Vingroup has set up VinBus, a subsidiary specialising in transport services, the property developer announced on Thursday.

VinBus will use as many as 3,000 electric buses that will be manufactured by VinFast, another Vingroup subsidiary.

VinBus is scheduled to provide its public transport services starting in March next year in five major cities of Viet Nam, including Ha Noi, Da Nang, HCM City and Can Thơ, with a chartered capital standing at one trillion VND (US$43 million).

To meet demand and contribute to the building of a public transport network while reducing pollution and noise, VinBus will use as many as 3,000 electric buses. They will be manufactured by VinFast, another Vingroup subsidiary.

VinFast’s factory for electric buses is under construction. German industrial manufacturing company Siemens will be VinFast’s technology and component provider.

According to Vingroup's Vice Chairman and General Director Nguyen Viet Quang, the conglomerate has set a target of developing and popularising environmentally friendly vehicles which run with electricity to gradually replace those that run on petrol.

It is a significant move to offer new services and hi-tech experiences to passengers.

(Source: VNS)