- VinFast plans Philippines expansion after visiting chairman secures dealer networks.
- Partnerships aim to electrify public transport and boost AI, medical research.
- Marcos seeks domestic EV production to limit raw material exports.
On the heels of the Philippines’ new electric vehicle (EV) manufacturing roadmap announced last October, the nation welcomed an influential guest this January – Vietnamese conglomerate Vingroup’s chairman and billionaire Pham Nhat Vuong.
His visit prompted major revelations around Vingroup’s burgeoning EV brand VinFast and its growth strategy for the Filipino market.
Marcos Jr.’s Vision for EV Expansion
In a statement after high-level economic discussions, President Ferdinand Marcos Jr. spotlighted the Philippines as a “strategic market” for VinFast’s international expansion plans.
Indeed, VinFast now aims to launch dealership networks across the archipelago before year’s end. This launch signals just the first phase in an ambitious philanthropic and economic alliance.
Broader Impact of EV
The collaborations also touched on public transportation electrification projects and even AI and medical research partnerships between Vietnamese and Filipino universities.
While declaring the nation’s wealth of battery-grade metal resources, President Marcos reaffirmed commitments to build domestic ore processing to supply future EV production rather than export raw materials abroad.
Southeast Asia accelerates EV adoption, and VinFast’s impending entry escalates the Philippines’ status as a rising regional hub for next-generation vehicles.
Vingroup’s engagements across sectors also showcase the multiplier effect transport electrification could have in strengthening Filipino innovation and self-reliance.
