VINFAST PHL STILL ON 'MARKET DISRUPTION' MODE WITH BUYBACK PROGRAM

As the country's automotive industry - as with the rest of the world - appears to be reconsidering the previously mad dash to full electric, it behooves BEV (battery electric vehicle) champions to not just make their case for the powertrain, but ensure that the transition to it is both palatable and truly viable.

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(KAP MACEDA AGUILA)

This effort is even more crucial for brands that have gone all-in on electric, such as in the case of Vietnam-headquartered VinFast.

Following the start of its “Pili-Pilipinas” campaign, which gives Filipinos a voice in choosing the design of the next-generation model lines of the BEV specialist to be rolled out here, VinFast Philippines formally announced the implementation of its Residual Value Guarantee (RVG) Program. Said to be the first of its kind (and following a successful introduction in Indonesia), RVG “provides a guaranteed vehicle value of up to 90 percent of the original price. This pioneering policy provides customers greater peace of mind when transitioning to electric vehicles, accelerates the broader shift toward green mobility, and reaffirms VinFast's long-term commitment to the Philippine market,” stated the firm in a release.

This unprecedented move is obviously about VinFast more loudly sending the message that it is confident about its vehicles that it's willing to bet on them - as well as bet on BEVs, period.