Xanh SM, the all-electric ride-hailing service from Vingroup, has emerged as Vietnam’s top taxi operator, surpassing Grab with a 37.41% market share in Q4/2024, as per Mordor Intelligence’s annual report. This achievement underscores a transformative shift towards smart, sustainable transportation in the region.
The ride-hailing sector is on a rapid growth trajectory, with a projected compound annual growth rate (CAGR) of 22.7% between 2025 and 2030—outpacing the 4.72% growth seen during the COVID-19 period (2020-2024). Xanh SM has set new benchmarks in service quality, technological innovation, and customer experience, solidifying its leadership in Vietnam’s evolving mobility landscape.
Tech-Driven Green Mobility
Xanh SM integrates cutting-edge EV technology from VinFast to deliver a seamless, zero-emission ride experience. Its AI-enhanced ride-matching algorithms optimize efficiency, reducing wait times while maximizing energy efficiency. In 2024 alone, Xanh SM helped cut approximately 150 million kilograms of CO₂ emissions—the environmental equivalent of planting over 2,300 hectares of forest.
Customer loyalty is another key factor in its success. A 2024 Q&Me survey revealed that 83% of Xanh SM users expressed high satisfaction, with 84% willing to recommend the service over traditional ride-hailing options. Xanh SM’s tech-driven approach, combined with its commitment to sustainability, gives it a competitive edge.
Scaling Beyond Vietnam
With VinFast expanding its EV footprint globally, Xanh SM is well-positioned for potential international growth. As Southeast Asia embraces electrification, the demand for high-quality, smart ride-hailing solutions is set to increase, making Xanh SM a strong contender for regional expansion. And considering the transportation situation in countries like the Philippines, could Xanh SM be that one company to equal or surpass Grab?
About Xanh SM
Xanh SM is Vietnam’s leading electric ride-hailing service, offering a tech-driven, eco-friendly alternative to traditional transportation. Backed by Vingroup and VinFast’s advanced EV technology, Xanh SM is redefining mobility through innovation and sustainability. For more information, visit https://www.xanhsm.com/vi-EN.
