Asialink Finance Corporation (AFC), a non-bank financial institution in the Philippines, wants to make electric vehicle (EV) financing more accessible to interested individuals. As such, it has formalized partnerships with key companies to make it happen.
AFC teams up with CBEV Transport Technology Inc. (CarBEV), VinFast Fairview, and PeekUp to expand access to EV financing and support the country’s transition toward new energy vehicles. AFC said that the partnerships reflect its commitment to broadening access to mobility and transportation financing across emerging industries. Through these collaborations, AFC strengthens its presence in the EV, fleet management, and ride-hailing sectors.
CarBEV is a Philippine-based provider of EV solutions and fleet deployment services. It will work with AFC to support business and fleet operators seeking commercial vehicle financing. Meanwhile, the partnership with VinFast Fairview is expected to offer financing options for the car brand’s range of EVs.
On the other hand, the partnership with PeekUp, a Philippine ride-hailing platform, further extends AFC’s reach into the transport network vehicle service (TNVS) market by providing financing opportunities for driver-partners and entrepreneurs.
In a similar effort, VinFast Philippines has partnered with Bank of the Philippine Islands (BPI) to make electric vehicle (EV) ownership more accessible and relatively more affordable.
Through the said partnership, BPI will offer vehicle financing to qualified VinFast buyers, which is seen to help make EV ownership more manageable via BPI Auto Loan. It also aims to support VinFast PH’s Battery Subscription Program, designed to lower the cost of EV ownership and make EVs more accessible to Filipinos.
On the side of ride-hailing, Xpress Super App has launched Xpress Go, a TNVS program that aims to offer driver partners some sort of relief from the high fuel prices, which are still brought upon by the conflict in the Middle East.
Through Xpress Go, Xpress Super App is offering TNVS drivers a zero percent commission or platform fee for their first 60 days on the platform. The company noted that the program is limited to 500 driver slots in Metro Manila, with priority access for drivers operating or committing to transition to hybrid or EV vehicles through Xpress’ vehicle financing partnership with Cebuana Lhuillier or its partners.
Autocar’s Take
Asialink’s partnership with CarBEV, VinFast Fairview, and PeekUp is a nice initiative, as the goal of this partnership is to make EV financing more accessible to interested individuals. By teaming up with the said companies, Asialink would be able to tap into a more diverse and larger market, which could result in having more consumers convinced to drive home an EV.
VinFast Philippines is also making moves to make EV ownership more accessible and practical. To do this, it has partnered with BPI to make EV ownership more accessible and relatively more affordable through the BPI Auto Loan.
