What if car ownership were paid like a Netflix subscription?

VinFast Philippines recently held a roundtable discussion about its updated battery-subscription model. Instead of paying for the car and the battery, VinFast customers have the option to pay for just the vehicle and lease the battery for a monthly subscription fee. This comes with unique advantages that make electric cars even more accessible to Filipinos.

For one, the initial cost is lower. For example, the VF 3 costs P745,000 with the battery, and P590,000 without it. With a subscription fee of P1,600 per month, it would take eight years before the subscription cost matches the difference of P155,000.

Should you decide to let go of the car, the subscription is transferable. Also, the insurance premium will be lower since the battery doesn’t need to be covered by the insurance company.

Second, this eliminates concerns about battery health. Just as how your smartphone’s battery degrades with use, the same happens with an electric car’s battery.

With VinFast’s battery subscription model, the battery will be replaced once the State of Health (SoH) drops below 70%. This means you won’t have to worry about battery maintenance or the cost of replacement—if ever you plan on using a VinFast electric car for a really long time.

Since the battery is guaranteed to be in good condition under the subscription model, the car’s value is maintained for a longer period of time. According to VinFast Southeast Asia CEO Toti Zara, the battery is the heart of an electric car. So, a 10-year-old VinFast with a fresh battery will retain its value better than a conventional car of the same age. Combine this with the company’s Residual Value Guarantee Program, and owners won’t have to worry about their car’s value plummeting the moment it rolls off the dealer.

Why is VinFast offering this, and how is it sustainable for the business?

The objective of VinFast Philippines is to encourage Filipinos to shift to electric cars by making EV ownership more accessible and by removing as many barriers as possible. The battery-subscription model is possible thanks to VinEnergo, Vingroup’s arm for renewable energy solutions, where the batteries will be recycled.

To avail of VinFast’s battery-subscription model, a contract has to be signed during the purchase of the vehicle, and this is renewable every two years. Owners can decide to pay for the battery later on (the quote depends per person), but the same can’t be done with battery subscription.

VinFast Philippines keeps track of all of its EVs through connected car technology, so if you don’t pay on time, the distributor can limit your battery’s range. And don’t even think of modifying or stealing the battery.

Take note that VinFast’s battery-subscription model is offered for only a limited time. It’s a temporary solution until EV adoption is mainstream enough among Filipinos. Even the V-Green charging stations are free-to-use only until May 2027.

“With our pioneering battery-subscription policy, we aim to remove the biggest concerns of Philippine consumers, helping VinFast electric vehicles become a truly practical and accessible choice for every household when combined with our comprehensive sales and after-sales policies,” said Zara. “This also reaffirms VinFast’s commitment to rewrite the rule of the market and create the most favorable conditions for customers in the green transition.”

To learn more about VinFast Philippines and its EV lineup, you can visit its website.