Pham Nhat Vuong, the chairman of Vingroup JSC conglomerate and the visionary behind VINFAST, has recently launched V-Green Global Charging Station Development Company.
V-Green’s primary objective is to invest in building a robust charging infrastructure, providing crucial support to VinFast’s global expansion efforts and positioning Vietnam as a frontrunner in electric vehicle charging station density worldwide.
With Vuong holding a majority stake of 90%, V-Green will serve as a global partner, leading the charge in establishing a comprehensive charging network.
This strategic move allows V-Green to focus solely on infrastructure investment, freeing VinFast to concentrate on market expansion and sustainable growth.
In line with its commitment to fostering a green ecosystem and driving the electric vehicle transition, V-Green aims to secure capital with favorable interest rates, fueling VinFast’s rapid international expansion.
Initially, V-Green will actively seek land and partnerships to establish and expand its charging network in key global markets. It will also collaborate with other charging companies to provide services to VinFast electric vehicle owners.
In Vietnam, V-Green will manage VinFast’s existing charging network and invest VND10 trillion (US$404 million) over the next two years to enhance the infrastructure.
According to Nguyen Duc Thanh, CEO of V-Green, the establishment of V-Green by VinFast’s founder is a strategic move aimed at globally supporting and advancing VinFast’s sustainable development.
VinFast is poised to extend its operations to over 50 countries by 2024, including key markets like the US, Canada, Europe, as well as expanding into neighboring Asian countries such as India, Indonesia, Thailand, and the Philippines, along with ventures into the Middle East and Africa.
