- VinFast founder launches V-Green to build a $404 million EV charging network.
- The new venture plans to develop and operate charging infrastructure across key markets.
- V-Green aims to enable VinFast’s rapid growth and seamless customer experience.
Pham Nhat Vuong, the founder of Vietnamese electric vehicle maker VinFast, has launched a new venture called V-Green to focus on developing and deploying an extensive EV charging station network.
This strategic move aims to prioritize supporting VinFast vehicles and their growing customer base.
Dedicated charging network to expansion
V-Green plans to invest nearly $404 million over the next two years to build new charging stations, upgrade and complete VinFast’s existing infrastructure, and oversee the operations and management of the charging network.
Vuong, who is also the Vietnamese billionaire behind local conglomerate Vingroup, holds a 90% stake in V-Green, which was spun off from VinFast’s charging station development division.
Leveraging charging ecosystem
The decision to create a dedicated charging company “reduces VinFast’s infrastructure investment needs and provides maximum support for the EV manufacturer’s rapid development,” said Nguyen Duc Thanh, CEO of V-Green.
The company intends to secure land and partners to expand its charging network in VinFast’s key markets, including the US, Canada, and Europe, while also seeking lower-cost funding to fuel VinFast’s global expansion, which targets 50 countries by 2024.
To read the original article: https://www.techinasia.com/vinfast-founder-rolls-ev-charging-stations-firm-invest-404m
