VinFast creates a dedicated global EV charger company called V-Green

19 March 2024

VinFast, the Vietnamese EV maker owned by Vingroup Corporation, has announced its decision to create a new company today. It's called V-Green and it's all about EV chargers. It's majority-owned by Mr. Pham Nhat Vuong, Vingroup's Chairman and the founder of VinFast.

According to the official press release, V-Green aims to invest "in the development of a comprehensive charging infrastructure system that prioritizes supporting VinFast vehicles". V-Green has been spun off from VinFast's charging station development division.

It will operate globally, "spearheading the creation of a comprehensive charging network". It will solely focus on infrastructure investment independently from VinFast. In its initial phase of operation, 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".

After about five years of operation, V-Green "may consider" opening up its chargers to other EV makers in addition to VinFast. To achieve its goals, V-Green will seek "better access to and mobilize capital with preferential interest rates", capital which will "fuel VinFast's rapid expansion into international markets". Speaking of which, VinFast plans to be in at least 50 markets across the world in 2024, including the US, Canada, countries in Europe, India, Indonesia, Thailand, the Philippines, Oman, Nigeria, and Ghana.