Latest news with #XanhSM
Yahoo
5 days ago
- Automotive
- Yahoo
Vietnam Car Rental Market Share Analysis, Trends, Competitive Intelligence and Growth Forecasts (2025-2030) Featuring Vietnam Sun (Vinasun), Mai Linh Group, Vina(Vietnam) Rent A Car and More
Increased Internet Use, Tech Advancements, and a Growing Preference for Electric Vehicles Driving the Market at 13.82% CAGR Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Vietnam Car Rental - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)" report has been added to Vietnam Car Rental Market size is estimated at USD 0.77 billion in 2025, and is expected to reach USD 1.48 billion by 2030, at a CAGR of 13.82% during the forecast period (2025-2030).Over the long term, with the rapid urbanization and rise of the middle class in Vietnam, car rental is expected to become one of the best-known services available in the urban transportation industry for local use, airport transportation, and out-of-town travel. The Vietnamese car rental market has grown quickly as a result of the increased internet penetration and the steady growth of the organized advancement is also a key driver of the automotive equipment rental market, as car rental companies are increasingly utilizing digital technologies like the Internet of Things (IoT) and big data to enhance customer service, lower operational costs, and better manage their fleet. Companies are launching their value-added services in the market and strengthening their footprint in one of the most significant developments is the increasing popularity of electric and autonomous vehicles. As more car manufacturers invest in the research and development of these technologies, it is expected that the car rental industry will need to adapt to accommodate these new types of vehicles. For instance,Key Highlights In January 2024, Xanh SM, which is a new transportation brand launched in early 2023 focusing on sustainable growth, launched a short-term self-driving car rental service, Xanh SM Rentals. The company offers electric car rental packages with appealing price policies, attracting more than 15 million customers after only eight months of launch. Similarly, in April 2023, Green and Smart Mobility JSC (GSM) was established and launched in Vietnam as a multi-platform green transportation model. It operates with a fleet of 100% electric vehicles. The major players such as The Hertz Corporation. VinFast, and others use connected car technologies as they provide data that can be used to understand their customers' needs and preferences better and offer personalized rental heavy import duty taxes on electric vehicles are hindering the growth of the car rental market in Vietnam. The government is taking initiatives to expand EV manufacturing plants and charging infrastructure, such as the National Automobile Development Strategy (2021-2050) and the Vietnam Automobile Manufacturers Association (VAMA), which aims to stimulate manufacturing and significantly increase the use of e-vehicles with a planned annual production capacity of 3.5 million electric vehicles by Car Rental Market Trends Online Segment Holds the Highest Share Rising internet users, coupled with the convenience of availing online services for rental services, serve as significant determinants for the growth of this market segment. According to the World Bank Data, the number of internet users in Vietnam was more than 80% in 2023, which acts as a major factor for the exponential rise in the share of online booking channels. The developments in smartphones and internet technology have brought considerable changes in the travel and transportation industry. It uses an online platform and apps to book the ride, and this helps to connect passengers and cars. For instance, According to the General Statistics Office of Vietnam, the average population in Hanoi amounted to approximately 8.43 million people. At least 95% of total households in Hanoi are expected to use at least one smartphone by 2025. Similarly, the postal-telecommunications infrastructure development plan drives the city's digital transformation program to 2025 with a vision for 2030. The growing number of smartphone users and rising adoption of internet technology in Hanoi is attributed to the growth of mobility services in the province. Furthermore, online renting is increasingly preferred by consumers as they can avoid the hassle of visiting physical locations and comparing prices, car makes, and models. Online mediums also assist in expanding the choice base of consumers before deciding. The expanding tourism sector across Vietnam also contributes to the increasing demand for car rental services since international tourists can avail of online mediums to pre-book their desired vehicles. With the strategic government investment to develop and improve the region's tourism sector, a massive demand is expected for renting cars through the online segment in the coming years. The government of Vietnam estimates 18 million international visitors and 120 million domestic tourists by 2025. The country is taking steps to make the tourism sector more sustainable, which may also boost its economy. Various companies, such as Momondo and Avis, are offering online booking services to locations like Hanoi, Ho Chi Minh City, and Da Nang to book various types of vehicles, from SUVs to hatchbacks. The other features include locking/unlocking cars via an app and watching the dash camera. Commuting Holds the Highest Share Vietnam has witnessed an exponential rise in population growth with