VinFast Launches Battery Leasing in Philippines, Slashes EV Prices

Vietnamese electric vehicle brand VinFast has recently strengthened its battery leasing service in the Philippines by decoupling battery ownership from vehicle purchase, significantly lowering the entry barrier for buyers. As a result, prices for multiple models have been reduced: the VF 3 now starts at PHP 590,000, down from PHP 745,000; the VF 5 Plus is priced at PHP 949,000; the VF 6 Eco at PHP 1,249,000; the VF 7 Eco at PHP 1,430,000; and the flagship VF 9 Plus has dropped from PHP 5,390,000 to PHP 3,845,000. The battery leasing program operates on a monthly subscription basis, covering maintenance and replacements, with all associated responsibilities borne by the manufacturer. VinFast stated that this model, combined with a residual value guarantee program, aims to alleviate consumer concerns over high upfront costs and battery degradation, thereby accelerating EV adoption. The company emphasized that battery leasing will serve as a core component of its long-term strategy in the Philippine market.