Green and Smart Mobility Plans US and Europe Expansion

Green and Smart Mobility plans to launch electric taxi operations in the United States, Sweden, and the Netherlands by the end of 2026, with additional European expansion scheduled for 2027. The Vietnamese operator intends to use this growth to support international sales for VinFast, the electric vehicle manufacturer that provides GSM's entire fleet.

Owned by VinFast CEO Pham Nhat Vuong and his family, the company is preparing for an initial public offering in Hong Kong in 2028. Advisers have suggested a valuation of approximately $20 billion for the operator. To manage costs, GSM is shifting from a capital-intensive model of company-owned fleets and employed drivers toward a hybrid model within Vietnam.

The expansion comes as VinFast faces challenges in Western markets and has suspended certain assembly plans in India. Meanwhile, Vingroup, the parent company, reported total liabilities of $42.8 billion as of June 2026.