Taiwan, Indonesia, & Vietnam Green Energy Companies Invest in Southeast Asia – CleanTechnica

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Indonesia, Vietnam, and the Philippines are finding support in their transition to electric vehicles (EVs) through major investments led by V-GREEN, a subsidiary of VinFast.

This development comes as the two Southeast Asian nations intensify efforts to decarbonize transportation and expand green infrastructure. V-GREEN recently signed a Memorandum of Understanding (MoU) with eTreego, a Taiwanese green energy company, to install 100,000 EV charging portals across Vietnam, the Philippines, and Indonesia by 2030. The collaboration underscores the growing commitment of these countries to sustainable mobility and their ambition to lead the region in EV adoption.

eTreego Chairman Chin Pin Chien emphasized the importance of this collaboration, noting that Southeast Asia presents immense growth opportunities for electric mobility. He highlighted eTreego’s commitment to investing in research and development to support VinFast’s ecosystem while meeting the region’s growing demand for sustainable transportation solutions. Nguyen Thanh Duong, CEO of V-GREEN, echoed this sentiment, expressing confidence in eTreego’s expertise as a catalyst for scaling up their charging infrastructure.

The MoU between the two companies outlines a strategic roadmap for achieving their shared goals. eTreego will serve as the primary supplier of charging station products while also leasing designated locations and facilitating partnerships with local stakeholders. Beyond infrastructure development, the two companies plan to collaborate on initiatives like carbon credit certification for charging stations and expanding VinFast’s supply chain into new international markets. These efforts aim to position Vietnam, Indonesia, and the Philippines as leaders in Southeast Asia’s green transportation revolution.

ASEAN EV expansion 

The Philippines has emerged as a critical market for this initiative due to its recent policy reforms and growing interest in EVs. The Electric Vehicle Industry Development Act (EVIDA) of 2022 has laid the groundwork for EV adoption by providing financial incentives for manufacturers and tax breaks for consumers. However, the country still faces significant challenges, such as limited charging infrastructure and high upfront costs for EVs. V-GREEN’s partnership with eTreego aims to address these gaps by deploying state-of-the-art charging stations across key areas in the Philippines, including Metro Manila. By 2025, V-GREEN plans to introduce its first pilot charging portals in Vietnam before expanding into the Philippines and Indonesia, marking a pivotal step toward building a comprehensive EV ecosystem.

While only around 16,000 EVs were registered in the country as of 2024 — less than 0.1% of total vehicles — registrations have surged annually due to supportive policies and increasing consumer interest. The government has also extended zero-tariff rates on EV imports and partnered with private stakeholders to address infrastructure gaps.

Indonesia also plays a key role in V-GREEN’s regional strategy. A separate agreement with Prime Group aims to deploy approximately 100,000 VinFast charging stations across Indonesia within three years, backed by an investment of up to USD$1.2 billion. Together with its efforts in Vietnam and the Philippines, V-GREEN is building what could become one of Southeast Asia’s most extensive EV charging networks.

In Vietnam, where VinFast has already established itself as a dominant player in the EV market, this initiative aligns with broader national goals to reduce greenhouse gas emissions by 75% by 2030. The country has seen rapid growth in EV adoption, driven by government incentives such as registration fee exemptions and investments in charging infrastructure. However, these incentives are set to expire in March 2025, potentially impacting market demand. The rollout of V-GREEN’s charging stations is expected to mitigate some of these challenges by enhancing accessibility and convenience for EV owners.