V-GREEN and Xanh SM Indonesia sign MoU with Lippo for comprehensive green ecosystem in Indonesia

JAKARTA, INDONESIA - Media OutReach Newswire - 23 December 2024 - V-GREEN and PT Xanh SM Green and Smart Mobility Indonesia (Xanh SM Indonesia) today announced the signing of a Memorandum of Understanding (MoU) with Lippo Karawaci, a prominent Indonesian real estate development company.

This strategic partnership aims to leverage Lippo Karawaci's established reputation and extensive real estate network to develop a green ecosystem that integrate seamlessly into the daily lives of Indonesian citizens. The primary goal of this collaboration is to significantly accelerate the adoption of electric transportation across the region.

Under the MoU, the three companies will engage in cooperative research and development initiatives to expand the EV ecosystem and promote a green transformation within Indonesia's transportation sector. These collaborative efforts will include the operation of V-GREEN EV charging stations and Xanh SM Indonesia taxi stands at properties developed and operated by Lippo.

The partnership will also explore investment and business models for future collaboration. All parties are committed to supporting promotional, marketing, and sales programs related to this agreement, aligning with sustainable development goals in accordance with ESG standards.

Mr. Marlo Budiman, President Director of PT Lippo Karawaci Tbk. stated: "Lippo is proud to join V-GREEN and Xanh SM Indonesia as a pioneering strategic partner in building a greener future for Indonesia. We recognize the critical importance of ESG standards in sustainable business practices and value V-GREEN's expertise in deploying charging infrastructure. Together, we aim to create a green transportation ecosystem that delivers tangible benefits to the Indonesian people and contributes to a cleaner future for all."

Mr. Nguyen Thanh Duong, CEO of V-GREEN, remarked: "This strategic collaboration with Lippo will leverage the company's extensive real estate portfolio to establish a robust foundation for V-GREEN's development of a comprehensive electric vehicle charging station network throughout Indonesia. This joint effort will facilitate the creation of a seamless EV ecosystem, designed for integration into the daily lives of Indonesian citizens. This significant partnership plays a vital role in realizing our shared mission of 'For a Green Future', actively pursued by VinFast, V-GREEN and Xanh SM within the Indonesian market."

Mr. Nguyen Van Thanh, CEO of GSM, added: "The growing demand for sustainable and smart mobility solutions in Indonesia presents a compelling opportunity for Xanh SM to advance our mission of pioneering the regional electric transportation revolution. With the signing of this MoU, Xanh SM Indonesia aims not only to provide convenient and efficient transportation experiences, but also to contribute to the development of a comprehensive EV ecosystem, fostering a more sustainable future for Indonesia and the region."

Under the leadership of founder Pham Nhat Vuong's, V-GREEN, VinFast, and Xanh SM have established a comprehensive ecosystem aimed at pioneering electric transportation. Indonesia is a key market in this global strategy, where the three companies seek to create a sustainable transportation network.

To support this goal, V-GREEN has signed a strategic MoU with the multi-industry conglomerate Prime Group, through its UAE subsidiary, to develop a network of approximately 100,000 VinFast electric vehicle charging stations throughout Indonesia in the next three years, representing a projected total investment of up to $1.2 billion USD.

Simultaneously, at its official launch event in Indonesia, Xanh SM Indonesia has signed MoUs with nine partners across key sectors, including banking, telecommunications, real estate, and retail.

Since its launch in Indonesia, VinFast has delivered the VF e34 and VF 5 models, expanded its dealer network, implemented attractive sales policies, and broken ground on an assembly plant in Subang, West Java, as part of ongoing efforts to bolster its global production capacity.


Hashtag: #VGreen #XanhSM

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

About Xanh SM

Xanh SM is a pioneer in all-electric transportation, offering a high-tech and sustainable mobility ecosystem proudly rooted in Vietnam. With a bold vision, Xanh SM strives to accelerate the world's green, sustainable transportation transformation, playing a pivotal role in safeguarding the planet for generations to come.

About Lippo Karawaci (“LPKR”)

Listed on the Indonesia Stock Exchange, PT Lippo Karawaci Tbk is Indonesia's largest real estate company by total assets and revenue. With a diversified business portfolio, Lippo Karawaci is involved in urban development, healthcare, hospitality, and property management. The Company is committed to delivering sustainable value to its shareholders and customers through innovation and excellence in all its operations.

As a leading real estate developer and township operator with 1,398 ha of landbank ready for development, LPKR develops and manages urban development primarily in Java and Sulawesi, including at our flagship township Lippo Village in Tangerang. Through LPKR's two publicly listed subsidiaries, PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, of which we own 83.99% and 62.69% respectively, we also develop and manage the townships of Lippo Cikarang in Bekasi and Tanjung Bunga in Makassar.

In addition, LPKR owns 29.09% of PT Siloam International Hospitals Tbk, Indonesia's leading private hospital network, with 41 hospitals and 73 clinics in 23 provinces nationwide. Aside from healthcare, we manage 59 malls across Indonesia and hold a 47.29% stake in Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT with SGD 1.5 billion of assets under management as of 31 December 2023. We also operate 10 hotels under the Aryaduta brand, and a country club and golf course.

www.lippokarawaci.co.id