Green GSM Philippines has secured a P2-billion credit facility from Philippine National Bank (PNB), providing a major financial boost to the expansion of the country’s all-electric ride-hailing network as demand for sustainable urban transport gains momentum.
The partnership, formalized on June 1, combines financing and digital banking solutions aimed at accelerating Green GSM’s fleet rollout and scaling operations across key Philippine cities.
The funding is expected to support the acquisition of more electric vehicles and strengthen the company’s long-term plans to build a nationwide green mobility ecosystem.
Beyond financing, the agreement will enable Green GSM to leverage PNB’s digital banking infrastructure for its growing driver network.
Through the bank’s corporate banking platform and streamlined onboarding systems, driver account opening and activation processes are expected to become faster and more efficient, helping the company expand operations with greater speed and coordination.
Speaking at the Vietnam–Philippines Business Forum on Monday, Green GSM Southeast Asia Managing Director Dao Quy Phi said the company’s growth in the Philippines has been made possible by strong support from both the Philippine and Vietnamese governments, local authorities, and the Vietnamese Embassy in Manila.
Dao said Green GSM has already completed more than five million electric-powered rides in the Philippines, helping avoid over 6,300 tons of carbon emissions—an environmental impact comparable to planting roughly 300,000 trees. The company has also created thousands of livelihood opportunities for drivers and local partners since entering the market.
He said Green GSM views its Philippine operations as more than a business venture, describing them as part of broader efforts to deepen economic and people-to-people ties between Vietnam and the Philippines as the two countries elevate relations to a Comprehensive Strategic Partnership.
The deal underscores the growing role of banks in financing the country’s sustainability transition, while for Green GSM it provides fresh capital to accelerate growth in an increasingly competitive mobility market.
Both companies said the partnership aligns with national goals to promote green transportation, expand digital financial services, and reduce carbon emissions, positioning them at the forefront of the Philippines’ shift toward cleaner, technology-driven urban mobility.
