Grab Philippines has launched the Eco-Drive Initiative, bringing together major banks and global automakers to accelerate electric and hybrid vehicle adoption among TNVS drivers.
Billed as Southeast Asia’s largest EV financing coalition for ride-hailing, the program addresses two key pressures on drivers: rising fuel costs and the need to replace aging vehicles.
Through partnerships with BDO and BPI, drivers gain access to preferential “green” auto loans, simplified applications, and flexible repayment options. Automotive partners—including Toyota, BYD, GAC, Dongfeng, and others—are offering exclusive discounts on EV and hybrid models.
Eco-Drive also introduces a data-driven approach to financing, allowing banks to consider driver earnings, tenure, and ratings—helping bridge long-standing credit access gaps in the gig economy.
To better match driver cash flow, Grab enables daily loan repayments via the Grab Driver Wallet, offering an alternative to traditional monthly amortization.
By integrating financing, vehicle access, and repayment into one platform, Eco-Drive creates a scalable pathway for fleet electrification in the Philippines.
Advocacy
Eco-Drive Aligns Private Sector with PH EV Push Under EVIDA
Eco-Drive supports the Philippines’ transport electrification goals under the Electric Vehicle Industry Development Act (EVIDA), advancing efforts to reduce fuel dependence and transport emissions.
By targeting TNVS drivers, the initiative taps a high-impact segment for EV adoption while increasing public exposure to electric mobility through everyday rides.
The coalition model—linking financing, vehicle supply, and platform data—addresses key adoption barriers and enables scale. Its use of alternative data for credit assessment also expands financial inclusion for drivers traditionally underserved by banks.
Grab said it will continue working with agencies such as the LTFRB, DOTr, and DOE to align the program with national transport modernization efforts.