Green SM: Revolutionizing Sustainable Transport in Southeast Asia

Green SM has transformed Vietnam's transportation landscape by pioneering a comprehensive electric mobility system that reduces emissions while growing market share. This sustainable transportation model, recognized for excellence at AREA 2025, demonstrates how emerging economies can rapidly adopt green technology solutions through strategic partnerships and policy innovation.

Key Takeaways

Green SM has captured 40% of Vietnam's electric taxi market while expanding to three additional Southeast Asian countries in just two years
The company has completed over 300 million trips covering 1.7 billion zero-emission kilometers, reducing CO₂ emissions by 211,000+ tons
Their innovative partnership model has converted 19 traditional taxi companies to fully electric fleets while working with airlines and tech platforms
Green SM contributes financially to environmental causes through per-ride donations totaling nearly 30 billion VND
The company's success provides a replicable framework for electric mobility adoption in other developing economies

Environmental Impact and Market Leadership

Since its launch in April 2023, Green SM has rapidly established itself as a dominant force in sustainable transportation. The company now leads Vietnam's electric taxi market with nearly 40% market share while serving over 50 million customers. Operating across 36 provinces and cities, Green SM has secured 18.17% of the Vietnamese ride-hailing market—an impressive achievement for a newcomer in this competitive space.

The environmental benefits have been substantial. Through its electric vehicle operations, Green SM has reduced over 211,000 tons of CO₂ emissions—equivalent to the carbon absorption capacity of approximately 3,200 hectares of forest. This tangible impact demonstrates how focused transportation initiatives can deliver significant environmental results in developing economies.

An aerial view of Green SM's electric taxi fleet in operation on a busy street in Hanoi, Vietnam, with the distinctive green-colored electric vehicles visible against the urban landscape. The image shows multiple electric taxis in service alongside traditional vehicles, highlighting the integration of sustainable transportation into the existing urban environment.

Beyond operational impact, Green SM has committed substantial financial resources to environmental protection. The company has donated nearly 30 billion VND to environmental initiatives through Vingroup's "For Green Future" Foundation. Additionally, Green SM contributes 1,000 VND per electric taxi trip and 100 VND per electric motorbike trip directly to environmental protection efforts, embedding sustainability into its basic business model.

Innovative Ecosystem and Partnership Model

What sets Green SM apart is its flexible ecosystem approach. The company operates its own proprietary fleet of electric vehicles while simultaneously offering the Green SM Platform for individual VinFast EV owners to participate in the service. This dual strategy enables faster scaling while supporting the broader adoption of electric vehicles.

The partnership strategy has been particularly effective in accelerating change. Green SM has partnered with nearly 100 local transport businesses, with 19 companies fully converting their fleets to electric vehicles. Traditional taxi operators including G7 Taxi, Mai Linh, Lado Taxi, and En Vang have worked with Green SM to support their transition to electric vehicles.

These partnerships extend beyond the taxi industry. Strategic alliances with major airlines like Vietjet promote sustainable mobility solutions for travelers, while collaborations with tech platforms such as Gojek expand access to green transport options. This creates a comprehensive mobility ecosystem allowing various stakeholders to participate in and benefit from the transition to electric transportation.

Catalyzing Policy Change and Public-Private Collaboration

Green SM's success has become a catalyst for policy shifts toward low-carbon mobility solutions in Vietnam. The company demonstrates the effectiveness of public-private partnerships in transportation transformation, providing a real-world case study for policymakers.

Company leadership, including Ms. Phan Thi Hong Dung, emphasizes that sustainability is embedded in everyday decisions and operations. This organizational commitment extends beyond business practices to raise community awareness about environmental protection through highly visible green mobility solutions.

The financial contributions made by Green SM support both local and regional green initiatives, creating a virtuous cycle of environmental investment. This approach shows how commercial enterprises can directly fund environmental improvements while maintaining profitable operations.

Rapid Growth and Customer Adoption

Green SM's growth trajectory has been remarkable. In September 2023, the company celebrated its 6 millionth ride milestone—a symbolic achievement highlighted by the experience of Mr. Nguyen Thai Duong as the 6 millionth ride customer. This rapid customer growth, despite being a newcomer in a competitive market, indicates strong consumer readiness for green transportation alternatives.

The service expansion across 36 Vietnamese provinces demonstrates the scalability of the model within Vietnam. Customer adoption rates validate the market viability of premium green transportation services, showing that consumers are willing to choose environmentally friendly options when they are convenient and comparable in price to traditional alternatives.

Scalable Model for Emerging Economies

Green SM demonstrates how developing nations can accelerate green technology adoption without waiting for extensive infrastructure development. The company provides a replicable framework for electric mobility in similar economic contexts, showing that sustainable transportation can be commercially viable in emerging markets.

With plans to operate in 9 countries by 2025, Green SM is setting a benchmark for international electric ride-hailing services. The model shows a clear pathway to achieving significant environmental impact in the transportation sector while offering lessons for policymakers on incentivizing green transportation transitions.

The success of Green SM proves that sustainable transportation solutions can be commercially successful in emerging markets when implemented with the right combination of technology, partnerships, and business model innovation.

Regional Expansion and International Impact

Green SM has already successfully entered markets in Laos, Indonesia, and the Philippines, demonstrating the cross-border applicability of its sustainable transportation model. These international expansion efforts have been enhanced through partnerships with regional players like Vietjet to improve international connectivity.

The collaboration with established tech platforms like Gojek shows the integration potential of Green SM's approach. This international recognition, including the Green Leadership award at AREA 2025, validates the global relevance of the company's approach to sustainable mobility.

Green SM now serves as a case study for sustainable mobility expansion across Southeast Asia, showing how electric vehicle adoption can be accelerated through strategic partnerships and innovative business models.

Future Outlook and Broader Implications

As Green SM continues its expansion, it will further validate the scalability of the electric ride-hailing model. The company has the potential to influence transportation policy frameworks across Southeast Asia and may accelerate electric vehicle adoption through its demonstrated commercial success.

The model could be adapted for other emerging economies beyond Southeast Asia, demonstrating a path to decarbonizing the transportation sector in developing nations. Green SM illustrates how developing countries can leapfrog traditional transportation development patterns, moving directly to sustainable mobility solutions rather than replicating the carbon-intensive development of transportation systems in developed economies.

Looking forward, Green SM's approach sets a foundation for the integration of sustainable mobility with broader smart city initiatives. As the company expands its footprint, it creates opportunities for other entrepreneurs and policymakers to build upon its success, accelerating the global transition to sustainable transportation.