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Friday, March 24, 2023

Vingroup establishes EV rental business

The Saigon Times

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HCMC – Pham Nhat Vuong, chairman of Vietnamese conglomerate Vingroup, yesterday, March 6, announced the establishment of Green-Smart-Mobility JSC (GSM), which will use VinFast electric vehicles and scooters for rental and taxi services.

GMS is reportedly the world’s first multi-platform green transport rental and taxi service aiming to popularize electrified mobility while promoting a green lifestyle in the community.

The EV rental business has total charter capital of VND3 trillion, with chairman Pham Nhat Vuong holding a 95% stake, the local media reported.

GSM will operate in the two main sectors of EV rentals and e-taxi services.

The newly-founded firm will offer EV rental services to traditional taxi firms and tech-based ride-hailing service providers and their employees. Besides, GSM will operate its own taxi business using its electric cars.

In addition, Vietnam’s first pure electric taxi company, founded by GSM, will be put into operation next month in the capital city of Hanoi and expand its scale nationwide this year.

GSM will use all VinFast electric vehicles to offer the services, with around 10,000 cars and 100,000 scooters.

According to Nguyen Van Thanh, CEO of GSM JSC, the establishment of GSM is expected to further develop the green and smart mobility ecosystem in Vietnam, providing people with more options to use electric vehicles at reasonable prices.

GSM wants to promote the habit of using electric vehicles among locals by raising awareness about the convenience, intelligence and sustainability of EVs.

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