Vietnamese electric vehicle ( EV ) charging station developer and VinFast spin-off company V-Green has signed a memorandum of understanding with four strategic partners to deploy approximately 63,000 charging ports exclusively for Vietnamese carmaker’s VinFast electric vehicles in Indonesia by the end of 2025, more than double the previously announced target.

This collaboration, the company says, underscores its commitment to expanding the VinFast EV ecosystem across Southeast Asia and demonstrates its growing credibility and appeal among leading players in the green mobility sector.

Under the agreement, the company and its four partners – Chargecore, Chargepoint, Amarta Group and CVS – will jointly invest a total of US$300 million to develop EV charging infrastructure throughout Indonesia, focusing on provinces like 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.

In 2025 alone, Chargecore plans to invest a minimum of US$30 million, while Chargepoint, Amarta Group and CVS have each committed to becoming charging ports distributors and investing approximately US$5.3 million annually. V-Green will directly invest in 20% of the stations, while the remaining 80% will be implemented through business cooperation contracts ( BCCs ).

Since its entry into the Indonesian market, V-Green has operated under the BCC model in partnership with leading reputable local businesses. The company, it points out, is offering investors highly attractive terms, including a power purchase rate of 750 rupiah per kilowatt-hour and a guaranteed annual return of up to 25% during the first three years.

These strategic collaborations, the company shares, not only enable it 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,” adds Mai Truong Giang, V-Green’s managing director for Indonesia. “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.”