VinFast Auto Ltd. electric vehicles charge in garages at the company’s manufacturing site … [+]
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With the support of Vietnamese billionaire Pham Nhat Vuong, V-Green is partnering with Egypt’s Prime Group to build 100,000 VinFast charging stations in Indonesia over the next three years, with an estimated total investment of up to US$1.2 billion.
The partners will initially focus on developing VinFast charging stations in Jakarta, Surabaya, Bali and surrounding areas, with plans to later expand to other parts of Indonesia, the companies said in a statement on Wednesday.
V-Green CEO Nguyen Thanh Duong said in a statement: “Collaboration with strategic partners in the Middle East brings exciting new opportunities for V-Green to expand the global electric vehicle charging network.”
V-Green will start building charging stations in Indonesia in January 2025, with some expected to be operational in the same year. Prime Group will be responsible for obtaining the necessary funding for the project, while V-Green will conduct market research, identify strategic locations, and build and manage the required charging stations to meet the growing demand of Indonesian electric vehicle users.
Prime Group Chairman Tamer Wagih Salem said in the same statement: “The partnership with V-Green will allow us to explore more opportunities globally, starting with Indonesia and then expanding to the Middle East, Europe, the UK and the US.” .
Pham is the controlling shareholder of Vietnamese conglomerate Vingroup and electric vehicle manufacturer VinFast, and directly owns 90% of V-Green’s shares. The company was spun off from VinFast to help accelerate Vietnam’s transition to electric vehicles and allow VinFast to focus on building new vehicle production facilities in the United States, India and Indonesia and growing sales around the world.
With an immediate net worth of US$4.1 billion, Mr. Pham is Vietnam’s richest man. Through Vingroup, he is interested in real estate, retail, healthcare, education, automotive and technology. He started in Ukraine, where in 1993 he founded a business that produced instant noodles.
