Vingroup plans US$500 million EV plant in the Philippines
The proposed facility would initially produce 200,000 vehicles a year for Philippine buyers and export markets, according to the trade department.
Vietnamese conglomerate Vingroup plans to spend US$500 million on an electric vehicle manufacturing plant in the Philippines, the Department of Trade and Industry (DTI) said. The group behind EV maker VinFast is targeting construction to begin in the first quarter of 2027.
The facility is designed for initial annual output of 200,000 vehicles, supplying both Philippine and overseas markets. Development is expected to take one and a half years. Vingroup also intends to bring its e-scooter range to the Philippines alongside four-wheeled EVs.
DTI Secretary Cristina Roque discussed the proposed factory with Vingroup officials, including Nguyen Quoc Tuan, Vingroup vice chairman and GSM Global chairman. The department outlined government support and incentives available to the project.
Those measures include CREATE MORE Act tax incentives and faster regulatory processing through the Green Lanes mechanism under Executive Order 18. The government also offers the EV Incentive Strategy to encourage domestic EV production.
Roque said the DTI would help facilitate the manufacturing investment. She also said Vingroup was interested in Philippine investments in hospitals and entertainment or theme parks, beyond its vehicle manufacturing plans.
