Vietnamese giant VinGroup is all set to enter India's ride-hailing market with its all-electric taxi service, Green SM. The company will officially launch operations in Delhi-NCR on June 5, marking its first major mobility venture in India after introducing its electric vehicle brand, VinFast. The move comes at a time when India's EV cab market is looking for a strong alternative following the troubles faced by BluSmart, creating an opportunity for new players. This is cab-hailing service that will be under the name Green SM, already prevailing in many countries.
What Is Green SM?
Green SM, also known as Green and Smart Mobility (GSM), is an electric ride-hailing company backed by VinGroup, Vietnam's largest private conglomerate. The company was launched in 2023 with a simple strategy: operate a fleet made up entirely of electric vehicles produced by VinFast, VinGroup's EV arm. Since then, it has grown rapidly and has become one of the most recognisable mobility brands in Vietnam.
Unlike Uber and Ola, which primarily rely on driver-owned vehicles, Green SM operates dedicated EV fleets and works with driver partners who use VinFast vehicles. The company positions itself as a premium, environmentally friendly mobility service focused on comfort, reliability and zero tailpipe emissions.
Who Is VinGroup?
Founded by Vietnamese billionaire Pham Nhat Vuong, VinGroup is one of Southeast Asia's largest business groups. The company has interests across real estate, healthcare, education, technology, electric vehicles and mobility services.
Its automotive division, VinFast, has become Vietnam's largest EV manufacturer and is currently expanding into international markets including India, Indonesia and the Philippines. The group has also invested heavily in charging infrastructure through V-Green and mobility solutions through Green SM, creating an integrated EV ecosystem.
How Successful Is Green SM Globally?
According to industry reports, Green SM has emerged as the country's largest ride-hailing platform, overtaking established rivals such as Grab. The company held more than 54 % market share in Vietnam during the first quarter of 2026 and has remained the market leader for over 18 consecutive months. It also ranked highly in customer satisfaction, trip volumes and daily revenue generation.
Other market studies show that Green SM captured around 40 % of the ride-hailing market by mid-2025, surpassing Grab's market share in one of Southeast Asia's most competitive mobility markets.
Its success has also contributed significantly to VinGroup's broader EV strategy. Green SM became a major customer for VinFast vehicles, helping the automaker increase production volumes and EV adoption across Vietnam.
The company currently operates or has announced operations in countries such as Laos, Indonesia and the Philippines. In Indonesia, Green SM promotes itself as the country's first fully electric taxi platform and operates exclusively with VinFast EVs. The company has also entered strategic partnerships and fleet expansion programs across Southeast Asia.
India is expected to become one of Green SM's most important overseas markets due to the country's rapidly growing demand for electric mobility solutions.
What Will Green SM Offer In India?
Green SM will begin operations in Delhi-NCR before expanding to other major cities. Reports suggest that the company will use a fleet consisting primarily of VinFast electric vehicles, including the upcoming Limo Green electric MPV, which has been developed specifically for fleet and mobility applications. Some reports also indicate that the VinFast VF 5 electric SUV could be part of the fleet.
The company is expected to position itself as a premium EV taxi service focused on clean transportation, passenger comfort and predictable pricing. Early reports suggest Green SM could deploy around 1,000 vehicles during its initial rollout phase in Delhi-NCR.
The opportunity is significant, but challenges remain. On one hand, India has a massive ride-hailing market dominated by Ola, Rapido and Uber. The absence of BluSmart from several markets has also created room for a dedicated EV-focused operator. Green SM's fully electric fleet, integrated ecosystem and operational experience in Vietnam could help it differentiate itself.
However, India is a far more competitive and price-sensitive market than Vietnam. Green SM will need to build a strong charging network, attract drivers, maintain fleet quality and offer competitive fares to gain market share. Success in Vietnam does not automatically guarantee similar results in India, but the company's track record suggests it has the resources and experience to become a serious challenger.
