GSM, Vietnam's VinFast-Backed Taxi Giant, Targets 2028 IPO as Founder Pham Nhat Vuong Sets Timeline

Vietnam's Green & Smart Mobility (GSM), the electric taxi and ride-hailing firm owned by billionaire Pham Nhat Vuong, has set a definitive target for its market debut. Founder Pham Nhat Vuong stated the company plans to launch an initial public offering in the second half of 2028, placing a major milestone on the calendar for one of the country's most closely watched mobility ventures.

GSM is not just another taxi company; it is a strategic extension of the ecosystem built by Vuong's Vingroup, Southeast Asia's largest conglomerate, and is deeply intertwined with the fortunes of electric vehicle maker VinFast. The firm operates a fleet of electric cars and motorbikes, positioning itself at the intersection of Vietnam's green transition and its booming urban transport demand. This IPO plan signals a long-term bet on scaling the business and attracting public market capital after years of foundational growth and investment.

The move places significant pressure on GSM to deliver consistent operational and financial performance in the lead-up to 2028. Success or failure will be scrutinized as a barometer for both Vuong's ambitious conglomerate strategy and the viability of large-scale electric mobility services in Vietnam's competitive market. The timeline also sets the stage for potential pre-IPO funding rounds and strategic partnerships as the company builds its narrative for public investors.