Vingroup’s Green Transition Through VinFast and Sustainable Initiatives
Vingroup, a major Vietnamese conglomerate, is advancing sustainability through its electric vehicle division, VinFast, and eco-friendly measures across its diverse business operations. These efforts reflect Vingroup’s focus on reducing environmental impact while contributing to Vietnam’s green transition.
VinFast: A Key Contributor to Electric Mobility
VinFast, established in 2017, initially produced gasoline-powered vehicles but shifted focus exclusively to electric vehicles (EVs) in 2021. This pivot aligns with the company’s goal of promoting sustainable transportation. VinFast has developed seven fully electric models, along with e-buses, e-scooters, and e-bicycles. The company has also expanded its presence internationally and built a charging infrastructure throughout Vietnam.
In 2023, VinFast delivered 34,855 electric vehicles, which helped reduce approximately 152,000 tonnes of CO2 emissions. In September 2023, VinFast became the top-selling car brand in Vietnam, marking the first time an electric vehicle brand has led the country’s automotive market.
Vingroup integrates its business ecosystem with VinFast’s EV offerings to support the transition to electric mobility. Incentives such as free charging, discounted parking, and price reductions at Vingroup properties are provided to VinFast vehicle owners.
Sustainable Practices Across Vingroup’s Operations
Beyond VinFast, other Vingroup businesses are also implementing sustainable practices to reduce environmental impact:
Vinhomes: The real estate division has incorporated energy-efficient technologies and green spaces into its urban development projects to promote eco-friendly living.
Vinpearl: The hospitality arm, which operates 45 properties across 17 provinces, has introduced measures like rainwater harvesting for irrigation and advanced wastewater treatment systems.
In 2023, Vingroup reported a reduction of nearly 500,000 tonnes of carbon emissions across its businesses. These reductions reflect the company’s adherence to environmental, social, and governance (ESG) principles.
Encouraging Broader Participation in Sustainability
Vingroup’s green initiatives align with global efforts to achieve net-zero emissions by 2050. While Vingroup’s activities contribute to Vietnam’s progress toward environmental goals, the company emphasizes the need for participation from governments, businesses, and individuals to achieve long-term sustainability.
These actions demonstrate how corporate efforts can play a role in advancing national and global environmental objectives.
