Pham Nhat Vuong, who is the wealthiest man in Vietnam, has established GSM, an electric taxi company that hopes to speed up the creation of Vietnam’s green ecosystem.
The company has a charter capital of VND 3 trillion (USD 126.85 million) and plans to start operations in Hanoi by April this year, with plans to expand nationwide by the end of the year.
GSM, which stands for “Green, Smart and Mobility”, expects to have 100,000 cars and 100,000 motorbikes all made by VinFast, a unit of Vingroup, in circulation.
The company also plans to rent out VinFast’s VF e34 and VF 8 electric cars to transport companies.
Vuong, who is the Chairman of Vingroup and the CEO of GSM, holds a 95 percent stake in GSM.
Last year, VinFast delivered 7,200 cars to Vietnamese customers, with two of its models (the VF e34 and VF 8) among the top 10 best-selling models in Vietnam, according to VN Express.
VinFast delivered its first electric car to US customers on 2 March.
