Business News 21/01/2024, 09:26

Vietnam's VinFast and GSM sign MOU with Indonesia's largest technology company

VinFast, a Vietnamese EV manufacturer, and GSM, an EV car rental and cab company 95% owned by VinGroup Chairman Pham Nhat Vuong, recently signed a memorandum of understanding with GoTo Gojek Tokopedia, the largest technology company in Indonesia.

Vietnam's VinFast and GSM sign MOU with Indonesia's largest technology company

During the meeting and exchange of opinions between President Joko Widodo of Indonesia and Prime Minister Pham Minh Chinh of Vietnam, VinFast and GSM reported to both leaders on their investment and collaboration plans in Indonesia.

Vinfast intends to invest up to $1.2 billion in multiple stages in the Indonesian market. On the other hand, GSM views Indonesia as a potentially significant market and plans to invest up to $900 million in the country.

Furthermore, Vinfast and GSM have signed a memorandum of understanding to collaborate with GoTo Gojek Tokopedia, particularly in the electric vehicle sector.

The Vietnamese companies aim to support the conversion of drivers of GoTo GoJec Tokopedia's transportation-on-demand service, GoJec, to electric vehicles, and at the same time provide Indonesian consumers with the opportunity to experience GSM's high-quality service with environmentally friendly electric vehicles. Vinfast and GSM expressed their strong commitment to contributing to Indonesia's goal of reducing transportation emissions.

On the same day, President Joko Widodo of Indonesia and the leaders of both countries visited Vinfast's factory in Haiphong, Vietnam.

CafeF / Translator: Hoàng Giang
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