rising urbanization. There is a growing demand for convenient transportation options as people migrate to urban cities to seek employment for better living standards. People are adopting car rental services for daily commuting and shopping trips, which creates a positive impact on the market. Moreover, the focus on sustainable transportation to meet net zero emission goals is creating a consistent and growing customer base for taxi companies. For instance, the Vietnamese Ministry of Transport (MoT) has sought feedback on a proposed policy to boost the electric vehicle (EV) industry by offering a USD 1,000 subsidy to electric car buyers, a move that could accelerate the shift toward green, eco-friendly energy in the country. The various car rental companies in Vietnam, such as Grab's Transportation Service, are making transitions in urban commuting, offering choices of diverse preferences and ensuring comfortable rides with a wide variety of vehicle choices, which allows users to select the option that best suits their needs and budget. The growth in technological advances, like the adoption of ride-hailing platforms, is improving the reach of taxi services in Vietnam. The various features offered by platforms include real-time tracking, driver ratings, and a secure, cashless transaction system. The other services, like quicker trips through traffic, have become an integral part of daily commuting in Vietnam. A local metered taxi is also considered a safe and reasonable way to travel as it is great for tourists who do not know about the area they are visiting. Considering the growth, new startup companies are focusing on increasing their fleet size and capacity to expand their user base and opting for funding options as well. Moreover, heavy investments from car rental service providers are expected to cater to the growing demand for electric vehicles by expansion of its fleets. The companies offer electric vehicles in different segments ranging from hatchbacks to high-end SUVs like BMW X5. For instance, in January 2024, Be Group announced that it received VND 739.5 billion (USD 40.4 million) in funding from VPBank Securities to complete its network expansion. Vietnam Car Rental Industry OverviewThe Vietnamese car rental market is consolidated and led by globally and regionally established players. The companies adopt strategies such as new product launches, collaborations, and mergers to sustain their market instance, in March 2023, VinFast established a new electric car and scooter rental company in Vietnam. VinFast is part of a large Vietnamese conglomerate named VinGroup, which also uses VinFast EVs to promote green of the major players in the market include Avis Budget Group, The Hertz Corporation, Hertz, Enterprise Holdings, Vinasun Corp., Mai Linh Group, and VN Rent a Car. Key Topics Covered1 INTRODUCTION1.1 Study Assumptions1.2 Scope of the Study2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY4 MARKET DYNAMICS4.1 Market Drivers4.1.1 Increasing Penetration of Electric Vehicles for Rental Fuels4.2 Market Restraints4.2.1 Alternative Mode of Transport Options Hinder the Market's Growth4.3 Porter's Five Forces Analysis5 MARKET SEGMENTATION (Market Size in USD million)5.1 By Booking Type5.1.1 Online5.1.2 Offline5.2 By Rental Duration5.2.1 Short-term5.2.2 Long-term5.3 By Application Type5.3.1 Tourism5.3.2 Commuting6 COMPETITIVE LANDSCAPE6.1 Vendor Market Share6.2 Company Profiles6.2.1 Vietnam Sun Corporation (Vinasun)6.2.2 Mai Linh Group6.2.3 Vina(Vietnam) Rent A Car6.2.4 Grab Holdings Inc.6.2.5 PT Gojek6.2.6 Hertz Corporation6.2.7 Enterprise Holdings6.2.8 Avis Budget Group6.2.9 Green and Smart Mobility JSC (GSM)7 MARKET OPPORTUNITIES AND FUTURE TRENDSFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
17-05-2025
- Automotive
- The Sun
GSM launches Xanh SM platform, officially distributes VinFast VF 3 and VF 5 electric vehicles in Laos
VIENTIANE, LAOS - Media OutReach Newswire - 17 May 2025 – Green and Smart Mobility Joint Stock Company (GSM), the operator of Xanh SM – Southeast Asia's first all-electric ride-hailing service – has officially launched the Xanh SM Platform in Laos. In tandem, GSM announced the official distribution of two electric vehicle models, the VinFast VF 3 and VF 5, in the country. Laos is the second international market, following Vietnam, where GSM is deploying its comprehensive model that integrates electric vehicle distribution with eco-friendly ride-hailing services. This expansion marks a strategic milestone in GSM's 'Go Green Global' vision, underscoring its pioneering role in bringing Vietnam's sustainable transportation model to the regional stage. Following more than a year of successful operations in Vientiane, Vang Vieng, Savannakhet, and Champasak, Xanh SM has earned strong support from Laotian users. Millions have embraced the service, traveling over 8 million electric kilometers and collectively reducing carbon emissions equivalent to what 70,000 trees absorb in a year—highlighting the model's compatibility with and impact on the local market. Building on this foundation, GSM is now introducing the Xanh SM Platform – an open technology solution that empowers VinFast VF 5 owners in Laos to become ride-hailing partners and generate sustainable income. With a highly competitive revenue-sharing model offering drivers up to 87% of fare income—among the highest in the Laotian market—the Xanh SM Platform not only ensures attractive earnings but also provides access to a large customer base through the Xanh SM ecosystem. Partners will benefit