Vingroup achieves green transformation with VinFast and sustainability

Vingroup, a major Vietnamese conglomerate, is promoting sustainable development through its electric vehicle unit VinFast and environmental protection measures in its diversified business operations. These efforts reflect Vingroup’s commitment to reducing environmental impact while contributing to Vietnam’s green transformation.

VinFast: A key contributor to electric mobility

Founded in 2017, VinFast initially produced gasoline-powered vehicles but shifted its focus to electric vehicles (EVs) in 2021. This focus aligns with the company’s goal of promoting sustainable transportation. VinFast has developed seven all-electric models, as well as e-buses, e-scooters and e-bikes. The company has also expanded its international presence and built charging infrastructure across Vietnam.

In 2023, VinFast delivered 34,855 electric vehicles, helping to reduce approximately 152,000 tons of CO2 emissions. In September 2023, VinFast became the best-selling car brand in Vietnam, marking the first time that an electric car brand led the country’s car market.

Vingroup integrates its business ecosystem with VinFast’s e-mobility offerings to support the transition to electric vehicles. VinFast owners can enjoy incentives such as free charging, parking discounts and Vingroup property price reductions.

Sustainable practices in Vingroup operations

In addition to VinFast, other Vingroup businesses are also implementing sustainable practices to reduce their impact on the environment:

• wine house: The real estate sector is integrating energy-saving technologies and green spaces into its urban developments to promote eco-friendly living.
• Pearl Island: The hotel division, which operates 45 hotels in 17 provinces, has implemented measures such as collecting rainwater for irrigation and advanced wastewater treatment systems.

Vingroup reported a reduction of nearly 500,000 tons of carbon emissions across its business units in 2023. These reductions reflect the company’s compliance with environmental, social and governance (ESG) principles.

Encourage wider participation in sustainable development

Vingroup’s green initiatives are in line with global efforts to achieve net zero emissions by 2050. While Vingroup’s activities contribute to Vietnam’s environmental goals, the company stressed that the participation of governments, businesses and individuals is needed to achieve long-term sustainable development.

These actions demonstrate how business efforts are making a difference in advancing national and global environmental goals.