MANILA, Philippines — March 19, 2026 — Vietnamese conglomerate Vingroup is preparing to roll out a special incentive program aimed at encouraging motorists to shift from gasoline-powered vehicles to electric mobility, as global fuel prices remain volatile.
The initiative, called “Trade Gas for Electric,” will be implemented across four key markets—Vietnam, India, Indonesia, and the Philippines—and will offer additional discounts on electric vehicles produced by VinFast, Vingroup’s electric vehicle subsidiary.
Under the program, motorists who trade in older gasoline vehicles for new VinFast electric models may receive an additional 3% discount on electric cars and 5% off VinFast electric scooters, on top of existing incentives available in each market. The company said the program is designed to help consumers cope with rising fuel costs while accelerating the transition toward cleaner transportation.
Incentives tied to green mobility ecosystem
Alongside the vehicle discounts, Vingroup is also mobilizing other companies within its sustainability-focused ecosystem to support the transition to electric mobility.
GSM Green and Smart Mobility Joint Stock Company, a Vingroup affiliate, is preparing complementary initiatives for electric ride-hailing services. These include a 10% fare reduction for electric mobility services operating under the Xanh SM platform in Vietnam and Green SM in Indonesia.
The fare reduction program will run from March 11 to March 31, 2026, depending on the market, and aims to provide commuters with more affordable and environmentally friendly transportation options during a period of fuel price uncertainty.
The company said the program may be extended depending on global developments and the trajectory of international fuel prices.
Responding to geopolitical and economic pressures
According to Duong Thi Thu Trang, deputy CEO of global sales at VinFast, the initiative reflects the company’s effort to address economic pressures linked to geopolitical developments affecting fuel markets.
“The special ‘Trade Gas for Electric’ program launching across four key markets this March reflects VinFast’s timely response to geopolitical volatility affecting socio-economic conditions in many countries,” Trang said.
She added that the company aims to help reduce the impact of fuel price fluctuations on daily mobility costs while promoting more sustainable transportation options.
Accelerating EV adoption
The program will be implemented alongside other existing incentives in each market, creating a layered approach to encourage consumers to shift to electric vehicles more quickly.
Through these incentives, Vingroup said it hopes to reduce dependence on gasoline-powered transport, stabilize daily transportation costs, and support the development of cleaner urban environments.
VinFast, listed on NASDAQ: VFS, is a pure-play electric vehicle manufacturer and a subsidiary of Vingroup, one of Vietnam’s largest conglomerates. Its product lineup includes electric SUVs, e-scooters, and electric buses.
The company is currently expanding its distribution network and manufacturing capacity globally, targeting growth in North America, Europe, the Middle East, and Asia as demand for electric vehicles continues to rise.
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