Vingroup’s electric vehicle (EV) charging station developer V-GREEN has announced the signing of Memorandum of Understanding (MOU) with four strategic partners to deploy approximately 63,000 charging ports in total exclusively for VinFast electric vehicles in Indonesia by the end of 2025, more than double the previously announced target.
V-GREEN said in a statement on Friday that under the agreement, V-GREEN and its four partners, including Chargecore, Chargepoint, Amarta Group, and CVS, will jointly invest a total of $300 million to develop EV charging infrastructure throughout Indonesia, focusing on provinces such as Jabodatebek, Bandung, Surabaya, Makassar, Medan, Batam, Bali, and Kalimantan.
The projects will launch in May 2025, with the first stations scheduled to go online in June.
This collaboration underscores V-GREEN’s commitment to expanding the VinFast EV ecosystem across Southeast Asia and demonstrates the company’s growing credibility and appeal among leading players in the green mobility sector, said the statement.
According to the statement, in 2025 alone, Chargecore plans to invest a minimum of $30 million, while Chargepoint, Amarta Group, and CVS have each committed to becoming charging ports distributors and investing approximately $5.3 million annually.
V-GREEN will directly invest in 20 percent of the stations, while the remaining 80 percent will be implemented through business cooperation contracts (BCC).
Since its entry into the Indonesian market, V-GREEN has operated under the BCC model in partnership with leading reputable local businesses.
The company is offering investors highly attractive terms, including a power purchase rate of 750 rupiah ($0.045)/kWh and a guaranteed annual return of up to 25 percent during the first three years.
These strategic collaborations not only enable V-GREEN to rapidly scale its EV charging network across Indonesia, but also highlight the strong potential of the country’s green transportation sector.
“Partnering with reputable companies in Indonesia marks a significant step in our global EV charging network strategy, especially as we respond to growing demand across Southeast Asia,
“With the support of our strategic partners, we are confident that V-GREEN and VinFast will successfully build a modern green mobility ecosystem that contributes to the region’s and the world’s sustainable development goals,” said Mai Truong Giang, Managing Director of V-GREEN Indonesia.
Meanwhile, John Yan, Co-founder and Chief Executive Officer of Chargecore, shared that this partnership not only delivers strong business results for Chargecore, but also supports the nation’s transition to electric vehicles and a more sustainable future.
Daniel Nguyen, Chief Executive Officer of Chargepoint, also stated that the firm has strong confidence in the growth potential of EVs in Indonesia — a promising market that is undergoing a remarkable transition toward greener transportation.
“As the official distributor of V-GREEN in Vietnam, Chargepoint is proud to continue supporting the expansion of VinFast’s electric mobility ecosystem across Southeast Asia, with Indonesia as our first destination,
“This marks a clear demonstration of our long-term commitment and regional vision as a Vietnamese enterprise in the green transportation sector,” he added.
Established by VinFast’s Founder Pham Nhat Vuong, V-GREEN has built a leading position in Vietnam, operating roughly 150,000 charging ports nationwide.
The company continues to grow its network through partnerships and is actively expanding into international markets.
In Indonesia, V-GREEN targets 50,000 charging stations and 63,999 charging ports in total nationwide by 2025.
As an early step toward that goal, VinFast owners can already charge their vehicles for free at 1,000 V-GREEN-operated stations starting in May.
Currently, VinFast has launched four electric car models—VF 3, VF 5, VF 6, and VF e34—just over a year after entering Indonesia.
The rapid expansion of V-GREEN’s charging network will help meet increasing demand for VinFast EVs in the market, provide convenience to local consumers, and contribute to global sustainable development goals.