Vingroup Offers EV Discounts as Philippines Fuel Surges P24
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- Vingroup rolled out its "Trade Gas for Electric" campaign in the Philippines from March 11 to March 31, 2026, in direct response to a Department of Energy-flagged fuel price spike of up to P24 (~$0.55) per liter — described as the highest single jump in the country's history.
- VinFast is layering a 3% trade-in discount on its VF 3, VF 5, VF 6, and VF 7 EVs for customers surrendering internal combustion vehicles, plus a 5% discount on its electric scooters aimed at the millions of Filipino two-wheeler commuters.
- Green SM, Vingroup's all-electric taxi and ride-hailing service, is cutting fares by 10% through the end of March to offer a cheaper alternative to fuel-dependent transport during the price surge.
- VinFast opened its 30th Philippine dealership in Caloocan and is accelerating V-Green charging-station deployment along major corridors including the North Luzon Expressway.
- VinFast's battery subscription program separates battery cost from vehicle purchase price, lowering the upfront cost of going electric — a structure the campaign stacks on top of existing tax benefits.
- Duong Thi Thu Trang, Deputy CEO for Global Sales at VinFast, framed the fuel volatility as "a wake-up call" and positioned the group's expansion across the Philippines, Indonesia, and India as a long-term hedge against such economic shocks.
- Vinfast inaugurated a 50,000-unit-per-year plant in Subang, Indonesia with agreements to supply 20,000 EVs to local transport partners, and opened an integrated EV plant in Tamil Nadu, India — its first large-scale factory outside Southeast Asia — with plans for 75 Indian showrooms by end of 2026.
Why it matters: By stacking vehicle discounts, scooter incentives, ride-hail fare cuts, and battery subscription savings into a single 20-day window, Vingroup is converting an acute fuel shock into a customer-acquisition sprint for VinFast — and the trade-in requirement means the campaign pulls ICE vehicles off Philippine roads while putting more of its own EVs on them.
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