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V-GREEN Signs MOU With Four Partners to Deploy Over 60,000 VinFast EV Charging Ports in Indonesia, With a Projected Total Investment of USD 300 Million

May 9, 2025

PRESS RELEASE

V-GREEN SIGNS MOU WITH FOUR PARTNERS TO DEPLOY OVER 60,000 VINFAST EV CHARGING PORTS IN INDONESIA, WITH A PROJECTED TOTAL INVESTMENT OF USD 300 MILLION

Jakarta, May 9, 2025 – Global EV charging station developer V-GREEN has announced the signing of Memoranda of Understanding (MOU) with four strategic partners to deploy approximately 63,000 charging ports in total exclusively for VinFast electric vehicles in Indonesia by the end of 2025, more than double the previously announced target. This collaboration underscores V-GREEN’s commitment to expanding the VinFast EV ecosystem across Southeast Asia and demonstrates the Company’s growing credibility and appeal among leading players in the green mobility sector.

Under the agreement, V-GREEN and its four partners, including Chargecore, Chargepoint, Amarta Group, and CVS, will jointly invest a total of 300 million USD to develop EV charging infrastructure throughout Indonesia, focusing on provinces such as Jabodatebek, Bandung, Surabaya, Makassar, Medan, Batam, Bali, and Kalimantan. The projects will launch in May 2025, with the first stations scheduled to go online in June.

In 2025 alone, Chargecore plans to invest a minimum of 30 million USD, while Chargepoint, Amarta Group, and CVS have each committed to becoming charging ports distributors and investing approximately 5.3 million USD annually. V-GREEN will directly invest in 20% of the stations, while the remaining 80% will be implemented through business cooperation contracts (BCC).

Since its entry into the Indonesian market, V-GREEN has operated under the BCC model in partnership with leading reputable local businesses. The company is offering investors highly attractive terms, including a power purchase rate of 750 rupiah/kWh and a guaranteed annual return of up to 25% during the first three years. These strategic collaborations not only enable V-GREEN to rapidly scale its EV charging network across Indonesia, but also highlight the strong potential of the country’s green transportation sector.

Mr. Mai Truong Giang, Managing Director of V-GREEN Indonesia, said:
“Partnering with reputable companies in Indonesia marks a significant step in our global EV charging network strategy, especially as we respond to growing demand across Southeast Asia. With the support of our strategic partners, we are confident that V-GREEN and VinFast will successfully build a modern green mobility ecosystem that contributes to the region’s and the world’s sustainable development goals.”

Mr. John Yan, co-founder and CEO of Chargecore, shared: “We are excited to collaborate with V-GREEN, a company with a clear vision, strong commitment, and well-defined strategy for EV infrastructure development in Indonesia. This partnership not only delivers strong business results for Chargecore, but also supports the nation’s transition to electric vehicles and a more sustainable future.”

Mr. Daniel Nguyen, CEO of Chargepoint, stated: "We have strong confidence in the growth potential of electric vehicles in Indonesia — a promising market that is undergoing a remarkable transition toward greener transportation. As the official distributor of V-GREEN in Vietnam, Chargepoint is proud to continue supporting the expansion of VinFast’s electric mobility ecosystem across Southeast Asia, with Indonesia as our first destination. This marks a clear demonstration of our long-term commitment and regional vision as a Vietnamese enterprise in the green transportation sector."

Established by VinFast’s founder Pham Nhat Vuong, V-GREEN has built a leading position in Vietnam, operating roughly 150,000 charging ports nationwide. The company continues to grow its network through partnerships and is actively expanding into international markets.

In Indonesia, V-GREEN quickly garnered interest and trust from local and international partners. The company targets 50,000 charging stations and 63,999 charging ports in total nationwide by 2025. As an early step toward that goal, VinFast owners can already charge their vehicles for free at 1,000 V-GREEN-operated stations starting in May.

Currently, VinFast has launched four electric car models—VF 3, VF 5, VF 6, and VF e34—just over a year after entering Indonesia. The rapid expansion of V-GREEN’s charging network will help meet increasing demand for VinFast EVs in the market, provide convenience to local consumers, and contribute to global sustainable development goals./.

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About V-GREEN

V-GREEN, the Global EV Charging Station Development Company, was established by billionaire Pham Nhat Vuong, the founder of VinFast. The company is focused on building an extensive charging network for VinFast electric vehicles, with more than 150,000 charging ports planned across Vietnam. V-GREEN has also established a presence in Indonesia and is actively pursuing expansion into other promising international markets.

Guided by the mission “For a Green Future for Everyone,” V-GREEN envisions becoming a global pioneer in green infrastructure, offering smart, convenient, and flexible charging solutions. Learn more at https://vgreen.net/

About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses.

VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at: https://vinfastauto.id/