from comprehensive training programs aligned with international standards for green transport services. Coinciding with the platform launch, GSM also opened its first VinFast showroom in Laos, located on Kaysone Phomvihane Road, Phakao Village, Xaythany District. The company officially introduced and commenced sales of the VinFast VF 3 and VF 5, with GSM serving as the exclusive distributor for VinFast vehicles in Laos. The VinFast VF 5 is a compact urban SUV, ideal for service operations with its spacious interior, smart design, and optimized performance. It is listed at 450,297,000 Kip (approx. USD 20,690, VAT included). Customers placing deposits before May 31, 2025, will receive a direct discount of 9,794,000 Kip (USD 450) and enjoy 50% off charging fees for two years (until June 30, 2027). Alternatively, the charging benefit can be converted into a USD 1,000 cash discount on the vehicle price. This brings the total incentive package to 31,558,000 Kip (USD 1,450), lowering the effective cost to just 418,740,000 Kip (USD 19,240). The VinFast VF 3 is a four-seat mini electric car designed for everyday personal use—perfect for young drivers and first-time car owners. The VF 3 is priced at 269,656,000 Kip (USD 12,390, VAT included). Early customers depositing by May 31, 2025, will receive a discount of 5,440,000 Kip (USD 250) and 50% off charging costs for two years (until June 30, 2027). Customers may also convert this benefit into a USD 250 cash deduction from the purchase price, bringing the total incentive value to 10,880,000 Kip (USD 500), reducing the effective price to around USD 11,890. Mr. Nguyen Van Thanh, Global CEO of GSM, shared: 'The launch of the Xanh SM Platform in Laos is not merely a market expansion—it represents a strategic export of a comprehensive sustainable development model where technology, environmental responsibility, and economic opportunity converge. We believe Vietnam is not only capable of producing green vehicles, but also of leading the global mobility transition. Xanh SM is living proof of that vision.' The simultaneous launch of the Xanh SM Platform and the official distribution of the VF 3 and VF 5 in Laos further strengthens the presence of Vietnamese innovation on the global green mobility map. It also reflects GSM's long-term commitment to supporting the Laotian people in building a modern, environmentally friendly, and sustainable transportation infrastructure.
Zawya
17-05-2025
- Automotive
- Zawya
GSM launches Xanh SM platform, officially distributes VinFast VF 3 and VF 5 electric vehicles in Laos
VIENTIANE, LAOS - Media OutReach Newswire - 17 May 2025 – Green and Smart Mobility Joint Stock Company (GSM), the operator of Xanh SM – Southeast Asia's first all-electric ride-hailing service – has officially launched the Xanh SM Platform in Laos. In tandem, GSM announced the official distribution of two electric vehicle models, the VinFast VF 3 and VF 5, in the country. Laos is the second international market, following Vietnam, where GSM is deploying its comprehensive model that integrates electric vehicle distribution with eco-friendly ride-hailing services. This expansion marks a strategic milestone in GSM's "Go Green Global" vision, underscoring its pioneering role in bringing Vietnam's sustainable transportation model to the regional stage. Following more than a year of successful operations in Vientiane, Vang Vieng, Savannakhet, and Champasak, Xanh SM has earned strong support from Laotian users. Millions have embraced the service, traveling over 8 million electric kilometers and collectively reducing carbon emissions equivalent to what 70,000 trees absorb in a year—highlighting the model's compatibility with and impact on the local market. Building on this foundation, GSM is now introducing the Xanh SM Platform – an open technology solution that empowers VinFast VF 5 owners in Laos to become ride-hailing partners and generate sustainable income. With a highly competitive revenue-sharing model offering drivers up to 87% of fare income—among the highest in the Laotian market—the Xanh SM Platform not only ensures attractive earnings but also provides access to a large customer base through the Xanh SM ecosystem. Partners will benefit from comprehensive training programs aligned with international standards for green transport services. Coinciding with the platform launch, GSM also opened its first VinFast showroom in Laos, located on Kaysone Phomvihane Road, Phakao Village, Xaythany District. The company officially introduced and commenced sales of the VinFast VF 3 and VF 5, with GSM serving as the exclusive distributor for VinFast vehicles in Laos. The VinFast VF 5 is a compact urban SUV, ideal for service operations with its spacious interior, smart design, and optimized performance. It is listed at 450,297,000 Kip (approx. USD 20,690, VAT included). Customers placing deposits before May 31, 2025, will receive a direct discount of 9,794,000 Kip (USD 450) and enjoy 50% off charging fees for two years (until June 30, 2027). Alternatively, the charging benefit can be converted into a USD 1,000 cash discount on the vehicle price. This brings the total incentive package to 31,558,000 Kip (USD 1,450), lowering the effective cost to just 418,740,000 Kip (USD 19,240). The VinFast VF 3 is a four-seat mini electric car designed for everyday personal use—perfect for young drivers and first-time car owners. The VF 3 is priced at 269,656,000 Kip (USD 12,390, VAT included). Early customers depositing by May 31, 2025, will receive a discount of 