This information was announced by VinFast in its first Quarter financial report. According to a framework agreement signed in may, in addition to one million oto, VinFast will also supply Green SM with four million electric motorcycles.

The specific quantity of vehicles, pricing, and delivery schedules will be determined through individual sales contracts signed by both parties over time. VinFast anticipates this collaboration will expand its international distribution network and enhance brand recognition. It will also support Green SM's global fleet expansion plans.

Green SM's fleet. Photo: GSM.

Billionaire Pham Nhat Vuong founded Green SM in 2023 with an initial charter capital of 3,000 billion dong. The company's capital has since grown to over 43,000 billion dong, and it is currently planning an initial public offering (IPO).

Initially, Green SM primarily operated in the taxi and ride-hailing sectors, exclusively using VinFast products. The company later diversified its service offerings to include food delivery, general delivery, intra-city transportation, and electric oto and motorcycle rentals.

Vingroup currently holds a 5% stake in Green SM. According to Vingroup's 2025 consolidated financial report, the conglomerate recorded approximately 23,000 billion dong in revenue with Green SM and two related legal entities in Indonesia and the Philippines.

The VinFast VF3 model. Photo: Luong Dung.

Regarding VinFast's business performance, the company recorded revenue of 23,111 billion dong at the end of the first Quarter, an increase of nearly 42% compared to the same period last year. The company attributed this revenue growth primarily to robust electric vehicle sales in Vietnam and improved contributions from international markets such as India, Indonesia, and the Philippines.

In the first three months of the year, VinFast delivered nearly 58,600 electric oto, marking a 61% increase compared to the first Quarter of 2025. International markets accounted for approximately 8% of the total vehicles sold during this Quarter. Additionally, the company supplied 143,000 electric motorcycles and bicycles to the market.

Despite the increase in sales, VinFast reported a loss of over 28,000 billion dong in the first Quarter, an increase from 17,700 billion dong last year. In 2023, Pham Nhat Vuong, General Director of VinFast, stated the automaker anticipated losses for several years as part of management's strategic plan. However, the company expects to achieve profitability starting next year by transferring its manufacturing operations to a third-party management.

VinFast's financial report also indicated that as of 31/3, Pham Nhat Vuong had provided an additional 33,000 billion dong in funding to the company, fulfilling 66% of the commitment he made in november 2024.

Trong Hieu