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Vingroup Announces Electric Bus Service 'VinBus' With 2020 Launch Date

The non-profit enterprise aims to help develop urban public transport systems and reduce pollution in major cities across Vietnam.

On May 1, Vingroup officially joined the passenger transport industry with the establishment of VinBus Transport Service Limited Liability Company, Tuoi Tre reports. The firm has VND1 trillion (US$43 million) in authorized capital and will start providing services in March 2020 in Hanoi, Hai Phong, Da Nang, Saigon and Can Tho using 100% electric buses. VinBus will reinvest 100% of its profits to improve service quality, promote the system, and expand to introduce modern public transport services, the news source shares.

The company will use 3,000 electric buses manufactured by VinFast, Vingroup's auto manufacturing arm, and a bus factory is currently under construction on Cat Hai Island. VinFast’s signed a contract in August 2018. with Siemens for technology and component supply

VinBus is the conglomerates' next step in their aim in developing environmentally friendly vehicles in general, and electric buses in particular. “Since we first entered the car and scooter production industry, we’ve set the goal to develop and popularize electric vehicles that are environmentally friendly. The public transport service is Vingroup’s next progression in the hope of offering new services and experiences, utilizing advanced technology, forming good habits and a fresh environment,” Vingroup's vice president, Nguyen Viet Quang, told Tuoi Tre in Vietnamese.

Vingroup's sprawling business empire extends to real estate, retail, car production, pharmaceuticals, education and medication. Its retail arm VinCommerce recently acquired the Singaporean convenience store chain Shop & Go and in 2018 Vingroup entered higher education with VinUni and launched the Vsmart smartphone brand.

[Photo via VnExpress]

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