Vinfast parent steps into rental and taxi services

VinGroup, the owner of the Vietnamese EV brand Vinfast, has kickstarted a new subsidiary focusing on renting electric cars and e-scooters and offering taxi services. Giving its own twist to the hype of mobility users, the holding claims it will be the first multi-platform green transport rental and taxi service.

VinGroup Chairman Pham Nhat Vuong announced the news. His new company, called Green and Smart Mobility Joint Stock Company (GSM), will offer Vinfast cars to professional taxi operators, both traditional and online. Still, it also reaches out directly to individuals through its own taxi service. Customers can also choose short-term rentals.

International expansion?

Many Asian brands, like Lynk & Co or Nio, are promoting alternatives to ownership to establish their brand and to accelerate EV adoption and multimodality in mobility. VinGroup opts for a small start. As of next month, the new service is only offered in its home country, while neither the press release nor Vuong mentions anything about international expansion. The city of Hanoi is the logical starting point for the business to expand nationwide.

GSM received an investment of $125,7 million (€118,5 million) from Vuong, who owns 95% of the shares in the new company, and will deploy 10 000 electric cars from Vinfast and 100 000 scooters, the latter still a preferred means of transport in Vietnam. GSM hasn’t listed the available vehicle badges but pictured the VF8 in its press release, a compact crossover with the size of an Audi Q5.

From healthcare to golf courses

As vehicle ownership is less common in Vietnam and electrified transport more expensive, GSM hopes to gradually install a habit of smart and green mobility among the Vietnamese population. Chairman of GSM Nguyen van Thanh said that their service provides “people with more options to use electric vehicles at reasonable pricing” and that “customers will have the opportunity to experience the smart features and convenience of electric vehicles.”

The internationally most acclaimed company VinGroup established is Vinfast, a manufacturer of premium electric vehicles with an edge on the Chinese competition as the brand is imported in  Europe and the United States. The conglomerate company is also active in software development, real estate, health care, solutions in artificial intelligence, and even… golf courses.