Green-Smart-Mobility Joint Stock Company (GSM), Vietnamese tycoon Pham Nhat Vuong’s newly founded business, has announced the fees for its electric vehicle (EV) rental and taxi services which will use VinFast electric cars and scooters.

GSM was established earlier this month by Vuong, chairman of Vietnamese conglomerate Vingroup, with a charter capital of VND3 trillion (US$126 million).

The new firm is set to launch operations in Hanoi next month using 10,000 electric cars and 100,000 electric scooters produced by Vingroup’s automaking arm VinFast.

According to a price list GSM recently sent to its corporate customers, VinFast models VF e34, VF5, and VF8 Eco will be used for GSM’s rental and taxi services. GSM also noted that there will be a mileage allowance of 2,500km for these services.

The monthly rate to rent a VF e34 is VND11 million ($464), the EV batteries for the vehicle cost VND3.16 million ($133) per month to rent, and drivers will be charged VND1,265 (5 cents) per kilometer over 2,500km.

The VinFast VF5 model will cost renters a monthly fee of VND9.5 million ($401) for the vehicle and VND2.7 million ($113) for the battery. Drivers will be charged VND1,082 (4 cents) for every kilometer over 2,500km.

Those who rent the VinFast VF8 Eco will need to pay VND20 million ($848) per month plus VND4.64 million ($197) for the EV battery. The cost for per kilometer over 2,500km is VND1,850 (7 cents).

The company has yet to announce fees for individual customers.

GSM general director Nguyen Van Thanh said GSM plans to further improve Vietnam’s green and smart transportation system by offering more electric vehicle services to local residents at reasonable prices.

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