VinFast Philippines and Green GSM Philippines are positioning their Rentapasada program as a lower-cost path into the ride-hailing business, using electric vehicles to reduce both the upfront investment and day-to-day operating expenses that often discourage aspiring TNVS drivers.
The companies said the program removes one of the biggest financial hurdles for new drivers. Instead of securing vehicle financing and paying a substantial down payment before earning their first fare, participants pay only a P5,000 registration fee, while the remaining security deposit and TNVS registration costs are deducted gradually from future earnings.
The economics become more compelling once drivers begin operating, as electric vehicles significantly reduce fuel expenses, traditionally one of the largest costs for ride-hailing operators.
Based on the companies’ estimates, a full-time driver covering about 3,500 kilometers a month would spend roughly P5,600 on electricity to charge a VinFast Herio Green using standard residential power rates. A comparable gasoline-powered crossover traveling the same distance would consume about 238 liters of fuel, costing around P15,500 at current pump prices.
That translates to monthly savings of nearly P10,000, or more than P237,000 over two years, highlighting one of the strongest economic arguments for electric vehicles in commercial transport.
The program also offers fixed daily rental rates, allowing drivers to better manage cash flow and avoid the uncertainties associated with vehicle ownership. In areas where electric vehicles are exempt from the number coding scheme, drivers can also stay on the road an extra day each week, creating additional income opportunities.
As competition intensifies in the ride-hailing industry, programs that lower barriers to entry while reducing operating costs could accelerate the adoption of electric vehicles beyond environmental considerations. For many drivers, the business case may ultimately be defined less by sustainability than by the potential to keep a larger share of every fare they earn.
