V-GREEN and Prime Group have signed a memorandum of understanding to develop a network of charging stations for VinFast electric vehicles across Indonesia.
The deal represents a significant milestone for V-GREEN as it expands VinFast's global EV infrastructure, reflecting international confidence in the company’s commitment to sustainable transportation.
The agreement outlines both parties' intent to collaborate on the construction of approximately 100,000 VinFast charging stations in Indonesia over the next three years, with total investments reaching up to $1.2 billion. The initial focus will be on major cities like Jakarta, Surabaya, and Bali, with plans to expand into other regions in future phases.
Development is set to begin in January 2025, with several stations expected to be operational within the year. As the adoption of electric vehicles grows, V-GREEN’s strategic approach targets regions with high potential for EV use, leveraging VinFast's range of urban electric vehicles.
Prime Group, leveraging its strong financial backing and network across the Middle East and Africa, will be responsible for securing funding for the charging station infrastructure. V-GREEN, for its part, will focus on market research, site identification, and the building and operation of the network to meet rising demand.
“We are proud to partner with V-GREEN to tap into the immense potential of Indonesia’s green transportation sector,” said Tamer Wagih Salem, Chairman of Prime Group. “This collaboration, supported by V-GREEN’s solid reputation, will not only benefit both companies but will also play a pivotal role in the growth of Southeast Asia’s EV market. We are looking forward to expanding our partnership globally, starting with Indonesia, then moving into the Middle East, Europe, the UK and the US.”
Nguyen Thanh Duong, CEO of V-GREEN, emphasized the strategic importance of the partnership: “This collaboration opens exciting opportunities for V-GREEN to broaden our global EV charging network. We aim to build a comprehensive ecosystem, reduce environmental impact, and improve the quality of life for consumers.”
Founded by VinFast’s owner Pham Nhat Vuong, V-GREEN holds a 90 per cent stake in the venture. A spin-off from VinFast's charging station division, V-GREEN is dedicated to investing in the broader EV infrastructure, supporting the company’s mission to accelerate the electric transportation revolution.
The MoU with Prime Group is a critical step in VinFast's global strategy, with the development of robust charging infrastructure poised to help the company strengthen its foothold in Indonesia. Since its entry into the Indonesian market, VinFast has launched two EV models, the VF e34 and VF 5, and is expanding its dealer network while building an assembly plant in Subang, West Java, to enhance global production capacity.
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