Heaptalk, Jakarta — The Chairman of Vingroup Corporation and Founder of VinFast, Pham Nhat Vuong, announced the establishment of its charging station development venture (V-Green).
Spun off from VinFast’s charging station deployment division, this charging station venture will operate as a global partner, spearheading the creation of a comprehensive charging network. Nevertheless, 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.
In the initial phase, the venture will search for land and partners to establish and expand its charging in its key markets. In Vietnam, V-Green will operate and manage VinFast’s existing charging network and invest US$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 build charging stations nationwide and make Vietnam one of the leading countries in charging infrastructure for electric vehicles. Going Forward, this station will be augmented in its multiple markets at an appropriate time.
“Chairman Pham Nhat Vuong’s willingness to use his assets to support V-Green demonstrates this commitment. It reduces VinFast’s infrastructure investment needs and supports the EV manufacturer’s rapid development. This affirms a strong desire to promote green transportation worldwide in Vietnam,” said Nguyen Duc Thanh, CEO of V-Green.
As previously declared, VinFast will broaden to 50 countries worldwide this year. In addition to key markets like the US, Canada, and Europe, VinFast also broadens fast into neighboring Asian countries, such as India, Indonesia, Thailand, and the Philippines. The company also enters new markets in the Middle East and Africa, with Oman, Nigeria, and Ghana being the first ones.
Lately, VinFast’s global expansion has also been marked by its investment of US$1.2 billion to establish an electric vehicle factory in Indonesia. This EV manufacturer aims to pour its initial injection worth US$200 million for factory construction this year, scheduled to operate in 2026. After the construction, this new factory is expected to produce about 50,000 units annually.
