Rental model seen as the go-to-market strategy to boost Vietnam’s EV take-up

[HANOI] Vietnam’s richest man Pham Nhat Vuong has established a three trillion dong (S$171 million) electric-vehicle (EV) rental and taxi company, with plans to use 10,000 electric cars and 100,000 electric motorbikes provided by VinFast, the automobile arm of his Vingroup.

The setting up of the company – called GSM Green and Smart Mobility JSC – was announced on Monday (Mar 6), and comes six months after the rollout of 150 VinFast electric motorbikes in the central city of Da Nang by logistics firm AhaMove.

AhaMove hopes to rent some 1,500 EVs this year to transform part of its 120,000-strong fleet of vehicles across the country, said the company’s co-founder and chief executive Pham Huu Ngon.