Green SM: Vietnam’s Electric Taxi Challenging Blue Bird & Owner’s Wealth Revealed

The owner of Vietnamese electric taxi operator Green SM is Phạm Nhật Vượng, also identified as Southeast Asia’s second richest person, according to reporting from Liputan6.com on Wednesday.

The Indonesian news outlet reported that the Transport Ministry of Indonesia has launched an investigative audit into Green SM following a collision involving one of its taxis and a commuter train in East Bekasi on Tuesday. At least 16 people were killed in the crash, according to the report.

Investigation Focuses on Safety Lapses

Transport Minister Dudy Purwagandhi stated that the audit will examine operational, technical, and human resource aspects of Green SM to ensure compliance with safety standards, and procedures.

“We have begun an investigative audit of the green taxi company involved in yesterday’s accident, particularly at the pool where the vehicle was stationed,”

Dudy Purwagandhi said at East Bekasi Station on Wednesday.

Purwagandhi warned that the government would take firm action if serious violations are found.

“We ask for your patience. We will update the media on the audit results, and we will not hesitate to impose sanctions if serious violations are identified,”

he said. The ministry conducted a surprise inspection of Green SM’s Bekasi pool on Tuesday night, followed by a direct inspection by the minister on Wednesday.

Green SM’s Expansion and Vehicle Details

Green SM, operating as Xanh SM in Indochina, is a taxi and ridesharing company in Vietnam that focuses on electric vehicles. According to Wikipedia, the company aims to operate a fleet of 10,000 electric cars and 100,000 electric motorcycles. It began operations in Hanoi in April 2023 and expanded to Laos in the same year, followed by Indonesia in late 2024 and the Philippines in mid-2025.

The company utilizes the VinFast VF e34 electric vehicle, as reported by Medcom.id. The VF e34 is described as a compact electric car that has gained attention in Vietnam, becoming known as ‘Limogreen’ due to its use as a taxi.

According to VnExpress.net, Xanh SM, founded by Phạm Nhật Vượng, increased its charter capital to VND35.5 trillion (US$1.35 billion) in January 2026, a 42% increase.

Competition in the Southeast Asian Market

Green SM is challenging established ride-hailing services in Southeast Asia, including Grab and GoTo Group, particularly in Indonesia, where it aims to have a fleet of 10,000 electric taxis by the end of the year, according to Tech in Asia. Good News From Indonesia reported that Green SM is attempting to compete with Blue Bird, a major taxi operator in the region.

In March 2026, Vietnam’s richest man, Phạm Nhật Vượng, appointed his wife, Phạm Thu Hương, as chair of Green SM, as reported by Bloomberg.