Starting a ride-hailing business usually requires a car before a driver can accept the first booking. That condition alone can place the business out of reach for Filipinos who have the time and willingness to drive but cannot afford a large down payment.

VinFast Philippines and Green GSM are trying to lower that initial cost through Rentapasada, an electric vehicle rental program for aspiring transport network vehicle service drivers.

Applicants can enter the program with a P5,000 registration payment, while the remaining deposit and TNVS registration fees are deducted gradually from their daily earnings.

The arrangement turns the vehicle from a major upfront purchase into a regular business expense. It also gives drivers the option to buy the EV later based on its residual value.

This makes the program relevant in a country where very small businesses remain a major source of livelihood.

Philippine Statistics Authority data for 2023 showed that micro, small and medium enterprises accounted for 99.63 percent of registered businesses and nearly 67 percent of employment.

A sari-sari store or carinderia can start with limited stock, but ride-hailing normally requires hundreds of thousands of pesos before the first passenger gets in. Vehicle financing may also require income documents and other records that first-time operators do not always have.

Ride-hailing appeals to workers because drivers can earn on the road rather than wait for a shop to build a customer base.

The usual operator arrangement, however, can come with a daily boundary or revenue cut. Drivers may spend the early part of their shift covering that amount before they take money home.

Rentapasada uses fixed daily rental rates instead. The Herio Green costs P1,050 per day, while the seven-seat Limo Green carries a P1,350 daily charge. Contracts run for five years and may be extended for another three.

Drivers keep 90 percent of their ride earnings during the first year under the program’s revenue-sharing arrangement.

Their share becomes 85 percent in the second and third years. These percentages sit alongside the fixed rental charge and the other deductions tied to registration and the deposit.

The electric vehicles also remove gasoline from the driver’s daily expenses, although charging remains part of the operating cost. VinFast estimates that a full-time Herio Green driver who covers 3,500 kilometers a month would spend about P5,600 on electricity at standard residential rates.

A gasoline crossover that travels the same distance would consume an estimated 238 liters and cost about P15,500 a month to fuel. Based on those assumptions, the difference could exceed P237,000 over two years.

The Limo Green shows a smaller but still notable gap in VinFast’s comparison. Its estimated two-year total cost of ownership is P1.37 million, compared with P1.53 million for a gasoline-powered MPV. The difference comes to more than P162,000.

EVs may also avoid number-coding restrictions in cities where local rules grant the exemption. This can give a driver another possible working day each week, although actual income will still depend on bookings, time on the road and charging access.

The low registration payment does not remove every cost or risk from the business. Applicants still face a long contract, daily rental charges and deductions from earnings.

Anyone interested in the program should review the full payment schedule and the vehicle’s eventual purchase price before signing.

Rentapasada gives aspiring drivers another way to enter the TNVS sector without first buying a car through conventional financing.