Modern Australian

VinFast Founder launches Global EV Charging Stations Company V-Green

HANOI, VIETNAM - Media OutReach Newswire - 18 March 2024 - In Hanoi, Vietnam, March 18th - Mr. Pham Nhat Vuong, Chairman of Vingroup Corporation and founder of VinFast, announced the establishment of V-Green Global Charging Station Development Company (V-Green).

V-Green's mission is twofold: investing in the development of a comprehensive charging infrastructure system that prioritizes supporting VinFast vehicles, and propelling Vietnam towards becoming one of the world's leaders in electric vehicle charging station density.

image-1.jpeg

Spun off from VinFast's charging station development division, V-Green, majority-owned by Mr. Pham with a 90% stake, will operate as a global partner, spearheading the creation of a comprehensive charging network. 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.

To achieve its goal of developing a green ecosystem and contributing to the electric vehicle transition, V-Green will seek better access to and mobilize capital with preferential interest rates. This capital will fuel VinFast's rapid expansion into international markets.

In the initial phase, 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.

In Vietnam, V-Green will be responsible for operating and managing VinFast's existing charging network. V-Green will additionally invest 10 trillion VND (approximately $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 establish charging stations nationwide and make Vietnam one of the world's leading countries in charging infrastructure for electric vehicles.

After about five years of operation, depending on each market and actual fundraising capacity, V-Green may consider expanding charging services to other EV manufacturers in addition to VinFast.

Mr. Nguyen Duc Thanh, CEO of V-Green, stated: "The decision by VinFast's Founder to establish V-Green is a strategic step to globally support and promote VinFast's sustainable development. Chairman Pham Nhat Vuong's willingness to use his personal assets to support V-Green demonstrates this commitment. It reduces VinFast's infrastructure investment needs and provides maximum support for the EV manufacturer's rapid development. This affirms a strong determination to promote green transportation in Vietnam and worldwide."

As previously announced, VinFast will expand to at least 50 countries around the world in 2024. In addition to key markets like the US, Canada, and Europe, VinFast is expanding fast into neighboring Asian countries such as India, Indonesia, Thailand, and the Philippines. The company is also entering new markets in the Middle East and Africa, with Oman, Nigeria and Ghana being the first ones.

In addition to Vietnam, VinFast is currently building electric vehicle manufacturing plants in the US and India. The company also plans to establish a factory in Indonesia.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

Tips for Managing Business Funds in High-Interest Accounts

For entrepreneurs, astute fund management extends beyond survival alone—it fuels expansion and ensures ongoing viability. A shrewd tactic involves...

Understanding Regulations and Requirements for Building a Granny Flat

Constructing a granny flat entails understanding and complying with regulations that may differ depending on the area you're, in Here is a breakdown...

Top-Rated Criminal Lawyers in Brisbane: Securing Legal Defence and Justice

Navigating the legal landscape, particularly in criminal defence, is an intricate journey that demands experience, expertise, and a deep commitment ...

Innovative Solar Conduit Solutions: Why Solarflex Stands Out

When it comes to solar installations, efficiency, safety, and regulatory compliance are essential — particularly when tight schedules and diverse en...

Loaded Potato Snacks: Perfectly Crispy French Fries and Air-Fried Hash Browns

Are you craving a crunchy, flavorful potato snack that goes beyond the usual French fries? Let me introduce you to two of my favorite recipes: Loade...

Bulk Liquid Storage Tanks: Essential Solutions for Modern Industry

In industries where managing large quantities of liquids is a daily requirement, bulk liquid storage tanks play a vital role. These tanks are desi...

Bistro Blinds for Seasonal Changes: Adapting Your Outdoor Space

Bistro blinds are outdoor designs that can be adapted for seasonal changes. They warm up the environment by making it wind-free, wet-free, and sun...

Advantages of Using Digital Printing Services

The demand for quick, efficient, and high-quality printing solutions has seen remarkable growth in our modern, fast-paced world. This increasing nee...

Benefits of Professional Strata Management

Navigating the complexities of strata management can be a daunting endeavor for any strata property owner or committee member. Strata management inv...

The Hidden Benefits of Bundling Utilities with Moving Services

Moving can feel overwhelming with so many things to juggle. Hiring a moving company in Brisbane helps make it easier, but did you know you can make it...

Family Mediation: The Path to Resolution, Healing, and Lasting Solutions

In an era where family challenges are often met with emotional and financial strain, family mediation has quietly gained traction as a life-changing...

Surprise Party Ideas That Will Leave Your Guests Speechless

Throwing a surprise party is one of the most exciting ways to celebrate a special occasion. The thrill of keeping it a secret combined with the joy ...

“North of the River” Vs “Over the Bridge” – What’s in Brisbane’s ongoing North Vs South Feuds?

Greater Brisbane Australia’s largest capital city by land area, coming in at 15,824 square kilometers, and ranks number three worldwide. It has Au...

Income Stream Integration: 7 Ways to Earn Money Through Your Website

Whether you sell Vietnamese coffee, review Japanese gadgets, or rent Melbourne self storage, your website is more than just an online presence—it...

Top 10 Benefits of Practicing Taekwondo for All Ages

Taekwondo is more than just a martial art; it’s a way of life that offers profound physical, mental, and emotional benefits. Whether you're a chil...

Plasterboarding and Ceiling Repair: The PlasterX Advantage for Long-Lasting Results

Contacting professionals who are well-versed in the nuances of the task is essential to preventing headaches during plastering ceiling repair work. ...

Snake Catcher’s Life-Saving Advice: What to Do When You Encounter a Snake

Australia is home to some of the most venomous snakes in the world, and if you live here, you're already well aware of how dangerous these creatures...

The Best Dumplings in Melbourne

Melbourne offers the best dumplings in the world, with variety of tastes and styles. The perfect dumpling is boiled, fried, or steamed - the best ...