5,440,000 Kip (USD 250) and 50% off charging costs for two years (until June 30, 2027). Customers may also convert this benefit into a USD 250 cash deduction from the purchase price, bringing the total incentive value to 10,880,000 Kip (USD 500), reducing the effective price to around USD 11,890. Mr. Nguyen Van Thanh, Global CEO of GSM, shared: "The launch of the Xanh SM Platform in Laos is not merely a market expansion—it represents a strategic export of a comprehensive sustainable development model where technology, environmental responsibility, and economic opportunity converge. We believe Vietnam is not only capable of producing green vehicles, but also of leading the global mobility transition. Xanh SM is living proof of that vision." The simultaneous launch of the Xanh SM Platform and the official distribution of the VF 3 and VF 5 in Laos further strengthens the presence of Vietnamese innovation on the global green mobility map. It also reflects GSM's long-term commitment to supporting the Laotian people in building a modern, environmentally friendly, and sustainable transportation infrastructure. Hashtag: #GSM #XanhSM The issuer is solely responsible for the content of this announcement. GSM
Bahrain News Gazette
24-04-2025
- Automotive
- Bahrain News Gazette
Vingroup Advances Sustainability Through a Holistic Ecosystem Approach
Vingroup is shaping a green ecosystem that seamlessly integrates sustainability into transportation, urban living, and environmental conservation, under Chairman Phạm Nhật Vượng's visionary leadership. HANOI, VIETNAM – Media OutReach Newswire – 24 April 2025 – As climate change intensifies and sustainable practices become a global priority, businesses are increasingly called upon to address environmental challenges. Vingroup, a diversified conglomerate led by its Chairman – Vietnamese billionaire Phạm Nhật Vượng, has embraced this responsibility by developing a green ecosystem in Vietnam. This comprehensive approach integrates sustainable transportation, eco-friendly urban developments, and environmental initiatives, positioning the group to contribute meaningfully to both economic progress and environmental conservation. | Vinhomes Ocean Park 1 urban area, part of the Vingroup ecosystem. Central to this ecosystem are efforts like VinFast's electric vehicles, Vinhomes' green urban projects, and Vinpearl's sustainable tourism practices. These initiatives demonstrate how a corporate strategy can align operational priorities with sustainability goals, aiming to lower greenhouse gas emissions, conserve resources, and promote environmentally friendly living. Driving Sustainable Transportation, One EV At A Time A key component of Vingroup's green ecosystem is its emphasis on sustainable transportation, driven by VinFast. Focused on producing electric vehicles, including cars, scooters, buses, and bicycles, VinFast plays a vital role in reducing carbon emissions while aligning with global clean mobility trends. In Q4 2024, the car company posted record-breaking sales in Vietnam, securing its position as the leading player in the domestic market. This milestone highlights a significant consumer shift toward sustainable transportation and reinforces VinFast's expanding role in addressing this growing demand. In addition to VinFast's contributions, initiatives like Xanh SM and V-GREEN expand the ecosystem's impact. These programs promote electric ride-hailing services and invest in charging infrastructure, making sustainable transportation more accessible. By addressing urban mobility challenges and reducing air pollution, they form part of a broader strategy to integrate sustainability into urban planning. Creating Sustainable Urban Spaces Vingroup extends its environmental commitment to urban living through Vinhomes. These residential projects emphasize green spaces, renewable energy, and energy-efficient infrastructure. Certified green buildings within Vinhomes developments contribute to reduced energy consumption and align with international standards for sustainable urban development. Vinhomes also encourages environmentally conscious practices among residents. Incentives such as vouchers for electric cars and scooters have led to increased adoption of clean transportation within these communities. Public spaces are designed to accommodate pedestrians and cyclists, reinforcing a culture of sustainable urban living. Vingroup's sustainability efforts further extend to Vinpearl, its tourism and hospitality division. Resorts and hotels under the Vinpearl brand incorporate waste reduction, water conservation, and biodiversity protection measures. Initiatives such as rainwater collection systems and closed-loop wastewater treatment highlight how tourism can operate responsibly while minimizing environmental impacts. Supporting Broader Environmental Goals Beyond its business operations, Vingroup advances environmental conservation through the Green Future Fund. This initiative supports renewable energy research, reforestation programs, and community engagement efforts. Activities like tree planting campaigns enhance ecosystems and promote greater awareness of sustainability. Chairman Phạm Nhật Vượng's vision for a cohesive green ecosystem exemplifies how established businesses like Vingroup can balance economic development with environmental responsibility. By prioritizing sustainable transportation, eco-friendly urban living, and conservation, Vingroup aligns its operations with global initiatives to tackle climate challenges and promote sustainable development.
