Vietnamese automaker VinFast is investing up to US$ 1 billion over the next three years in its all-electric taxi fleet venture in the Philippines.

The company expects to create up to 70,000 jobs as it expands operations in the country. The initiative was launched on 10th June through Green and Smart Mobility (Green GSM), a transportation network vehicle service operated by VinFast. This marked the automaker's formal entry into the Philippine market.

VinFast Philippines Chief Executive Officer Mai Anh was present at the launch event alongside officials from the Chamber of Automotive Manufacturers of the Philippines Incorporation (CAMPI), including CAMPI President Rommel Gutierrez. VinFast Philippines has joined CAMPI as part of its market entry.

Backed by VinFast's parent company, Vingroup - chaired by Vietnamese businessman Pham Nhat Vuong - Green GSM is allocating an initial US$ 500 million for the first phase of operations.

VinFast has deployed an initial batch of 2,500 electric vehicles, which are scheduled to begin servicing routes in Metro Manila within the week.

Green GSM's entry aligns with the Marcos administration's policy to modernise public utility vehicles and support the development of electric transport options in the Philippines.

"This will be a game-changer for Philippine public transport. It promises not only to modernise our transport system but, more importantly, to offer commuters a safer, more convenient, and environmentally friendly transport option," stated Frederick Go, Special Assistant to the President for Investment and Economic Affairs.

Go attended the ceremonial launch in Quezon City, which was also attended by Transportation Secretary Vince Dizon and Trade Secretary Ma. Cristina Roque.

The Green GSM fleet will include the VinFast VF5, a compact electric vehicle designed for urban use. The vehicle has a stated range of 326 kilometres and includes driver-assist technologies and an infotainment system.

The service will operate under a hybrid model combining street hailing with app-based booking. Drivers may either be employed directly or engaged as partners.

Once fully implemented, the project is expected to generate between 20,000 and 70,000 jobs in areas such as operations, fleet management, maintenance, and customer service.

The introduction of VinFast electric taxis is part of efforts to support the government's clean transport targets. These include the deployment of 2.4 million electric vehicles nationwide by 2028 and a 50% electric vehicle adoption rate by 2040, as outlined in the Electric Vehicle Industry Development Act.

Green GSM has stated that it intends to apply performance standards relating to service, safety, and environmental impact, with a focus on reducing emissions and enhancing service access through its digital platform.