VinFast affiliate to jointly invest US$300 million in EV charging facilities in Indonesia
It aims to roll out 63,000 charging ports and 50,000 stations across the country in 2025
[HANOI] Vietnamese electric vehicle (EV) charging station developer V-Green announced on Friday (May 9) that it will co-invest a total of US$300 million with four partners to deploy charging facilities exclusively for VinFast EVs in Indonesia.
Indonesian vehicle distributor Amarta Group, Vietnamese multiservice EV charging station developer ChargePoint and construction firm CVS have each committed to distributing charging ports and investing about US$5.3 million annually. In addition, Chinese EV charger developer Chargecore plans to invest a minimum of US$30 million in 2025 alone.
By the end of this year, they aim to roll out about 63,000 charging ports and 50,000 stations in the archipelago, with the first new facilities set to go online in June. Among these, V-Green has already operated 1,000 stations, where VinFast owners in Indonesia can charge their vehicles for free starting in May.
V-Green, of which VinFast founder and chief executive Pham Nhat Vuong owns a 90 per cent stake, plans to directly invest in one-fifth of the planned stations.
The remaining 80 per cent will be implemented through business cooperation contracts – a model in which the affiliate of VinFast partners local businesses to jointly develop charging facilities. V-Green will then offer investors terms such as a fixed power purchase rate and a guaranteed return during the first three years.
In January, Taiwanese green energy company eTreego became one of the charging station product suppliers and location partners for V-Green.
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They aimed to install 100,000 franchised charging ports for VinFast in three key South-east Asian markets of Indonesia, the Philippines and Vietnam by 2030.
Last December, the Vietnamese company announced its collaboration with United Arab Emirates-based Prime Group’s subsidiary to develop about 100,000 VinFast charging stations in Indonesia over the following three years, with a projected total investment of up to US$1.2 billion.
“The rapid expansion of V-Green’s charging network will help meet increasing demand for VinFast EVs in the market, provide convenience to local consumers and contribute to global sustainable development goals,” V-Green noted.
Across Vietnam, the company operates about 150,000 charging ports that cater only to VinFast vehicle owners. It aims to grow the network to 500,000 ports in the next three years.
VinFast is moving its focus to Asian markets instead of North America and Europe, with two US$400 million factories in India and Indonesia slated to open in June and October, respectively.
Last month, Vuong said during a Hanoi shareholders’ meeting that parent Vingroup had no plans to expand sales in North America and Europe, citing high logistics costs as the main reason.
The Vietnamese EV maker also decided to delay the launch of its US$1.4 billion factory in North Carolina, US, by three years to 2028.
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