V-GREEN and Prime Group have signed a memorandum of understanding (MoU) to expand the electric vehicle (EV) charging infrastructure in Indonesia.
Under the agreement, the companies will establish around 100,000 VinFast EV charging stations across the country over the next three years, with an investment of up to $1.2bn.
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The move is aimed at facilitating the growing adoption of EVs in Indonesia.
V-GREEN will initially focus on key urban areas including Jakarta, Surabaya, Bali, and their surroundings, with plans to broaden the network to other regions in future phases.
The development is set to commence in January 2025, with several stations anticipated to be operational within the same year.
Prime Group, operating through its UAE subsidiary, will be responsible for securing the necessary funding for this project.
The conglomerate’s global network and financial strength will support the development of the VinFast EV charging infrastructure.
V-GREEN’s role will include market research, strategic location identification, and the construction and operation of the charging network.
V-GREEN CEO Nguyen Thanh Duong said: “Partnering with a strategic Middle Eastern partner opens up exciting new opportunities for V-GREEN to expand our global electric vehicle charging network.
“Together, we will create a comprehensive electric vehicle ecosystem, reducing environmental impact and enhancing quality of life.
“This collaboration will yield significant benefits for both our companies, consumers, and the community. Together with VinFast and GSM, we will strongly promote the “For a Green Future” campaign in Indonesia.”