Zawya
24-04-2025
- Automotive
- Zawya
Vingroup Advances Sustainability Through a Holistic Ecosystem Approach
Vingroup is shaping a green ecosystem that seamlessly integrates sustainability into transportation, urban living, and environmental conservation, under Chairman Phạm Nhật Vượng's visionary leadership. HANOI, VIETNAM - Media OutReach Newswire - 24 April 2025 - As climate change intensifies and sustainable practices become a global priority, businesses are increasingly called upon to address environmental challenges. Vingroup, a diversified conglomerate led by its Chairman – Vietnamese billionaire Phạm Nhật Vượng, has embraced this responsibility by developing a green ecosystem in Vietnam. This comprehensive approach integrates sustainable transportation, eco-friendly urban developments, and environmental initiatives, positioning the group to contribute meaningfully to both economic progress and environmental conservation. Central to this ecosystem are efforts like VinFast's electric vehicles, Vinhomes' green urban projects, and Vinpearl's sustainable tourism practices. These initiatives demonstrate how a corporate strategy can align operational priorities with sustainability goals, aiming to lower greenhouse gas emissions, conserve resources, and promote environmentally friendly living. Driving Sustainable Transportation, One EV At A Time A key component of Vingroup's green ecosystem is its emphasis on sustainable transportation, driven by VinFast. Focused on producing electric vehicles, including cars, scooters, buses, and bicycles, VinFast plays a vital role in reducing carbon emissions while aligning with global clean mobility trends. In Q4 2024, the car company posted record-breaking sales in Vietnam, securing its position as the leading player in the domestic market. This milestone highlights a significant consumer shift toward sustainable transportation and reinforces VinFast's expanding role in addressing this growing demand. In addition to VinFast's contributions, initiatives like Xanh SM and V-GREEN expand the ecosystem's impact. These programs promote electric ride-hailing services and invest in charging infrastructure, making sustainable transportation more accessible. By addressing urban mobility challenges and reducing air pollution, they form part of a broader strategy to integrate sustainability into urban planning. Creating Sustainable Urban Spaces Vingroup extends its environmental commitment to urban living through Vinhomes. These residential projects emphasize green spaces, renewable energy, and energy-efficient infrastructure. Certified green buildings within Vinhomes developments contribute to reduced energy consumption and align with international standards for sustainable urban development. Vinhomes also encourages environmentally conscious practices among residents. Incentives such as vouchers for electric cars and scooters have led to increased adoption of clean transportation within these communities. Public spaces are designed to accommodate pedestrians and cyclists, reinforcing a culture of sustainable urban living. Vingroup's sustainability efforts further extend to Vinpearl, its tourism and hospitality division. Resorts and hotels under the Vinpearl brand incorporate waste reduction, water conservation, and biodiversity protection measures. Initiatives such as rainwater collection systems and closed-loop wastewater treatment highlight how tourism can operate responsibly while minimizing environmental impacts. Supporting Broader Environmental Goals Beyond its business operations, Vingroup advances environmental conservation through the Green Future Fund. This initiative supports renewable energy research, reforestation programs, and community engagement efforts. Activities like tree planting campaigns enhance ecosystems and promote greater awareness of sustainability. Chairman Phạm Nhật Vượng's vision for a cohesive green ecosystem exemplifies how established businesses like Vingroup can balance economic development with environmental responsibility. By prioritizing sustainable transportation, eco-friendly urban living, and conservation, Vingroup aligns its operations with global initiatives to tackle climate challenges and promote sustainable development. Hashtag: #Vingroup The issuer is solely responsible for the content of this announcement. Vingroup
