Vietnamese ride-hailing platform Green SM has introduced 500 VinFast VF8 electric vehicles across Los Angeles, marking its inaugural U.S. expansion. Despite limited American market presence, the company boasts over 850 million completed rides globally, primarily in Europe and Asia.
The company’s fleet is made up of VinFast VF8 EVs, which are cyan-colored electric cars that emit zero emissions. VinFast is the most popular automaker in Vietnam, but it hasn’t gained much traction in the United States since its debut in 2023.
Unique Approach
Unlike competitors like Uber and Lyft, which rely on gig workers using personal vehicles, Green SM employs a unique model. The company owns its fleet and hires full-time, trained drivers, ensuring a consistent and high-quality service. This approach sets Green SM apart in a market saturated with ride-hailing options, including autonomous vehicles.
Riders in Los Angeles can access Green SM’s services through the Green SM app, a hotline, or by hailing a vehicle on the street. Pricing is based on time and distance traveled.
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Market Competition
L.A.’s ride-hailing market is saturated with services like Uber, Lyft, and autonomous vehicles. However, Green SM‘s U.S. CEO Hoang Thanh Hang said that the company’s quality of service and intentional customer interactions will help it stand out.
The company is deploying 500 EVs in L.A. to start out, and 500 full-time drivers have been specially trained by the company. This could provide an interesting way for people to experience VinFast vehicles, which could help bring awareness to an automaker that has sold well in other countries but hasn’t quite taken off in the United States.
Impact on VinFast
VinFast has shown a commitment to building a presence in the United States, but its vehicles still aren’t selling well. According to Automotive News, only 389 VinFast vehicles have been registered in the United States from January to July 2024. Green SM’s services could be a solid temperature check for the company on public perceptions after riding in a VinFast vehicle.
