V-Green's mission is twofold: investing in the development of a comprehensive charging infrastructure system that prioritizes supporting VinFast vehicles, and propelling Vietnam towards becoming one of the world's leaders in electric vehicle charging station density.
Spun off from VinFast's charging station development division, V-Green, majority-owned by Mr. Pham with a 90% stake, will operate as a global partner, spearheading the creation of a comprehensive charging network. This strategic move will allow V-Green to focus solely on infrastructure investment independently from VinFast, and enable the Vietnamese electric manufacturer to prioritize market expansion and sustainable development.
To achieve its goal of developing a green ecosystem and contributing to the electric vehicle transition, V-Green will seek better access to and mobilize capital with preferential interest rates. This capital will fuel VinFast's rapid expansion into international markets.
In the initial phase, V-Green will directly search for land and partners to establish and expand its charging network in key markets around the world. It will also cooperate with other charging companies to provide charging services to VinFast electric vehicle owners.
In Vietnam, V-Green will be responsible for operating and managing VinFast's existing charging network. V-Green will additionally invest 10 trillion VND (approximately $404 million) over the next two years to build new stations, upgrade and complete its existing network. With this threefold increase in infrastructure investment compared to VinFast's initial plan, V-Green aims to establish charging stations nationwide and make Vietnam one of the world's leading countries in charging infrastructure for electric vehicles.
After about five years of operation, depending on each market and actual fundraising capacity, V-Green may consider expanding charging services to other EV manufacturers in addition to VinFast.
Mr. Nguyen Duc Thanh, CEO of V-Green, stated: "The decision by VinFast's Founder to establish V-Green is a strategic step to globally support and promote VinFast's sustainable development. Chairman Pham Nhat Vuong's willingness to use his personal assets to support V-Green demonstrates this commitment. It reduces VinFast's infrastructure investment needs and provides maximum support for the EV manufacturer's rapid development. This affirms a strong determination to promote green transportation in Vietnam and worldwide."
As previously announced, VinFast will expand to at least 50 countries around the world in 2024. In addition to key markets like the US, Canada, and Europe, VinFast is expanding fast into neighboring Asian countries such as India, Indonesia, Thailand, and the Philippines. The company is also entering new markets in the Middle East and Africa, with Oman, Nigeria and Ghana being the first ones.
In addition to Vietnam, VinFast is currently building electric vehicle manufacturing plants in the US and India. The company also plans to establish a factory in Indonesia.
Hashtag: #VinFast
The issuer is solely responsible for the content of this announcement.
Mining is one of the most physically demanding industries in Australia, and it's also one of the most heavily regulated when it comes to worker safety. A single inciden…
Choosing a caravan is a decision that can shape the way you travel for years to come. The number of options available from caravan dealers makes choosing the right layo…
Disagreements between landlords and tenants can develop gradually, sometimes starting with a single unresolved question about money or an obligation described ambiguously…
Older homes have a certain charm that newer builds often struggle to copy. The proportions feel different, the details have more character, and there’s usually a sense …
Trees are one of Australia's greatest natural assets. They provide shade during scorching summers, improve air quality, create habitats for wildlife and add significant v…
Commercial flooring does much more than provide a surface to walk on. In busy workplaces, the right flooring contributes to safety, hygiene, durability, and the overall…
Modern skincare is no longer limited to basic facials and over-the-counter creams. Today, more people are turning to professional treatments to improve skin texture, redu…
Homeowners are on the lookout for effective ways to manage their monthly expenses because prices are rising across the board. With a particular focus on power bills, many…
In clinical settings, surgical supply partners aren’t just vendors. They sit quietly behind the scenes of operating lists, specialist consultations, treatment rooms and recovery workflows. When they...
The early developmental years of a child's life represent a critical window for neurological growth, behavioural shaping, and language acquisition. During this formative phase, the ability to interpre...
Finding the right family dentist in Sydney is one of the most important health decisions you can make for your household. With hundreds of practices spread across the city — from Beecroft to Bondi, Pa...
Hashtag.net.au
