TessDrive brings you the latest developments across executive distribution networks, international automotive financial milestones, and AI-driven smart mobility debuts shaping the automotive industry.
Vingroup contributes record VND 150 trillion to State budget
Vingroup set a historical fiscal record in Vietnam by contributing nearly VND 150 trillion (VND 148.773 trillion, equivalent to over P356 billion) to the State budget in 2025. Published in a newly released ranking by CafeF, the achievement marks the first time a private-sector enterprise in Vietnam has exceeded VND 100 trillion in annual state contributions, up 165% from VND 56.2 trillion in 2024 and averaging over VND 407 billion per day.
The group’s performance carried strong momentum into the first half of 2026, with consolidated net revenue climbing 72.5% year-on-year to VND 222.3 trillion and consolidated profit after tax expanding 4.5 times to VND 20.375 trillion. Within its industrials and technology pillar, VinFast maintained its position as Vietnam’s top electric vehicle (EV) manufacturer, delivering 115,916 BEVs domestically (+72% YoY) and 128,662 BEVs globally (+78% YoY) in H1 2026. VinFast’s electric motorcycle division delivered 429,175 units—a 3.7-fold increase year-on-year—supported by an expanding international retail network of 474 showrooms.
Within real estate and tourism, Vinhomes posted equivalent revenue of VND 134.2 trillion in H1 2026, while Vinpearl broadened its integrated hospitality portfolio. Through the Thien Tam Fund, Vingroup has disbursed VND 35 trillion to date for community healthcare, disaster relief, and social welfare programs, while recently committing an additional VND 11 trillion to social initiatives.
XPeng introduces AI mobility vision to the Philippines
Global AI and smart mobility pioneer XPeng confirmed it will formally enter the Philippine market this month through its direct subsidiary XPeng Philippines. Moving beyond conventional EV comparisons, the company is introducing its dedicated “AI Mobility” framework—anchored on the philosophy that modern mobility is defined by how intelligently vehicles understand and adapt to human drivers.
XPeng will launch with two foundational smart electric models:
XPeng X9: A flagship intelligent 7-seater designed for executive transport, business leaders, and modern families, integrating advanced AI connectivity and luxury appointments.
XPeng L03: A sporty, software-defined intelligent SUV coupe built for contemporary professionals seeking intuitive digital mobility.
With over 40% of its global workforce (8,845 personnel as of late 2025) dedicated to research and development (R&D), XPeng develops full-stack driver-assistance systems, in-car operating software, and powertrain architectures entirely in-house. The broader XPeng Physical AI ecosystem encompasses the IRON humanoid robot (set to be deployed as a retail showroom assistant), Aridge aerial mobility technologies (including the Land Aircraft Carrier with detachable electric aircraft), and AI-automated smart manufacturing facilities.
XPeng general manager for Southeast Asia Sam Chu stated: “XPeng’s arrival in the Philippines is not simply about introducing another EV brand. We want to help establish AI mobility as a category in its own right and show Filipino motorists how artificial intelligence can make every journey safer, more intuitive, and more responsive to their needs. The X9 and L03 represent two distinct expressions of that vision, but both are founded on the same belief: The next generation of mobility will be defined not only by how vehicles are powered, but by how intelligently they serve the people who use them.”
Follow launch announcements via @xpengphilippines on Facebook and Instagram, or visit xpeng.com.
Inchcape PH and Changan announce distribution transition
Inchcape Philippines and Changan mutually agreed not to renew their distribution partnership in the Philippines as Changan advances its long-term corporate roadmap for the domestic market.
The partnership entered an active transition period running through the fourth quarter of 2026. Inchcape confirmed that all existing customer commitments—including warranty coverage, after-sales service, and spare parts supply—remain fully valid and operational across the dealer network throughout the transition.
Inchcape managing director for south Asia and Pacific Alex Hammett noted: “Since 2023, Inchcape Philippines and Changan have worked together to build the Changan brand in the Philippines, supported by Inchcape’s local expertise, distribution capabilities and dealer network. We are committed to supporting our customers, colleagues, dealers and business partners through this transition, and I would like to thank our team at Inchcape Philippines and our dealer partners for their valuable contribution to building and supporting the Changan brand in the Philippines over the past three years.
“The Philippines remains an important market for Inchcape, with the company continuing to distribute Mercedes-Benz passenger cars, trucks and buses, as well as Jaguar Land Rover, and operating the retail business of Harley-Davidson. Inchcape’s focus is on continuing to grow our existing portfolio and bringing new products to our customers in the Philippines.”
Inchcape continues to operate its local retail portfolio alongside its Manila-based digital delivery center and global business services hubs, which employ over 700 personnel supporting global operations.