Vietnamese conglomerate Vingroup plans to invest $500 million in an electric vehicle manufacturing plant in the Philippines, according to the Department of Trade and Industry (DTI).
The plant will have an initial annual production capacity of 200,000 VinFast vehicles. Construction is set to begin in the first quarter of 2027 and will take up to 18 months to complete. The facility is expected to serve both the domestic market and export markets.
The investment will expand Vingroup’s manufacturing footprint beyond Indonesia and India. The group also plans to introduce electric scooters in the Philippines.
During discussions with Vingroup vice chairman and GSM Global chairman Nguyen Quoc Tuan, the DTI outlined possible tax incentives under the CREATE MORE Act. The agency also offered faster regulatory processing through the government’s Green Lanes program.
The planned EV factory comes as the Philippines works to attract more foreign investment in electric vehicles and advanced manufacturing. The government aims to support industrial growth and the country’s energy transition through these efforts.