EVs can be motorists’ way out of ‘oil anxiety’, says VinFast
Take it from this new-energy vehicle (NEV) brand who has arguably taken the most risk towards investing in the Philippines, when it says battery electric vehicles (BEVs) are your way out of “oil anxiety.”
VinFast’s lineup spans from products and services encompassing private vehicle ownership to a system of pure BEV taxi fleets (Green GSM), and pretty soon will include electric scooters, a 7-seater multipurpose vehicle, a pickup truck, and most likely electric buses. This expansion would make VinFast the fastest-growing and most visible BEV brand in the country.
And its recent inclusion in the membership roster of the Chamber of Automotive Manufacturers of the Philippines Inc (Campi) indicates that the Vietnam-based EV maker is here for the long haul.
I recently had the chance to interview VinFast Southeast Asia’s CEO, Antonio “Toti” Zara online. Despite his busy schedule, Toti was generous with his time answering my queries.
I asked him if VinFast views the current Middle East crisis as the “Black Swan” event the EV industry has been waiting for.
“VinFast does not view geopolitical tensions or fuel price volatility as a ‘Black Swan’ event for the EV industry,” Toti replied. “The transition toward green mobility is a long-term global trend that has been underway for many years, driven by technological progress, energy security considerations, and environmental priorities, with the goal of building a more sustainable transportation system over time.
“Electric vehicles may not eliminate all uncertainties, but they help motorists reduce dependence on one of the most volatile costs in transportation: Oil prices,” Toti said.
Freedom from fuel costs
Toti’s explanations echo what actual VinFast EV owners experience on the ground.
“I feel so free right now. It’s because getting an EV frees me up from fuel costs. Setting up my solar (power system) at home frees me up from Meralco costs. So, basically, two big costs in my life are eliminated. The costs that I just need to worry about are food, health and tuition for my kids,” said Sherwin Lim Ngo, a VF5 owner and administrator of the VinFast VF5 Users Philippines Facebook page.
Sherwin, a manager for a mechanical shop, got his VF5 in March 2025. He described his purchase “very timely” and “value for money,” in light of the geopolitical crisis in the Middle East that has been driving global oil prices sky high. Among all the features, Sherwin said that he has been pleasantly surprised by the VF5’s power.
“Even in eco mode, it can outrun other vehicles. It’s a small but terrible car.”
“I have nothing to fear (about maintaining this car),” Sherwin said. “The aftersales (support) of VinFast Philippines has been very good. They have been very responsive.” Sherwin said his dealership is VinFast Cainta.
On the other hand, another VinFast VF5 Users Philippines administrator, Dr. Mark Collao, a physician based in Rizal, has owned a VF5 since October 2024. His brother, who is also a physician and based in Bicol, also bought a VF5. Their sister owns a VinFast Limo Green.
Mark said he’s been happy that his VF5 is low maintenance. “I had my first periodic maintenance service (PMS) at 12,000 km. That’s for one year. I only spent P4,000 for cleaning the brakes, etc. The only thing that I consider ‘costly’ is the cabin filter. P4,000 per year. Imagine that.”
He added, “Don’t worry (anymore) about idling and the fumes that you are emitting. The acceleration, the instant torque that the car can give are awesome. According to the battery health check done at the Casa, the battery of my VF5 degraded one percent. After one year, only one percent was degraded.
“I only charge once a week, 80 up to 90 percent. That will last for one week. My work is only around Taytay, Cainta. For me, this EV is really worth the money.”
For Mark, there is no such thing as range anxiety as he carefully plans his out-of-town-trips. He already drove his VF5 thrice to Baguio and in Bicol. He also felt confident because he said that the VF5 was used as a taxi in Vietnam. “That made me decide to buy a VF5.”
Lower energy and maintenance costs
Toti explained that, for countries like the Philippines that rely heavily on imported petroleum, fluctuations in global energy markets quickly translate into higher fuel costs for consumers. In comparison, EVs offer advantages in total cost of ownership thanks to lower energy and maintenance costs, although broader adoption still requires the continued expansion of charging infrastructure and improved accessibility.
“This moment could represent an important turning point that helps accelerate the Philippines’ transition toward electric mobility. Policies such as the Electric Vehicle Industry Development Act (Evida) have already established a supportive framework for EV adoption, infrastructure development, and long-term industry growth,” he said.
Asked if he considers March 2026 as the definitive end of the “unrestrained internal combustion” era in the Philippines and how VinFast is adjusting its strategy vis a vis the current events, Toti added that VinFast and Vingroup are pursuing a long-term strategy to support the local EV ecosystem through several key areas:
VinFast: Expanding accessibility through Vingroup’s “Trade Gas for Electric” program, which offers an additional 3-percent incentive for VinFast electric cars and 5 percent for electric scooters for customers switching from gasoline vehicles. VinFast also provides battery subscription and Residual Value Guarantee (RVG) programs to enhance cost transparency and consumer confidence. The company currently operates 30 showrooms nationwide.
V-Green: Their charging infrastructure partner is expanding its network across the country. VinFast owners can charge for free and without limit at V-Green stations until 2027.
Green SM (Green GSM): As a global mobility company, GSM (Green Smart Mobility) pioneered the world’s first multi-platform ride-hailing service powered entirely by VinFast EVs.
Green taxi operators
Following its official launch in 2025, Green GSM has been expanding beyond Metro Manila to Cebu and other key urban areas.
“Beyond operating its own fleet, GSM also provides a comprehensive platform for taxi operators to transition to VinFast EVs and manage their operations directly through the GSM platform,” Toti said.
Finally, VinEnergo, Vingroup’s renewable energy arm, is partnering with local companies to develop approximately 3.8 GW of solar power capacity across Luzon, Visayas, and Mindanao. Development is expected to begin in 2026, with the first projects targeted to come online between 2027 and 2028.
