VinFast Philippines, the Vietnamese electric vehicle (EV) manufacturer that aims to make a splash in the local automotive industry, has finally opened its first three dealerships in the Philippines. At the same time, the 2024 VinFast VF5 is now officially on sale in the Philippines with an interesting business model to spur EV adoption.
That’s because with a base price of P992,000, the 2024 Vinfast VF5 is the most affordable electric subcompact crossover in the Philippines, but there’s a reason for that. The battery at this price tag is via a monthly subscription-based service, which isn’t necessarily a new business model (Chinese high-end EV manufacturer Nio does this), but is new in a Philippine context.
This business model also puts out any worries regarding the eventual battery replacement costs of an EV, but if you plan to buy the VF5 outright with the battery included, it will be a slight price jump to P1,191,000 or about the same price as a range-topping Kia Sonet SX. The vehicle comes with a seven-year warranty, including the battery.
We’ve previously explained briefly the initial lineup that VinFast will be selling in the Philippines, including the VF5, but here’s a recap of what the VF5 is. Like most of the VinFast family, the VF5 was designed by Pininfarina and Torino Design. It’s closely sized to the likes of the Geely GX3 Pro, Changan CS15, MG ZS, Toyota Raize, and even the Kia Sonet. The sole variant to be sold in the Philippines comes with stylish 17-inch wheels, automatic halogen headlights, and LED rear lights, just to name a few.
As for the interior, expect features like a 7-inch digital instrument cluster, and an 8-inch touchscreen infotainment with Apple CarPlay and Android Auto. It’s even got a PM2.5 air filter within its climate control system, as well as a degree of advanced driver-assistance systems (ADAS) features like blind spot warning and rear cross traffic alert, which comes on top of the reverse camera.
Finally, as for the drivetrain, the 2024 VinFast VF5 uses a single electric motor at the front wheels, producing 134 hp and 135 Nm of torque. With a 37.23 kWh battery, the VF5 can travel up to 326 km based on the NEDC test cycle. We’ve also got a first impressions video coming up soon, so be sure to stick to Go Flat Out PH to know our thoughts on the VF5.
Now, as for those three dealerships, these are VinFast Aseana, VinFast EDSA, and VinFast Alabang. Located in prime locations in the capital city of Manila, these dealerships will showcase the VF 5, VF 7, and VF 9 electric SUV models, though as mentioned, only the VF5 is currently available for purchase.
VinFast showrooms boast a modern and luxurious design, featuring a dominant blue color that reflects the sophistication and class of the VinFast brand. This promises Filipino customers a premium and convenient shopping experience.
Ms. Nguyen Thi Minh Ngoc, CEO of VinFast Philippines, shared: “The grand opening of VinFast’s first three dealerships in the Philippines marks a significant milestone in our journey to conquer the potential electric vehicle market here. The attention and support for VinFast in the past time has affirmed our brand appeal and potential in the Philippine market. With an increasingly expanding dealer network, VinFast is committed to bringing Filipino consumers high-quality products and dedicated service, contributing to promoting the electrification revolution and improving the quality of life.”
Mr. Allan Ong, General Director of K1 Prestige Bay Motors Inc., owner of VinFast Aseana dealership, shared: “As a strategic partner of VinFast, we’re incredibly impressed by the brand’s rapid global expansion and the immense potential it holds in the Philippine market. With our extensive experience in the automotive industry and established network of stores, we’re confident in becoming a reliable partner, working alongside VinFast to explore and thrive in this exciting market.”
VinFast plans to further expand its dealer network to major centers and cities in the Philippines throughout 2024. This network development aims to increase brand awareness, quickly exploit market potential, and meet the growing demand for electric mobility in the country.
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