Vingroup, the Vietnamese conglomerate and parent company of electric vehicle maker VinFast, plans to invest $500 million in a new EV manufacturing facility in the Philippines as it expands its production presence in Southeast Asia.
The investment, equivalent to approximately €449 million, was announced by the Philippines’ Department of Trade and Industry (DTI) following a meeting between Trade Secretary Cristina Roque, other government officials and Vingroup Vice Chairman Nguyen Quoc Tuan.
The proposed facility would become Vingroup’s third overseas production hub, following its manufacturing operations in Indonesia and India.
Batangas Emerges as Preferred Site
The DTI has not officially disclosed the location of the planned manufacturing facility. However, Inquirer.net reported that Roque identified Batangas as the preferred location.
Located in the southwestern part of Luzon, Batangas is being considered partly because of its proximity to ports. Vingroup is reportedly seeking a site covering at least 300 hectares to accommodate the planned operations.
The company is expected to finalise the location and secure the required land ahead of its construction schedule.
Construction Target Set for Early 2027
According to the DTI, Vingroup aims to begin construction in the first quarter of 2027. The facility is expected to take between one and one-and-a-half years to complete, potentially allowing production to begin around mid-2028.
The plant is planned to have an initial annual production capacity of 200,000 vehicles. It will manufacture both electric cars and electric scooters, with car production scheduled to come first.
VinFast Expands Its Philippine Lineup
VinFast currently offers five electric car models in the Philippines: the VF 3, VF 5, VF 6, VF 7 and VF 9.
The company also entered the country’s electric two-wheeler market in July, introducing three scooter models: the Evo, Feliz II and Viper.
Local production would support VinFast’s presence across both vehicle segments, although the manufacturing rollout is expected to prioritise passenger cars before scooters.
Philippines Seeks to Attract Green Technology Investment
The proposed investment forms part of the Philippines’ efforts to attract manufacturing projects linked to electric mobility and advanced technology.
Roque said the planned facility reflects growing investor interest in the country’s manufacturing sector.
“Vingroup’s $500 million investment underscores the Philippines’ rising status as Southeast Asia’s destination of choice for advanced manufacturing and green technology. Under President Marcos Jr.’s administration, our mandate is clear: to translate investor confidence into immediate operational momentum.”