Xanh SM, Vietnam’s pioneering electric ride-hailing service under Vingroup, has claimed the top spot in the country’s competitive taxi market. Backed by VinFast’s advanced EV technology, Xanh SM secured a dominant 37.41% market share in Q4/2024, surpassing Grab’s 36.62%, according to Mordor Intelligence’s annual market report.
This milestone highlights a broader regional shift towards sustainable mobility, with ride-hailing services expected to grow at a compound annual growth rate (CAGR) of 22.7% from 2025 to 2030—significantly faster than the 4.72% CAGR recorded during the pandemic years (2020-2024). Xanh SM stood out in key areas such as service quality, geographic coverage, and customer satisfaction, further solidifying its leadership.
Driving Sustainable Urban Mobility
Xanh SM’s 100% electric fleet not only offers a greener alternative to traditional taxis but also makes a significant impact on reducing carbon emissions. In 2024 alone, the company’s operations led to a reduction of approximately 150 million kilograms of CO₂ emissions, equivalent to planting over 2,300 hectares of forest.
Customer demand for sustainable transportation is also rising. A 2024 survey by Q&Me found that 83% of Xanh SM customers were satisfied with its services, while 84% were willing to recommend the brand to others—outperforming traditional competitors across service quality, reliability, and eco-friendliness.
Expanding the Future of Green Ride-Hailing
Xanh SM’s success in Vietnam, combined with VinFast’s global expansion in the EV market, opens the door for potential regional growth. As Southeast Asia continues its transition to greener mobility solutions, Xanh SM is well-positioned to extend its innovative ride-hailing services beyond Vietnam. With this in mind, could Xanh SM be a worthy challenger for Grab, especially in the Philippines?
About Xanh SM
Xanh SM is Vietnam’s premier electric ride-hailing service, dedicated to sustainable, high-quality transportation. Launched by Vingroup, the parent company of electric vehicle manufacturer VinFast, Xanh SM is revolutionizing urban mobility through eco-friendly and customer-centric solutions. For more details, visit https://www.xanhsm.com/vi-EN.
