Vietnam’s largest conglomerate, Vingroup, announced Monday the formation of a new electric car and scooter rental company that will use VinFast EVs to promote green mobility.

Vingroup aims to “create a better life for people” through its sustainable technology, services, and social enterprises.

Despite having a hand in everything from software development to AI and even golf courses, the company established VinFast in 2017 as it moved to focus on automotive manufacturing.

After delivering the first EV ever sold in Vietnam and introducing the VF 8 and VF 9 SUVs at the 2021 LA Auto show, Vinfast set its sights on becoming a global sustainability brand.

The automaker has expanded its EV offerings beyond passenger vehicles with electric scooters, electric buses, and other clean energy solutions.

VinFast vowed to end the production of combustion vehicles in early 2022 and introduced a full lineup of electric cars, including the VF6 and VF7, to align its strategy. Moving quickly, the auto manufacturer delivered its first 100 VF 8 models, claiming the next batch will be shipped to the US, Canada, and Europe.

By the end of November, VinFast hit a significant milestone, exporting its first batch of nearly 1,000 VF 8 EV models to the US.

At CES 2023, VinFast introduced another first, four electric-assist bicycle concepts to expand its lineup and brand name further, following other automakers such as Polestar, which introduced its own electric bike last year.

After delivering its first VF 8 models to US customers on March 1, Vingroup is announcing another key initiative – a rental and taxi service using VinFast EVs and electric scooters.

Vingroup CEO Pham Nhat Vuong revealed the Green and Smart Mobility Joint Stock Company (GSM), the world’s first multiplatform green transport rental and taxi company, according to the press release.

The rental service is dedicated to using VinFast electric cars and scooters to promote sustainable mobility and advocate a green lifestyle.

The CEO of the GSM, Hguyen Van Thanh, said at the release:

Whether it is just a few dozen minutes in a taxi or a few weeks or months of renting, customers will have the opportunity to experience the smart features and convenience of electric vehicles. In this way, we can accelerate the smart electric vehicle revolution faster and stronger in Vietnam.

GSM will offer EV and scooter rental services for traditional and online taxi companies and their affiliates. Meanwhile, the green transport company will operate its own electric car tax service using VinFast electric vehicles.

The company plans to begin operations in Hanoi next month and will expand throughout Vietnam in 2023.

The new business venture is a win-win for VinFast and transportation in Vietnam. GSM will help promote electric vehicle and scooter use by showing how easy and convenient they can be, along with a long list of other benefits.

The idea is to gradually introduce VinFast EVs and other sustainable transportation options like electric scooters through rental services to integrate them into the daily lives of Vietnamese people.

Meanwhile, it will help expand the VinFast brand with a vast network of rentals planned across the nation by the end of the year.

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Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising