According to a disclosure on the National Business Registration Portal, Green and Smart Mobility Joint Stock Company (GSM), operating as Xanh SM, completed a capital increase from 25,000 billion VND to 35,500 billion VND on 8/1.

The company's shareholder structure was not disclosed after the additional share issuance. All current capital of Xanh SM is contributed in Vietnamese dong.

A Xanh SM Premium taxi model on the street. *Photo: GSM*

Xanh SM was founded by billionaire Pham Nhat Vuong in March 2023 with an initial charter capital of 3,000 billion VND. The Vingroup chairman contributed 95% of the capital by transferring ownership of over 50.7 million VIC shares from his personal assets. Pham Thu Huong holds 3%, and Vietnam Investment Group holds 2% of the capital.

Initially, the company primarily operated in the taxi and ride-hailing sectors, exclusively using VinFast products. Subsequently, Xanh SM expanded its services to include food delivery, parcel delivery, intra-city transportation, and electric car and motorbike rental.

The ride-hailing company is present in 34 provinces and cities nationwide. Additionally, the enterprise has launched services abroad, in markets including Laos, Indonesia, and the Philippines. According to its plan, the company aims to expand its business into 10 new markets this year.

According to a Mordor Intelligence report, by the end of Q2/2025, Xanh SM led the market share in Vietnam's taxi sector with 44.68%, surpassing Grab (36.08%).

Trong Hieu