On March 18, Vingroup’s Chairman and VinFast founder, Pham Nhat Vuong, announced the establishment of V-Green Global Charging Station Development Company (V-Green).
V-Green has two primary goals: to promote VinFast vehicles by investing in a comprehensive charging infrastructure system and to lead Vietnam in terms of electric vehicle charging station density.
Vuong stated that V-Green will directly search for land and partners to establish and expand its charging network in VinFast’s primary markets. After five years of operation, V-Green will take over as the operator and manager of VinFast’s current charging network in Vietnam. The company also plans to explore the possibility of extending its charging services to additional EV manufacturers.
Furthermore, Vuong mentioned that V-Green will invest approximately $404 million over the next two years in new outlets and network improvements for charging.
“Vuong’s decision to establish V-Green is a strategic step to support and promote VinFast’s sustainable development globally,” said Nguyen Duc Thanh, CEO of V-Green. “This dedication demonstrates Vuong’s readiness to spend his personal resources to assist V-Green. It also minimizes VinFast’s infrastructure investment requirements and offers optimal assistance for the swift advancement of the EV maker. This confirms a strong resolve to advance environmentally friendly transportation in Vietnam and globally.”
VinFast has announced its ambitious plans to expand to at least 50 countries by 2024, focusing on major markets such as the US, Canada, and Europe. The company is also expanding into neighboring Asian countries like Thailand, Indonesia, India, and the Philippines. Moreover, VinFast is venturing into new markets in Africa and the Middle East, starting with Oman, Nigeria, and Ghana.
