Billionaire Pham Nhat Vuong Initiates Venture to Support VinFast’s Electric Vehicle Expansion
Pham Nhat Vuong, the visionary behind Vietnamese electric vehicle manufacturer VinFast, unveiled V-Green, an EV charging stations company, on Monday. With Vuong holding a commanding 90% stake, V-Green will serve as a pivotal global partner, leading the development of an extensive charging infrastructure network.
In a statement, Vuong emphasized V-Green’s role in proactively seeking land and partnerships to establish and expand charging networks in VinFast’s key markets worldwide. This strategic initiative aligns with VinFast’s ambitious plans to expand its presence to at least 50 countries by 2024.
In Vietnam, V-Green will oversee the operation and management of VinFast’s existing charging network, with future plans to extend services to other EV manufacturers after five years. A substantial investment of approximately $404 million over the next two years underscores V-Green’s commitment to rapidly expanding and upgrading charging facilities.
Vuong’s establishment of V-Green follows his successful launch of Green SM, an EV taxi operator that significantly contributed to VinFast’s sales in 2023. This latest endeavor underscores Vuong’s commitment to driving sustainable transportation solutions and solidifies VinFast’s position as a frontrunner in the global electric vehicle market.
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