The Bank of the Philippine Islands (BPI) is accelerating its push into electric vehicle (EV) financing, with its loan portfolio climbing 18% to about P12 billion as of end–first quarter, buoyed by stronger demand and improving affordability.
A significant share of that growth is tied to BYD, whose models account for roughly half of BPI’s EV financing, underscoring the brand’s rising foothold in the Philippine market.
Maria Cristina Go, BPI executive vice president and head of consumer banking, said elevated fuel costs have nudged consumers toward electrification.
The shift, she noted, reflects both necessity and growing confidence in EV ownership.
“This crisis really made us even more determined to shift,” she said, referring to volatile oil prices.
EV loans now comprise 12 percent of BPI’s total auto lending portfolio, up from 8 percent at end-2025—an indication that the segment is moving beyond early adopters into more mainstream acceptance.
Still, Go acknowledged uncertainty over whether demand will hold if fuel prices ease, though she remains optimistic that falling vehicle costs will sustain interest.
Competition is also intensifying, with more Chinese automakers entering the market and expanding model choices. This influx is expected to help bring prices down further, improving accessibility for Filipino buyers.
BPI launched its EV financing initiative last year under its broader green solutions program, initially encountering headwinds tied to limited charging infrastructure.
Conditions are gradually improving, however, with AC Mobility expanding charging stations across malls, residential developments, and select bank branches.
The Ayala-led unit, part of Ayala Corporation, also distributes BYD vehicles locally, creating a tighter ecosystem supporting EV adoption. Meanwhile, BPI has enhanced loan terms with lower down payments and extended repayment periods to further drive uptake.
