Pham Nhat Vuong, a Vietnamese entrepreneur who runs one of the country’s largest EV makers, VinFast, launched V-Green, a new company that will deal with EV charging stations. As the major shareholder for Vuong holding 9Q stake in V-Green, it is his intent to promote VinFast vehicles worldwide in addition to the charging network infrastructure expansion.
Vision for V-Green
V-Green, positioned as a global partner, is intended to build a global charging network that will serve VinFast’s EVs in the markets of potential customers in different parts of the world. Yes, Vuong underlined the dedication to getting territories and alliances for the locating of the charging stations as well as being in line with VinFast’s plans for drastic expansion during 2024 (as planned) among at least 50 countries.
Expansion strategy
V-Green, which is based in Vietnam, is going to control every VinFast network charging in the country. In the meanwhile, it plans to evaluate the opportunity of widening charging services to all other EV manufacturers in the five years operation of the station, showing a broad picture of industry cooperation.
Investment commitment
V-Green aims to make an investment of $404 million in the nearest two years and will use the money to expand the charging stations’ network and upgrade the existing infrastructure. Vuong’s choice of this sizable investment can be interpreted as dedication to drive EV popularity growth and make charging stations accessible for as many people as possible.
Integration with VinFast’s ecosystem
V-Green is one of the cornerstones of Vuong’s initiative that includes Green SM, a taxi EV Company that was a major contributor to VinFast’s sales results in 2023. This is the key characteristic that the given strategy clearly shows that Vuong covers not only the production part but the whole vehicle value chain that comprises manufacturing, charging infrastructure and mobility solutions.
Driving sustainability and innovation
In Vuong’s initiatives, these actions highlight the increasing popularity of Vietnam in the world EV scene and this commitment points to the clear intentions of the Vietnamese in keeping pace with sustainable and innovative technologies. V-Green wants to achieve the transitions from gas-vehicles into electric mobility through developing EV charging infrastructure while encouraging the new set of technologies.
Future outlook
A V-Green being on the mission of expanding the EV charging network, its success will not only will benefit VinFast but also contribute in to greater spread of electric vehicles. In tandem with Vuong’s direction and the huge sum of money which has been injected into the V-Green Company V-Green is looking forward to take a crucial role in upcoming innovations geared towards a greener environment.