Vingroup establishes new company to trade in used EVs

July 02, 2024 | 14:27

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Vingroup has launched a new company with a vision to develop the used electric vehicle market and offer VinFast owners peace of mind regarding resale value

Vingroup chairman Pham Nhat Vuong made the announcement regarding For Green Future (FGF) Trading and Services JSC on July 1, and will hold a 90 per cent stake.

Vingroup establishes new company to trade in used EVs

A VF5 model

Through FGF, consumers will be able to more easily access and transition to electric vehicles at competitive prices with guaranteed quality, along with self-driving car rental services (both new and used) offered at reasonable costs.

This will contribute to the government's commitment to achieving net zero by 2050.

Nguyen Duc Minh, CEO of FGF, said, "FGF was born to provide green solutions for everyone. Through FGF, consumers can quickly and conveniently access, own, and use EVs at optimal costs. FGF will be a driving force in the green transition process."

In its initial phase, the company plans to offer 1,000 to 2,000 self-driving rental cars, including all VinFast models, operating in major cities such as Hanoi, Ho Chi Minh City, Da Nang, and Hue.

After officially commencing operations, the fleet size will continue to increase, with plans to expand operations nationwide.

The establishment of FGF marks the next step on Pham Nhat Vuong's journey to green transportation in Vietnam, following the creation of GSM, which operates in passenger transport, and V-Green, which focuses on developing global charging stations.

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By Hoang Minh

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