Vietnam-based electric mobility company Green SM has infused ₹152.65 crore into its Indian subsidiary as it looks to strengthen its presence and expand its electric vehicle (EV) ride-hailing operations in the country. The latest investment highlights the company’s growing ambitions in India’s electric mobility market, where demand for sustainable transportation and app-based taxi services continues to increase.
According to regulatory filings accessed by Entrackr, the board of GREEN SM INDIA PRIVATE LIMITED approved the allotment of 15.27 crore equity shares at ₹10 each to its parent company, GSM Green and Smart Mobility Joint Stock Company. Through this rights issue, the Vietnamese mobility company raised ₹152.65 crore for its Indian business.
This is the second major capital infusion by Green SM into its Indian subsidiary in 2026. The company had previously invested ₹85 crore in June 2026. With the latest investment, Green SM’s total capital commitment to its Indian operations has reached approximately ₹238 crore.
The fresh funding will primarily support the company’s existing operations and expansion plans in India. It is expected to help Green SM increase its electric vehicle fleet, strengthen its operational capabilities and expand its ride-hailing network as it looks to establish a stronger position in the country’s rapidly evolving EV mobility sector.
Green SM Expands Its Presence in India’s EV Mobility Market
Green SM entered the Indian market in June 2026 with the launch of Green SM Limo, a fully electric taxi service initially targeting the Delhi-National Capital Region (NCR). The company introduced its services with an electric vehicle-based fleet, offering passengers an alternative to conventional petrol and diesel-powered taxis.
The service operates using VinFast Limo Green electric vehicles, a seven-seater electric SUV developed for passenger transportation. The vehicles are designed to serve multiple mobility requirements, including daily commuting, business travel and airport transfers.
Green SM’s entry into India represents an important step in its international expansion strategy. The company is the electric mobility arm of Vietnam-based conglomerate Vingroup and was established in April 2023. Since its launch, Green SM has expanded its operations across several international markets, including Vietnam, Laos, Indonesia, the Philippines, India and Kazakhstan.
Company-Owned EV Fleet Model Sets It Apart
One of Green SM’s key differentiators is its company-managed electric vehicle fleet model. Unlike traditional ride-hailing platforms such as Ola, Uber and Rapido, which primarily connect independent driver-partners with passengers, Green SM operates through a dedicated electric vehicle fleet under its management.
This approach allows the company to exercise greater control over vehicle quality, driver training, maintenance, charging operations and customer service standards.
The business model also resembles the approach previously followed by Indian electric mobility startup BluSmart, which discontinued its ride-hailing operations in 2025. Green SM is looking to address the opportunity created by BluSmart’s exit while building its own position in the premium electric taxi segment.
Fresh Investment to Support Long-Term Growth
The additional ₹152.65 crore investment provides Green SM with further financial resources to scale its Indian operations. Expanding its fleet and ride-hailing network will be important as the company competes with established mobility platforms and works towards increasing the adoption of electric taxis.
India’s growing urban transportation requirements, rising interest in electric vehicles and increasing focus on reducing vehicular emissions present opportunities for dedicated EV mobility operators.
With nearly ₹238 crore invested in its Indian subsidiary, Green SM is signalling its long-term commitment to the Indian market. The latest capital infusion could play an important role in expanding its fleet capacity, improving operational infrastructure and strengthening its presence in India’s competitive electric ride-hailing industry.
As the country’s EV ecosystem continues to develop, Green SM’s expansion will be an important development to watch in the electric commercial mobility and ride-hailing segment.
