Vingroup Charges Towards Sustainability with VinFast and Green Initiatives

HANOI, VIETNAM - Media OutReach Newswire - 12 October 2024 - Vingroup is leading Vietnam's green transition with VinFast, its electric vehicle company, and a range of eco-friendly initiatives across its diverse businesses.

This commitment to sustainability positions Vingroup as a key driver in the race towards a greener future for the nation.

The green transformation has become one of the defining challenges of our time. Countries around the globe are pushing toward the shared goal of zero emissions, or net zero, by 2050, but this race demands a whole-of-society approach that involves both the public and private sectors. Within this context, large enterprises stand out as critical players, shaping a sustainable future through their influence and actions.

In Vietnam, one corporation is at the forefront of this green transition: Vingroup. With its expansive presence across multiple industries, Vingroup exemplifies corporate environmental responsibility, driven not by hollow promises but by concrete actions. Its efforts serve as a powerful example of the role corporations must play in advancing the green agenda.

Vingroup's Green Commitment: A Comprehensive Approach

Vingroup is no stranger to the opportunities and challenges presented by green transformation. Its diversified business ecosystem spans key sectors such as automotive, real estate, and tourism—industries that typically carry a significant environmental impact. However, Vingroup has not merely adjusted its operations for compliance; instead, it has embedded sustainability deeply into its corporate DNA. This commitment to green transformation is visible across nearly every aspect of the Vingroup empire.

One of the clearest examples of Vingroup's leadership in Vietnam's green transition is VinFast, its electric vehicle (EV) division. Initially launched in 2017 as a conventional gasoline vehicle manufacturer, VinFast pivoted in 2021 to focus exclusively on electric vehicles. The decision to embrace electric vehicles was not simply a financial move. Vingroup's chairman and VinFast founder, Pham Nhat Vuong, once revealed the deeper motivation behind this change: "[We created VinFast] because we feel the need to contribute to society, not just to do business."

Staying true to this vision, VinFast quickly developed seven fully electric vehicle models, along with e-buses, e-scooters, and e-bicycles. The company has expanded its reach into international markets, while also building an extensive charging network across Vietnam to accommodate its growing customer base. In 2023 alone, VinFast delivered 34,855 electric vehicles, contributing to a reduction of 152,000 tonnes of CO2 emissions.

VinFast's rapid success is no accident—it reflects Vingroup's strategic ability to integrate its larger business ecosystem into the EV market. By offering incentives such as free charging, discounted parking, and significant price reductions for VinFast EV owners at Vingroup properties or using their services, the corporation has made going green truly beneficial for consumers.

Just this week, VinFast reached a new milestone by becoming the top-selling car brand in Vietnam for September. This also marks the first time an electric vehicle brand has led the Vietnamese market, representing a significant advancement for both the domestic automotive industry and the country's journey toward greener transportation.

Green Efforts Across Vingroup's Ecosystem

VinFast is far from the only part of the Vingroup conglomerate making significant strides toward sustainability. Other subsidiaries within the "Vin" ecosystem are also working to reduce their environmental impact and promote sustainable living.

For instance, Vinhomes, Vingroup's real estate arm, has made substantial efforts to foster green urban living. Vinhomes' eco-friendly properties are designed with sustainability at their core, featuring energy-efficient technologies and green spaces that create a harmonious balance between urban development and nature.

Likewise, Vinpearl, Vingroup's hospitality and entertainment brand, has fully embraced its role in promoting sustainability. With 45 properties spread across 17 provinces, Vinpearl has implemented a range of energy-efficient measures, such as rainwater harvesting systems for irrigation and advanced wastewater treatment solutions that meet international standards. These efforts have earned Vinpearl a reputation as a collection of "green paradises," recognized by guests and local communities alike.

And there are many more examples, all of which yield real-world results. In 2023 alone, Vingroup's total carbon emissions reduction across its ecosystem neared 500,000 tonnes[1], underscoring the company's commitment to environmental, social, and governance (ESG) principles.

But while Vingroup's contributions to Vietnam's green transition are undeniably impressive, they serve a broader purpose: inspiring collective action. Achieving net zero emissions is a monumental task that no corporation, government, or individual can accomplish alone. The journey toward a sustainable future demands active participation from all—individuals, communities, and multinational corporations alike. Vingroup's leadership in green initiatives stands as a powerful reminder of the positive changes we can create when we truly commit our efforts to a greener, more sustainable world.



Hashtag: #Vingroup #VinFast


https://vingroup.net/en

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

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