Cebuana Lhuillier taps EV rewards program

Cebuana Lhuillier expects more Filipinos to ride more environment-friendly electric vehicles through its 24K Rewards program integrated into Xpress, an app-based motorcycle and four-wheel taxi provider.

Cebuana Lhuillier, a major pawnshop, remittance and microinsurance firm in the country which also runs Xpress, said the clients of the rewards program can covert directly convert their points into ride credits for BYD electric vehicles (EVs).

BYD emerged in 2023 as the world’s leading manufacturer of EVs, with 1.8 million sold units.

Cebuana Lhuillier continues to reach out to more customers through its over 3,000 branches nationwide.

Eco-friendly commuting as goal

“In collaboration with BYD, the platform recently piloted electric and hybrid vehicles to promote eco-friendly commuting. With a vision to expand its ‘Eco Fleet,’ Xpress is poised to lead the shift towards greener urban transport,” Cebuana Lhuillier said in a statement to the media.

“By integrating with Xpress, the 24K Rewards program moves beyond financial services, setting a new standard for how loyalty programs can adapt to modern lifestyles,” the financial services firm added.

According to the Electric Vehicle Association of the Philippines, EVs in the country could increase from.15,300 units to 6.6 million by 2030, as concerns about climate change from high volumes of carbon emissions grow.

Data from a survey by Standard Insights last year showed 50.8 percent of Filipinos, especially the youth, prefer EVs as their top transport mode.

Traditional vehicles account for 80 percent of carbon emissions, according to the Asian Development Bank.

According to the Bangko Sentral ng Pilipinas’ 2023 Sustainability Report, the country’s industries could lose P645 billion each year until 2030 if climate change worsens.