Vingroup is considering a $500 million investment to build an electric vehicle plant in the Philippines, according to the Philippine Department of Trade and Industry, VnExpress reported on 22 October. The plan is still under consideration: VnExpress said Vingroup had not commented, and no investment decision has been announced.
What the Philippine side said
The department said the two sides had discussed the project. If it goes ahead, construction could start in the first quarter of 2027 and take about 1.5 years. The plant would be designed to make about 200,000 vehicles a year for both the domestic market and export. Beyond cars, Vingroup also aims to bring electric motorbikes to the Philippines.
The talks were held with Nguyen Quoc Tuan, Vingroup vice chairman and chairman of ride-hailing firm Green SM. Philippine officials presented support measures, including some tax incentives under the CREATE More Act and faster processing of paperwork. Trade Secretary Cristina A. Roque said the department stood ready to help the investor during implementation. VnExpress also cited Vingroup as saying local authorities want the company to build a plant to create jobs.
Vingroup's path in the Philippines
Compiled by KBVN+ from VnExpress:
| Date | Milestone |
|---|---|
| May 2024 | VinFast starts selling electric cars in the Philippines |
| June 2025 | Green SM, founded by billionaire Pham Nhat Vuong, launches in the Philippines |
| 22 Oct 2026 | Philippine trade department says Vingroup is considering a $500m plant |
| Q1 2027 | Possible construction start, per the Philippine side |
Factories and VinFast's numbers
Vingroup already owns two EV plants abroad, in Indonesia and India, with combined capacity of 100,000 cars a year, VnExpress said. At a designed 200,000 vehicles a year, the Philippine plant would have twice their combined capacity. In June 2026 the group transferred its two factories and its entire manufacturing business in Vietnam, booking a gain of about 12,500 billion dong.
| VinFast, first half of 2026 | Figure | Year on year |
|---|---|---|
| Revenue | nearly 53,200 billion dong (about $2.1bn) | up 61% |
| EVs delivered worldwide | about 128,685 | up 77% |
| Net loss | nearly 28,400 billion dong | narrowed from more than 38,300 billion dong |
For a Vietnamese private conglomerate, the project would mark a move from selling cars in the Philippines to making them there, after Vingroup handed over its manufacturing at home. VinFast is growing sales quickly but still losing heavily, which makes any $500m commitment significant for the group's shareholders and partners. All details so far come from the Philippine government, via VnExpress.
What comes next
The next step is an official confirmation, or not, from Vingroup. If the project is approved, the Philippine side says construction could begin in the first quarter of 2027 and last about 1.5 years. The source does not name a site or detail the tax incentives the project could receive.