On Monday, VinFast, a Vietnamese manufacturer of electric vehicles, announced the creation of V-Green, an EV charging station company. The company would prioritize servicing VinFast vehicles worldwide.
According to a statement, V-Green, in which billionaire Pham Nhat Vuong owns 90% of the company, would function as a global partner. Additionally, it will lead the development of an extensive charging network.
“V-Green will directly search for land and partners to establish and expand its charging network in key markets of VinFast,” Vuong stated.
Vuong launched VinFast in 2017, and the company made its Nasdaq debut last year. Moreover, it has stated that it would reach at least 50 nations by 2024.
After five years of operation, V-Green will take over as the operator and manager of VinFast’s current charging network in Vietnam. Following that, the company plans to explore the possibility of extending its charging services to additional EV manufacturers.
According to him, it would invest roughly $404 million over the following two years in new outlets and network enhancements for charging.
72% of VinFast’s 2023 revenue came from Green SM, an EV taxi company that Vuong started last year.
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