Manila Electric Company announced that Movem Electric Inc., a wholly-owned subsidiary of Manila Electric Company, incorporated to own, create, develop, manufacture, produce, assemble, configure, reconfigure, use, manage, maintain, operate, repair, improve, test, build, install, license, sell, market, distribute, lease, import and export, transport service networks utilizing electric energy and other alternative energy sources, and their component charging stations, hardware, software, batteries, vehicles, accessories, parts, gadgets, digital applications, and other equipment related to the business, for the purpose of transporting passengers and merchandise, of every kind and nature, both for domestic and foreign markets, including investing, owning or holding interests in similar businesses to subsidiaries, affiliates or any entity in which the corporation has lawful interest.