VIETNAMESE electric vehicle manufacturer VinFast (VF), backed by Vietnam’s largest conglomerate Vingroup, charged the Philippines EV scenes last weekend launching 2 compact SUVs, 1 full size SUV and a hatchback as well as electric motorcycles. The Philippine launch–the third in Southeast Asia after Thailand and Indonesia–marks a significant step in its global expansion strategy.
“We are finally here and will officially launch,” Nguyen Thi Minh Ngoc, CEO and President of Vinfast Auto Philippines told Malaya Business Insight at a media dinner the day before the brand event. She also intimated that she is very confident of the growth of Vinfast in the country because of her strong team which includes Philippine automotive industry veterans.
Leading the local team is former Suzuki Philippines Assistant to the General Manager for Automobiles, Jude Racadio, who is now deputy CEO for sales and marketing. Cherrey Lou Villaster formerly of Mitsubishi Motors Philippines is now Vinfast Auto Marketing Director, while industry expansion expert Ginia Domingo formerly of Columbian Motors is Business Development Director. For aftersales, Margo Delfinado heads aftersales as its deputy CEO and Peter Garcia leads network and dealer development.
The initial lineup includes the VF e34, VF 5, VF 7, and VF 9 electric cars, as well as six electric motorcycle models and the VF DrgnFly electric bike.
“These vehicles are designed to cater to a wide range of consumer preferences, from compact city cars to spacious SUVs.Aligned with its mission to popularize electric mobility, VinFast’s strategy for entering the Philippine market revolves around three core values: “Good cars, good prices, and excellent after-sales policies,” Nguyen told Malaya Business Insight as she highlighted how VinFast products meet stringent safety standards, incorporate advanced smart features, and are offered at accessible prices.
VinFast’s entry into the Philippine market comes with a robust dealer network strategy. The company has already signed cooperation agreements with four Philippine dealers: EV Solutions, K1 Prestige Bay Motors Inc, Autoflare Corporation, and MNV Auto Group Inc. The first VinFast showrooms are expected to open in Manila by the end of June 2024, with the first customer deliveries scheduled for the third quarter of the year.
“It’s an honor to be among the first VinFast dealerships driving the electric car revolution in the Philippines. We’re impressed by VinFast’s strong market potential, thanks to their variety of vehicles and industry-leading warranty. Together, we’ll meet the growing Filipino demand for EVs and build a greener, smarter transportation future for the country,” Rafael Vincente R. Calinisan, representative of EV Solutions said.
“This collaboration marks a significant step forward, establishing VinFast’s presence and laying a strong foundation for our long-term growth in the Philippines. We’re further committed to expanding our electric vehicle dealership network across major cities, actively contributing to the unstoppable global shift towards green transportation,” Nguyen told the audience at the brand launch.
“VinFast’s appeal lies in its diverse product range, modern exterior designs, and smart features that enhance the user experience,” Jude Racadio, deputy CEO for sales and marketing at Vinfast Auto Philippines said.
To make electric vehicles more accessible to Filipino consumers, VinFast will offer both traditional car purchases and a unique battery subscription policy, which aims to lower the initial cost of ownership.
“Our battery leasing and vehicle-with-battery sales options, provide consumers with more choices. This approach will help customers reduce upfront costs by separating the battery from the vehicle price and potentially make monthly EV operating costs comparable to or even more competitive than gasoline-powered vehicles,” Nguyen explained.
“We are the first one to have a free battery replacement and maintenance program for customers who choose the battery subscription policy,” she emphasized.
VinFast’s expansion into the Philippines is a testament to its ambition to become a leading player in the global EV industry. The company is actively expanding its dealership network across the country and is committed to promoting sustainable mobility solutions in the region.
“We’re impressed by VinFast’s strong market potential, thanks to their variety of vehicles and industry-leading warranty. Together, we’ll meet the growing Filipino demand for EVs and build a greener, smarter transportation future for the country,”
“By partnering with trusted and experienced automotive companies, VinFast is determined to deliver smart and convenient electric mobility solutions to Filipino consumers as soon as possible, offering complete peace of mind.” Nguyen concluded.
The Philippines becomes the third Southeast Asian market VinFast has entered in the first half of 2024, following Indonesia and Thailand. This rapid expansion strengthens VinFast’s position in the region and demonstrates the company’s ability to quickly accelerate its presence.–with Lech P. Quiambao.
