GSM surpasses 50 million customers after 1 year of launch

HANOI, VIETNAM - Media OutReach Newswire - 15 April 2024 - Celebrating its first year of operation since launching its electric taxi services in Vietnam, GSM has served over 50 million customers.

The company has also expanded its services to many provinces and cities across Vietnam, contributing to a reduction of tens of thousands of tons of CO2 emissions.

In a major development for sustainable transportation in Vietnam, Green and Smart Mobility Joint Stock Company (GSM) officially launched the GSM pure electric taxi service in Hanoi on April 14, 2023. This marked the first time in Vietnam that a complex transportation model using 100% VinFast electric cars and motorbikes was introduced.

In its first year, GSM has achieved remarkable growth, launching new services, expanding to numerous provinces and cities, and even entering its first international market. Through these efforts, GSM has established itself as a major player in the ride-hailing market, winning the hearts of millions of customers.

GSM has significantly expanded its offerings in Vietnam, moving beyond the initial electric taxi service. The company now provides a comprehensive suite of electric mobility solutions, including electric motorbike transportation and delivery services, all-inclusive electric car transportation packages tailored to customer needs, and electric car rentals with or without drivers. Their most recent innovation, the Xanh SM Platform, connects VinFast electric car owners nationwide, allowing them to offer rides and share revenue.

Furthermore, GSM has established a robust presence across Vietnam, expanding to 36 provinces and cities. Through partnerships with over 30 businesses, they've played a key role in converting fleets and promoting the operation of electric car transportation services throughout the country. This collaborative effort significantly strengthens GSM's position as a leader in green transportation and promotes its widespread adoption across localities.

GSM's fleet of high-quality VinFast electric cars has traveled over 300 million kilometers in the past year, entirely on electric power. This has prevented an estimated 52,000 tons of CO2 emissions, equivalent to 2.6 million trees photosynthesizing throughout the year. GSM's commitment to sustainability extends beyond its core business. The company has also contributed nearly 30 billion VND (approx 1.2 million USD) to Vingroup's For Green Future Foundation, supporting environmental initiatives throughout Vietnam.

By the end of Q4/2023, GSM had achieved a strong second-place position in Vietnam's ride-hailing market, capturing an impressive 18.17% market share and surpassing many established brands. Customers praise GSM for its commitment to a fully electric fleet, its high-quality drivers, and its exceptional 5-star service, setting a new standard for the industry.

Having secured a dominant position in Vietnam, GSM has embarked on a rapid international expansion. Laos became its first overseas market, demonstrating the company's ambitious growth strategy. With plans to be operational in 9 countries by 2025, GSM is well on its way to becoming a leading global provider of pure electric ride-hailing services.

Mr. Nguyen Van Thanh, Global CEO of GSM, shared: "GSM's impressive achievements are a testament to both customer acceptance and the dedication of our pioneering team. Together, they have brought green transportation and delivery solutions closer to everyone. This combined force fuels Xanh SM's journey to conquer new milestones in its mission of creating a greener, more convenient, and sustainable transportation future"

As GSM embarks on its second year, the company remains committed to its core values and unwavering mission: creating green, convenient, and sustainable transportation solutions. GSM aspires to be a leader in the global green transportation revolution, promoting a more sustainable future for mobility.

Hashtag: #GSM

The issuer is solely responsible for the content of this announcement.