Sunita Somvanshi
Billionaire Pham Nhat Vuong has created a new company to build charging stations for electric cars. His company, called V-Green, will first focus on supporting his own electric car brand, VinFast.
Vuong owns 90% of V-Green and plans to spend $404 million of his personal money over the next two years to build charging stations across Vietnam. This huge investment is three times larger than what VinFast had originally planned to spend on charging.
“V-Green will directly search for land and partners to establish and expand its charging network in key markets of VinFast,” Vuong said.
The company made a significant move into Indonesia. In May 2025, V-Green signed a Memorandum of Understanding (MoU) with four local partners to install 63,000 charging ports throughout Indonesia by the end of 2025. The project will cost about $300 million.
These charging stations will be built in major cities like Jakarta, Bandung, Surabaya, and popular areas like Bali. VinFast car owners in Indonesia will get a nice bonus – they can charge for free at over 1,000 stations starting in May 2025.
V-Green won’t build all these stations alone. The company will directly pay for 20% of them, while local partners will fund the other 80%. This team approach helps V-Green expand quickly and navigate local rules.
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By creating V-Green as a separate business, Vuong helps VinFast focus on making cars rather than building charging stations. This matters because charging stations require lots of money but take time to become profitable.
“Chairman Pham Nhat Vuong’s willingness to use his personal assets to support V-Green demonstrates this commitment,” said Nguyen Duc Thanh, who runs V-Green. “It reduces VinFast’s infrastructure investment needs.”
The charging station market is growing fast worldwide. Last year, over 1.3 million new public charging points were added globally, a 30% jump from the year before. Fast chargers, which can power up a car much quicker than home outlets, now number around 2 million worldwide.
V-Green might eventually open its charging stations to other car brands after about five years. This would help more drivers switch to electric vehicles and could create a new revenue stream for the company.
VinFast aims to sell cars in at least 50 countries this year. The company is building manufacturing plants in the US, India, and Indonesia to support this growth.
For now, V-Green’s main job is making sure VinFast owners never worry about finding a place to charge. With tens of thousands of new charging points planned, V-Green is addressing one of the biggest concerns for potential electric car buyers – the worry about running out of power with no place to charge.
