VinFast Founder Unveils V-Green EV Charging Venture: Report

Pham Nhat Vuong, the founder of Vietnamese electric vehicle maker VinFast Auto Ltd VFS, reportedly ventured into EV charging stations with the launch of V-Green, emphasizing support for VinFast vehicles globally.

V-Green’s mission includes seeking land and partnerships to bolster charging infrastructure in VinFast’s key markets, according to a report from Reuters.

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Holding a 90% stake, Vuong positions V-Green as a pivotal player in establishing a charging network worldwide, the report added.

With VinFast eyeing expansion to 50 countries by 2024, V-Green’s role becomes integral in facilitating growth and accessibility.

V-Green’s responsibilities extend to managing VinFast’s existing charging network in Vietnam, with plans for potential expansion to other EV manufacturers after five years of operation.

The report further noted that an investment of approximately $404 million over the next two years underscores the commitment to scaling up and enhancing charging infrastructure.

Vuong’s previous venture, EV taxi operator Green SM, played a significant role, contributing 72% to VinFast’s sales in 2023.

Price Action: VFS shares are trading higher by 0.80% at $5.06 in premarket on the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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