(March 6): Vietnam’s richest man Pham Nhat Vuong handed the reins of his EV taxi company Green & Smart Mobility JSC to his wife, Pham Thu Huong, who has been named chairwoman of the business, according to news website VnExpress.
The appointment comes as GSM, known domestically as Xanh SM, weighs an international initial public offering that could value the company at about US$20 billion ($25.6 billion).
GSM, which deploys electric vehicles produced by Vuong’s VinFast Auto Ltd, is a leading Vietnamese ride-hailing operator plotting aggressive overseas expansion. GSM has moved beyond its borders into Laos, Indonesia and the Philippines, and is expected to enter India, where VinFast recently opened an EV manufacturing facility.
GSM is 95%-owned by Vuong. Huong replaces Phan Thanh Long, who will stay on as CEO of GSM, according to the report, which cited the company.
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