Philippine taxis hit by fuel price hikes get electric lifeline from VinFast, Grab
Manila’s cab industry is turning a volatile energy crisis into an opportunity for modernisation
Add BT as a preferred source
[MANILA] Grab Philippines, the country’s dominant ride-hailing platform, and Green GSM, VinFast’s electric taxi arm, are offering a lifeline to operators hit by soaring fuel prices by rolling out hundreds of electric taxis to replace combustion engine vehicles.
In doing so, they are nudging one of South-east Asia’s more fragmented transport sectors towards cleaner, modern fleets.
The shift comes as oil prices climb on renewed tensions in the Middle East, squeezing transport workers and causing them to bleed cash at the pump because of overreliance on fossil fuels.
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore private housing is ‘decoupling’ from HDB market as buyer pools diverge: NUS survey
Not in education, employment or training: Why more Hong Kong youths are opting out of work
