V-Green and Prime Group sign agreement to develop 100,000 VinFast EV charging stations in Indonesia

V-GREEN and Prime Group, a diversified conglomerate, through its subsidiary in the UAE, have signed a Memorandum of Understanding (MoU) to develop a network of VinFast electric vehicle charging stations in Indonesia. This MoU not only represents a major step forward for V-GREEN in its global mission to expand VinFast electric vehicle charging infrastructure, but also underlines the confidence of leading international companies in V-GREEN and VinFast’s commitment to transportation. sustainable.

This MoU reflects the mutual intention of both parties to engage in detailed discussions to explore and develop cooperation in the construction of charging stations in Indonesia. The two companies plan to develop approximately 100,000 VinFast charging stations in Indonesia over the next three years, with a total planned investment of up to $1.2 billion.

Initially, V-GREEN will prioritize the development of VinFast charging stations in Jakarta, Surabaya, Bali and surrounding areas, with plans to expand to other regions in Indonesia in later phases. With increasing electric vehicle adoption, these regions are a strategic focus for V-GREEN’s expansion into the Indonesian market, leveraging the diverse range of VinFast urban electric vehicles.

Development of the charging stations will begin in January 2025, with several of them expected to be operational within a year.

Leveraging its strong financial potential and global network of partners, Prime Group, a diversified conglomerate with operations in the Middle East and Africa, will be responsible for raising financing to develop the VinFast electric vehicle charging infrastructure.

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Meanwhile, V-GREEN will proactively research the market, identify strategic locations, and build and operate a network of charging stations to meet the growing demand of electric vehicle users in Indonesia.

Tamer Wagih Salem, President of Prime Group, said: “Leveraging our experience in various industries, we are proud to partner with V-GREEN to capitalize on the immense potential of Indonesia’s green transportation sector as one of the most promising markets in Southeast Asia. . We are confident that this collaboration, driven by V-GREEN’s strong reputation and execution capabilities, will not only benefit both companies but will also contribute significantly to the growth of the Southeast Asian electric vehicle market. This partnership with V-GREEN will see us explore more opportunities on a global scale, starting with Indonesia and then expanding to the Middle East, Europe, the United Kingdom and the United States. “Together, we will create exceptional value for society and the global community.”

Mr. Nguyen Thanh Duong, CEO of V-GREEN shared: “Partnering with a strategic partner from the Middle East opens up new and exciting opportunities for V-GREEN to expand its global electric vehicle charging network. Together, we will create a comprehensive electric vehicle ecosystem that will reduce environmental impact and improve quality of life. “This collaboration will bring important benefits to both our companies, consumers and the community.”

Initially, V-GREEN will prioritize the development of VinFast charging stations in Jakarta, Surabaya, Bali and surrounding areas

V-GREEN was founded by VinFasts founder Mr. Pham Nhat Vuong with a 90% stake. Separate from VinFasts charging station development department, V-GREEN is dedicated to investing in the entire vehicle infrastructure electrical. This is in line with the company’s mission to foster a green ecosystem and accelerate the electric transportation revolution.

The MoU with Prime Group marks a pivotal moment for V-GREEN as a key partner in VinFasts’ global expansion. By developing a robust charging infrastructure, V-GREEN is paving the way for VinFast to successfully penetrate the dynamic Indonesian market.

Since its official launch in Indonesia, VinFast has delivered two EV models, the VF e34 and the VF 5. The company is actively expanding its dealer network, implementing attractive sales policies, and has laid the foundation stone of an assembly plant in Subang, West Java, to improve its overall production capacity.