Starting a transport business in the Philippines has long required a significant financial commitment, with aspiring ride-hailing drivers often needing to secure a vehicle loan before earning their first fare. VinFast Philippines believes it has found a way to change that.
The Vietnamese electric vehicle brand, together with Green GSM, has introduced Rentapasada, a drive-to-earn EV rental program designed to make ride-hailing entrepreneurship more accessible by reducing upfront costs and offering participants a path toward eventual vehicle ownership.
Instead of requiring participants to purchase a vehicle outright, the program allows qualified drivers to begin operating with a P5,000 registration payment. The remaining security deposit and TNVS registration fees are gradually deducted from daily earnings, easing the financial burden typically associated with entering the ride-hailing industry.
Participants can choose between the VinFast Herio Green and the seven-seat Limo Green. Rental fees are fixed at P1,050 and P1,350 per day, respectively, under a five-year contract that may be extended by another three years. Drivers also have the option to purchase their vehicle based on its residual value at the end of the agreement.
The program also introduces a revenue-sharing model that allows drivers to retain 90% of their earnings during the first year and 85% in the second and third years, giving them a larger share of their daily income compared to traditional operator arrangements.
VinFast also points to the lower operating costs of electric vehicles as one of Rentapasada’s key advantages. The company estimates that a full-time Herio Green driver covering around 3,500 kilometers each month would spend about P5,600 on electricity, compared to roughly P15,500 in gasoline for a comparable crossover. Over two years, the projected savings could exceed P237,000. Similar cost advantages are also cited for the larger Limo Green compared to conventional gasoline-powered MPVs.
Another potential benefit comes from local exemptions that allow electric vehicles to operate despite number coding restrictions in areas implementing the Electric Vehicle Industry Development Act (EVIDA). According to VinFast, this could allow eligible drivers to work an additional day each week, increasing earning opportunities.
With the continued expansion of electric mobility in the Philippines, programs like Rentapasada highlight how EV adoption is beginning to extend beyond private ownership, positioning electric vehicles as tools for entrepreneurship and income generation.
Autocar’s Take
Rentapasada is one of the more interesting EV initiatives we’ve seen because it shifts the conversation away from simply selling electric vehicles. Instead, it focuses on creating opportunities for Filipinos who want to earn through ride-hailing but struggle with the high cost of entry. While its long-term success will ultimately depend on driver demand, charging accessibility, and real-world operating costs, the concept addresses several long-standing barriers at once. If executed well, the VinFast Rentapasada program could become a practical example of how EV ride-hailing can help make electric vehicle entrepreneurship more attainable in the Philippines.
