Vietnam’s richest man launches electric taxi firm

Pham Nhat Vuong, Vietnam’s richest man, has established GSM, an all-electric taxi operator with a charter capital of VND3 trillion ($126.85 million). Vuong, who is also the chairman of Vingroup, owns a 95% stake in the company.

GSM, which stands for “Green, Smart and Mobility,” will launch its taxi services starting in April in Hanoi, with plans to go nationwide by the end of the year.

The company will also rent Vinfast’s VF e34 and VF 8 electric cars to transport companies.

GSM expects to have 10,000 cars and 100,000 motorbikes, all made by VinFast, a unit of Vingroup.

The company was established to speed up the completion of Vietnam’s green ecosystem and smart transport, said GSM CEO Nguyen Van Thanh.

Customers can experience electric vehicles, whether for a few minutes in a taxi, or a few months in a rented car, which Thanh says will help speed up the green revolution in Vietnam.

Last year, VinFast delivered 7,200 electric cars to Vietnamese customers. And in December last year its two models, the VF e34 and VF 8, were among the top 10 best-selling models in Vietnam.

The company delivered its first electric cars to American customers on March 2.

Latest articles

Fashion
Levi’s unveils new Icon store at Palladium Mall Mumbai

Sign up for newsletters


Must read

Behind the Buzz
Retail News Asia — Your Daily Fix of What’s Happening in Asian Retail

We’re here to keep you in the loop—every single day. Whether you’re running a small local shop, scaling an online biz, or part of a global brand making moves in Asia, we’ve got something for you.

With 50+ fresh stories a week and 13.6 million readers, Retail News Asia isn’t just another news site—it’s the go-to source for all things retail across the region.
Retail Updates
Fresh updates. Real insights. Delivered daily or weekly—no spam, just retail gold.

Copyright © 2014 -2025 | Retail News Asia