Key facts
- GSM launched its electric taxi service in Los Angeles, its first North American market.
- The company operates in Vietnam, Laos, Indonesia, the Philippines, India, Kazakhstan, Denmark, and the Netherlands.
- GSM plans to purchase up to 1 million VinFast electric vehicles between 2026 and 2030.
- GSM is preparing for a Hong Kong listing with a pre-IPO phase potentially starting this year.
- Vietnamese brokerage VNDirect estimated GSM generated about $1 billion in gross merchandise value in 2025.
Green and Smart Mobility (GSM), a Vietnamese electric taxi operator and partner of VinFast, launched its ride-hailing service in Los Angeles on Wednesday, marking its entry into the North American market. This expansion is part of GSM's strategy to grow beyond Asia and Europe.
GSM currently operates in nine markets, including Vietnam, Laos, Indonesia, the Philippines, India, Kazakhstan, Denmark, and the Netherlands. The company had previously announced plans to deploy fleets in the US, Sweden, and the Netherlands by the end of 2023, with further expansion into other European markets anticipated in 2027.
GSM is controlled by Pham Nhat Vuong, the founder of VinFast, and his family. The company has stated its intention to purchase up to 1 million VinFast electric vehicles between 2026 and 2030. GSM is also preparing for a listing in Hong Kong, with a pre-IPO phase that could commence this year, following advisers' suggestions of a valuation around $20 billion.