V-Green, the charging infrastructure company founded by VinFast’s Pham Nhat Vuong, has signed a letter of intent with the Prime Group to develop 100,000 electric vehicle (EV) charging stations across Indonesia over the next three years. This initiative, which is scheduled to commence in 2025, comes with an estimated investment of up to 1.2 billion US dollars (1.14 billion euros).
The Memorandum of Understanding (MoU) signed on St. Nicholas’ Day reflects both parties’ intent to explore the collaboration further. While the agreement has yet to be finalized, V-Green’s rollout plan is already in motion, focusing initially on the development of charging stations in major cities like Jakarta, Surabaya, and Bali. The expansion is expected to extend to other regions of Indonesia in later phases. The company has not confirmed whether the charging stations will feature DC fast-charging points, though it is considering all options, with an emphasis on AC charging points.
V-Green, while founded by VinFast’s Pham Nhat Vuong, operates independently of VinFast’s own charging infrastructure department, with the stations being available to EVs from all manufacturers. Despite this, VinFast’s presence in the market remains significant, as the company already offers two EV models, the VF e34 and VF 5, in Indonesia and has started construction on its own assembly plant in Subang.
Tamer Wagih Salem, Chairman of Prime Group, expressed confidence in the partnership’s potential, stating, “We are confident that this collaboration, driven by V-Green’s reputation and execution capabilities, will not only benefit both companies but also contribute significantly to the growth of the Southeast Asian electric vehicle market.” Nguyen Thanh Duong, CEO of V-Green, emphasized the strategic opportunity of partnering with Prime Group, opening doors for expansion into other markets, including the Middle East, Europe, and North America.
