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1.2-billion-USD MoU signed to build VinFast charging stations in Indonesia

V-GREEN, a private firm owned by billionaire Pham Nhat Vuong, and Prime Group, a multi-sector conglomerate, on December 11 announced a memorandum of understanding (MoU) to develop a network of charging stations for VinFast electric vehicles (EVs) in Indonesia, with a projected total investment of up to 1.2 billion USD.

CEO of V-GREEN Nguyen Thanh Duong (second from left) and Mahmoud Farrag, Vice Chairman and CEO of Prime Group,(third from left) at the MOU signing ceremony. (Photo: V-GREEN)
CEO of V-GREEN Nguyen Thanh Duong (second from left) and Mahmoud Farrag, Vice Chairman and CEO of Prime Group,(third from left) at the MOU signing ceremony. (Photo: V-GREEN)

Hanoi (VNA) - V-GREEN, a private firm owned by billionaire Pham Nhat Vuong, and Prime Group, a multi-sector conglomerate, on December 11 announced a memorandum of understanding (MoU) to develop a network of charging stations for VinFast electric vehicles (EVs) in Indonesia, with a projected total investment of up to 1.2 billion USD.

This MoU not only marks a major step forward for V-GREEN in its global mission to expand the VinFast EV charging infrastructure, but also underscores the confidence of prominent international companies in V-GREEN and VinFast’s commitment to sustainable transportation.

It also reflects the mutual intent of both parties to engage in detailed discussions to explore and develop cooperation in building charging stations in Indonesia. The two companies envision the development of approximately 100,000 VinFast charging stations in the country over the next three years.

V-GREEN will initially prioritise the development of charging stations in Jakarta, Surabaya, Bali, and surrounding areas, with plans to expand to other regions of Indonesia in subsequent phases. The installation of the charging stations will commence in January 2025, with some expected to be operational within the year.

Tamer Wagih Salem, Chairman of Prime Group, said that this collaboration, fueled by V-GREEN’s strong reputation and execution capabilities, will not only benefit both companies but also significantly contribute to the growth of Southeast Asia’s EV market.

V-GREEN was founded by Vuong, founder of EV maker VinFast, with a 90% stake. Separated from VinFast’s charging station development department, V-GREEN is dedicated to investing in the entire electric vehicle infrastructure. This aligns 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 VinFast’s global expansion. By developing a robust charging infrastructure, V-GREEN is paving the way for the Vietnamese EV maker to successfully enter the dynamic Indonesian market./.

VNA
#V-GREEN #Prime Group #VinFast #1.2 billion USD #Indonesia #electric vehicle Indonesia
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