VinFast electrifies drive-to-earn space

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VinFast Philippines CEO Rhomel Franco (left) and VinFast Philippines Deputy CEO for Sales and Dealer Recruitment Victor Vela — PHOTO BY KAP MACEDA AGUILA

Mr. Franco at the public launch of Rentapasada at the recent Philippine International Motor Show — PHOTO BY KAP MACEDA AGUILA

ASK VINFAST officials and they will say that full-electric mobility has already moved well beyond novelty — emerging as a practical and viable path toward sustainable transportation and more cost-efficient ownership.

But the battery electric vehicle (BEV) specialist believes the proposition should not stop there. Why not, it argues, harness the advantages of the format to help people earn a living as well?

As VinFast Philippines CEO Rhomel Franco put it, “How can we make electric mobility more useful in the everyday lives of Filipinos — not just a cleaner way to travel but… something that fits real budgets and real plans for the future?”

Toward this end, the company, together with affiliated app-based taxi and ride-hailing service Green GSM — similarly backed by Vietnamese conglomerate Vingroup — recently introduced Rentapasada, a “drive-to-earn” rental program built around a brand-new VinFast vehicle deployed as a transport network vehicle service (TNVS) unit. Qualified drivers may operate either the five-seater hatchback Herio Green or the three-row, seven-seater Limo Green.

The idea of using a vehicle to make a living is, of course, hardly new. What VinFast and Green GSM seek to emphasize, however, is the ease and simplicity woven into the program. Mr. Franco said Rentapasada was designed to be “approachable,” with requirements to get started described as being “modest.”

Meanwhile, VinFast Philippines Deputy CEO for Sales and Dealer Recruitment Victor Vela explained that the program significantly lowers the financial barrier to entry. Drivers can start with rental rates beginning at P1,050 per day, plus an initial P5,000 and a refundable security deposit of P101,000 for the Herio Green or P129,000 for the Limo Green. Factoring in monthly rental fees of P30,435 for the Herio Green and P39,130 for the Limo Green, total daily deductions come to P1,300 and P1,650, respectively.

Rentapasada partners will share a booking platform with the aforementioned Green GSM taxis — those now-familiar, cyan-colored units. Charging is free until March 31, 2029 at all V-Green charging points. The charging infrastructure company, established by VinFast Founder and Chairman Pham Nhat Vuong, continues to expand its footprint in the country in support of the automaker’s aspirations.

Applicants to Rentapasada must hold a professional driver’s license. They also need to secure an NBI (National Bureau of Investigation) or police clearance, obtain a medical certificate, pass a drug test, and have a tax identification number (TIN).

VinFast, through Green GSM, will shoulder vehicle registration, inspection fees, road maintenance fees, PAMI (Passenger Accident Management and Insurance Agency, Inc.) insurance, vehicle insurance and comprehensive third-party liability, periodic maintenance fees, and GPS installation. For the driver’s account are the TNVS registration application — though Green GSM will provide assistance — third-party charging costs, toll fees, parking fees, traffic violation penalties, and repair costs.

Rentapasada’s standard initial contract period runs for five years, with an option to extend by three more. In the first year, the driver receives 90% of earnings, subject to government fees and taxes; this becomes 85% in the second and third years. The income share for succeeding years is yet to be determined.

There are, of course, driver commitments: He or she must log 250 trips a month, maintain at least a 90% acceptance rate, and achieve at least a 90% completion rate.

Compared with internal combustion engine-powered equivalents, VinFast/Green GSM units are said to require a lower initial cash outlay — particularly for rented units versus outright purchases — although monthly installments may be slightly higher. Where the VinFast units are expected to shine is in zero-expense charging versus the regular fuel costs of ICE models, helping unlock nearly double the net revenue.

Mr. Franco concluded, “We see Rentapasada as an invitation to drivers, to aspiring operators, and to everyday Filipinos looking for a practical way forward. When we talk about making mobility more useful, we mean giving Filipinos more ways to move, more ways to earn, and more ways to take part in the growing ride-hailing economy, and we want to play our part in making that possible, together with our partners.”

Launched at this year’s Philippine International Motor Show (PIMS), VinFast said Rentapasada — together with Green GSM and V-Green — form part of “a connected ecosystem designed to address key barriers to EV adoption.”