry into the United States: establishment of a TG Mobility R&D and assembly hub, likely in Texas or Georgia.

Timothy studied the chart in silence.

"So you're saying," Timothy said finally, "that the IPO isn't just to fund our ASEAN expansion… it's the key to unlocking global operations."

"Precisely," Mei Ling replied. "Once we list TG Motors, we shift perception, from a regional manufacturer to a global automotive player. Investors from Europe, Japan, and even the Middle East will start knocking. The market will see us as the next Tesla, but with a more diversified footprint and sustainable cost structure."

Angela grinned. "And we'd still be headquartered in Asia. That would make TG the first Asian-led global EV brand not based in China or Japan."

"Correct," Mei Ling said with a faint smile. "A Filipino-led one, at that."

"Well in that case let's do it!"

Next chapter will be updated first on this website. Come back and continue reading tomorrow, everyone!

If you find any errors ( broken links, non-standard content, etc.. ), Please let us know < report chapter > so we can fix it as soon as possible.