Asia Tech Wire (Mar 18) -- Pham Nhat Vuong, founder of Vietnamese electric car maker VinFast, on Monday announced the launch of V-Green, an electric vehicle charging stations company.

V-Green will build EV charging networks worldwide, prioritizing service for VinFast vehicles.

The 55-year-old richest man in Vietnam, who owns 90% of V-Green, said the company will directly look for land and partners to build and expand charging networks in VinFast's key markets.

VinFast, which went public on the Nasdaq last year and is Vietnam's largest EV maker, has said it will expand to at least 50 countries by 2024.

In Vietnam, V-Green will be responsible for operating and managing VinFast's existing charging network, and will consider expanding charging services to other EV manufacturers after five years of operation.

Vuong said V-Green will spend about $404 million over the next two years on new charging stations and upgrades to the charging network.

Last year, Vuong founded Green SM, an electric cab operator that accounts for 72% of VinFast's 2023 sales.