Xanh SM strikes double wins at Asia Pacific Enterprise Awards

These accolades testify to the company's tireless commitment to advancing green transportation across Vietnam.

Xanh SM's success was highlighted by its triumph in the Fast Enterprise Award category, alongside four other companies from different industries. This marked Xanh SM’s debut appearance at APEA, and it stood out as the sole nominee from the passenger transport sector.

Xanh SM’s representative, Pham Thanh Tu (left), receiving the Fast Enterprise Award from Enterprise Asia. Photo: Xanh SM

Xanh SM’s growth story is nothing short of remarkable. In less than two years, the company has solidified its standing as a green pioneer, rolling out over 80,000 electric vehicles, both cars and scooters, across 55 provinces and cities. From its striking cyan-colored fleet to its nationwide presence, Xanh SM has quickly become a familiar name.

Key to this success are the three flexible ride-hailing options: traditional street hailing, booking via call centre, and a user-friendly mobile app. These choices have made Xanh SM an accessible and trusted service for all, from tech-savvy young adults to older generations. By the fourth quarter of 2023, Xanh SM commanded nearly 20 per cent of the ride-hailing market, outperforming many competitors as global companies began to pull out. In Q1 2024, Decision Lab’s report “The Connected Consumer” recognised Xanh SM as the second most popular ride-hailing app in Vietnam, with over 32 per cent market penetration.

Minh Lan, a regular Xanh SM customer from Dong Da district, Hanoi, said, “I commute frequently for work and have only been using Xanh SM’s electric taxis. The cars are always spotless, and eco-friendly, and the app makes everything so convenient. It’s a much better experience compared to other taxi services.”

Leading a sustainable future and inspiring change

Xanh SM isn’t just a fully electric ride-hailing platform, it’s an inspiration for the green transportation revolution. With a mission to build a sustainable green network, Xanh SM has partnered with numerous transport companies and businesses to expand its electric fleet. Many significant partners, such as prominent transport companies, have switched to VinFast EVs, driven by shared economic and environmental goals.

Nguyen Van Dinh, chairman of En Vang International JSC, owner of En Vang Taxi, noted, “Our partnership with Xanh SM has not only expanded our scale but also enhanced our brand's prestige by joining a sustainable green transport network.”

Xanh SM has partnered with over 40 transport companies, expanding its electric taxi service to 10 new provinces. This expansion shows no signs of slowing, as the company strives to “greenify” the country. In 2024, Xanh SM aims to build a transportation network powered by sustainable energy, contributing to emission reduction and environmental protection.

At the awards ceremony, a Xanh SM representative stated, “We will continue to innovate and improve, consistently upholding 5-star standard quality while expanding our green mobility solutions to shape a sustainable transport future and reduce emissions for communities.”

A well-trained driver team and fast development are key factors behind Xanh SM’s competitive edge in Vietnam. Photo: Xanh SM

Winning two major awards at APEA 2024 highlights Xanh SM’s extraordinary growth within Vietnam and paves the way for collaborations with over 2,000 leading Asian enterprises, boosting the company’s international profile.

Following its recent success at both national awards, Xanh SM is clearly on a path of strong, strategic growth, and poised for even greater breakthroughs regionally and globally.

The APEA, recognised as one of the top business awards in the Asia-Pacific region, has been held annually since 2006 by Enterprise Asia. The awards apply rigorous standards, evaluating companies on financial audits, operational excellence, and social responsibility. APEA celebrates businesses that make extraordinary contributions to economic growth and create sustainable value. This year’s theme is “Celebrating Inclusive Entrepreneurship,” the awards recognised companies driving equality in business opportunities while harmonising economic, social, and environmental goals.

GSM and Mai Linh to enter auto repair services in Vietnam GSM and Mai Linh Group have created the joint venture MeKong Xanh SM to develop a comprehensive network of 99 auto repair workshops nationwide, offering maintenance for both petrol and electric vehicles in 2025.

Asia Pacific Enterprise Awards 2024 honour industry leaders and leading corporations in Vietnam The Asia Pacific Enterprise Awards (APEA) 2024 honoured Vietnam’s inspiring business moguls and visionaries of inclusive entrepreneurship on October 3 at the GEM Centre in Ho Chi Minh City.

GSM enters ride-hailing market with Xanh SM Bike Platform GSM has announced the launch of its Xanh (Green) SM Bike Platform specifically for VinFast electric motorcycles. The new platform will feature a competitive revenue-sharing policy, with drivers receiving the vast majority of each ride's revenue.