VinFast Philippines has signed a Memorandum of Understanding with Maybank Philippines to provide financing for its electric vehicle (EV) battery subscription programme, Manila Bulletin reported.

Through this agreement, Maybank becomes the first local bank to officially support the automaker’s specific battery subscription model.

Under the partnership, buyers opting for a VinFast EV with a battery subscription can access integrated financing solutions from Maybank.

These include customised loan packages with flexible payment options designed to help optimise both upfront and long-term expenses.

The battery subscription model allows customers to purchase an EV with up to 20% lower initial costs. It achieves this by charging a separate monthly fee for the battery itself.

VinFast maintains the batteries at no extra charge and will replace them for free if their capacity drops below 70%.

Antonio ‘Toti’ Zara III, CEO of VinFast Southeast Asia, noted that Maybank’s participation is a notable development for the company’s local operations.

“This collaboration helps make electric vehicle ownership more accessible and practical for Filipino consumers, and we look forward to working with more financial institutions in the future to further expand access to our flexible ownership solutions,” Zara stated.

Patrick Dennis L. Solosa, OIC-President and CEO of Maybank Philippines, highlighted the institution’s focus on sustainability.

“By combining regional strength with forward-looking mobility innovation, we are empowering customers to transition confidently toward a greener future,” Solosa added.

VinFast has operated in the Philippine market for nearly two years, steadily expanding its dealership network and aftersales infrastructure.

Featured image by Chito Bauzon via LinkedIn.