Sign up for our popular daily email to catch all the latest EV news!
The founder of VinFast has introduced V-Green Global Charging Station Development Company (V-Green). Established in Hanoi, V-Green aims to lead the charge in developing a global network of EV charging stations, primarily to support VinFast vehicles. The initiative positions Vietnam on the path to becoming a leading nation in electric vehicle charging infrastructure.
Key Highlights:
- V-Green, a spin-off from VinFast, is focused on creating a comprehensive global charging network.
- Investment of 10 trillion VND to expand charging infrastructure in Vietnam.
- V-Green to explore international markets, initially supporting only VinFast EVs.
- Plans for future expansion to include other EV manufacturers after five years.
V-Green’s strategy involves a robust investment in charging infrastructure, earmarking 10 trillion VND (about $404 million) over the next two years to enhance the current network and establish new stations across Vietnam. This effort aims to triple the country’s charging infrastructure, signaling Vietnam’s ambition to become a global leader in this domain.
The company’s establishment stems from a strategic decision to independently focus on infrastructure development, allowing VinFast to concentrate on market expansion and sustainable growth. With an initial focus on supporting VinFast vehicles, V-Green plans to extend its services to other EV manufacturers in the future, contingent on market demands and fundraising capabilities.
Mr. Nguyen Duc Thanh, CEO of V-Green, highlighted the initiative as a testament to Mr. Pham’s commitment to promoting sustainable transportation, both locally and globally. This move not only underscores the importance of green transportation but also ensures VinFast’s rapid development and market penetration.
As part of its global strategy, VinFast is set to expand into over 50 countries by 2024, targeting key markets in the US, Canada, Europe, and Asia, alongside ventures into the Middle East and Africa. This expansion is supported by the construction of EV manufacturing plants in the US and India, with plans for a new facility in Indonesia, marking a significant step in VinFast’s ambition to become a prominent player in the global EV market.
Sign up for our popular daily email to catch all the latest EV news!
