VinFast Bets on Entrepreneurs with “Rentapasada” Program in the Philippines

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Most automakers entering a new market concentrate on selling vehicles. VinFast is taking a different approach in the Philippines, where it is trying to create new business owners first.

The Vietnamese electric vehicle manufacturer has expanded its Rentapasada (literally rent-to-hire) program, an initiative that allows Filipinos to launch a ride-hailing business using an electric vehicle without making the substantial upfront investment normally required to buy one. By combining vehicle access, charging, maintenance, and a dedicated ride-hailing platform, the company is positioning electric vehicles as tools for entrepreneurship rather than simply personal transportation.

To understand how this works, one needs a crash course in taxi and ride hailing in the Philippines. First, unlike Uber, where the vehicles used for the ride hailing service are owned by the drivers themselves, in the Philippines, nearly 82 percent of cars come from a “fleet,” meaning they are owned by another person (oftentimes a more moneyed relative) and driven by a hired person. Rentapasada allows a person to literally pay for the vehicle from the proceeds of the taxi service at a rate of only P1000 (less than $20) a day.

The program now offers two vehicles designed for different segments of the transport market. Drivers can choose the five-seat VF 5 for everyday urban ride-hailing or the seven-seat Limo Green for operators serving larger groups, airport transfers, and family travel. Together, the two models give aspiring transport entrepreneurs flexibility to match the vehicle with their business plans.

Unlike traditional vehicle financing, the program removes the need for drivers to purchase a vehicle before they can begin earning. The fixed daily payment allows them to generate income immediately instead of spending years paying off an auto loan before seeing a return on their investment.

For many Filipinos, that distinction is significant. Purchasing a new vehicle often requires a sizeable down payment, financing approval, and years of monthly payments, creating a barrier for individuals hoping to enter the transport industry. Rentapasada lowers the capital required, and driving becomes a business.

The program is integrated with Green GSM, VinFast’s all-electric ride-hailing service, giving drivers immediate access to passengers instead of requiring them to search independently for customers. Registration, insurance, and scheduled maintenance are included, allowing drivers to focus on operating their business while reducing unexpected ownership expenses.

Energy costs, one of the largest expenses for professional drivers, are also addressed through VinFast’s charging network. Drivers who achieve performance targets may qualify for complimentary charging at V-Green stations for more than three years, significantly reducing operating costs compared with gasoline-powered vehicles that spend much of their revenue at the fuel pump. Read again, that’s free charging for three years.

Perhaps the most distinctive feature of Rentapasada is that it is designed as more than a long-term rental arrangement. Drivers who complete their contracts may eventually purchase the same vehicle they have been operating, with the vehicle’s condition and battery health factored into its value and the security deposit credited toward the purchase price. The model creates a pathway from renter to owner while allowing drivers to build a livelihood along the way.

VinFast Philippines President Rommel Franco introduced the program during the Philippine International Motor Show as part of the company’s effort to make electric mobility more accessible while opening opportunities for more Filipinos to participate in the transport sector. Rather than focusing exclusively on selling electric vehicles, he said the company wants to lower the barriers preventing many people from entering the business and to provide them with an ecosystem that supports their long-term success.

That ecosystem extends well beyond the vehicles themselves. VinFast has been steadily building charging infrastructure through V-Green while expanding Green GSM’s presence in the country. Combined with Rentapasada, those investments create a vertically integrated model in which the company supplies the vehicle, the charging network, after-sales support, and the ride-hailing platform through which drivers earn their income.

The strategy mirrors the ecosystem VinFast has developed in Vietnam, where Green GSM has become one of the country’s largest all-electric taxi operators. Instead of waiting for private consumers to adopt electric vehicles at their own pace, the company is targeting commercial drivers whose high daily mileage allows them to realize the greatest savings from lower energy and maintenance costs.

The addition of the VF 5 alongside the Limo Green also broadens the program’s reach. The compact VF 5 is suited to city operations where maneuverability and efficiency are priorities, while the Limo Green enables operators to serve larger passenger groups and premium transport services that require additional seating capacity.

For VinFast, the Philippines represents more than another export market. It is an opportunity to demonstrate that electric vehicles can become productive business assets in developing economies where entrepreneurship often depends on affordable access to transportation.

Rather than asking Filipinos to buy an electric vehicle first and discover its benefits later, Rentapasada reverses the process. It allows drivers to earn with an EV from the outset, reduce their operating costs through an integrated support network, and, eventually, work toward owning the very vehicle that helped build their business.