Nguyen Van Thanh, the former chief executive officer of Vietnamese electric ride-hailing company Green SM, has emerged as the controlling shareholder of AVES Technology & Green Energy JSC, a newly registered electric vehicle startup based in Hanoi. The company was incorporated on September 9 with a charter capital of 30 billion dong, equivalent to approximately 1.14 million U.S. dollars. AVES intends to develop and manufacture electric vehicles and plans to introduce its first commercial products in the summer of 2027.
Shareholding and Company Structure
Company registration information shows that Thanh invested 25.5 billion dong, or roughly 1.1 million U.S. dollars, for an 85 percent stake in the venture. Co-founder Le Hoang Long contributed 3 billion dong for a 10 percent holding and serves as AVES chief commercial officer. Trieu Tuyen Hoang contributed 1.5 billion dong for the remaining 5 percent ownership share.
Leadership Experience
Thanh is returning to electric mobility roughly three months after stepping down as CEO of Green SM, the electric ride-hailing business within billionaire Pham Nhat Vuong's Vingroup ecosystem. He joined Vingroup in 2019 and held management positions at VinBus and VinFast before spending more than three years building and running Green SM. Long previously served as CEO of electric two-wheeler maker Pega and as deputy CEO in charge of electric motorcycle sales at VinFast.
Strategic Focus and Initial Products
AVES is targeting three main business areas, namely smart electric vehicles, renewable energy and Internet of Things devices, with electric mobility as its initial commercial priority. The company positions itself as a Vietnamese technology startup focused on clean-energy products including bicycles, electric motorcycles, electric three-wheelers and smart technology devices. Electric two-wheelers are scheduled to be the first products launched to the market in the summer of 2027.
Founder Ambitions
Thanh said he still wanted to challenge himself once again and build something new, starting with ideas that exist only on paper and gradually turning them into real products. The venture marks his return to the electric mobility sector after more than seven years in the Vingroup ecosystem. AVES will leverage his experience and the expertise of its founding team to move from concept development to commercial production.
Research and Development Plans
To prepare for commercial production, AVES plans to establish a research and development centre in Hung Yen province. The centre will be responsible for vehicle research, design, testing and prototype development before the company transitions to manufacturing. AVES has also begun hiring across mechanical engineering, quality control, supplier quality management, logistics and procurement.
Design Competition and Product Direction
Alongside product preparation, AVES is organising the AVES Future Mobility Challenge 2026 with total prizes of 265 million dong to source product and mobility concepts. The competition accepts submissions from September 21 to October 27 and covers application design and concept design categories. Published visuals suggest a potential broader portfolio including scooters, sport-style motorcycles and three-wheel cargo vehicles, although commercial plans currently confirm only electric motorcycles and bicycles.
Industry Context and Market Significance
The new venture gives Thanh another shot at building an electric mobility business after more than seven years within the Vingroup ecosystem. During his time at Green SM, the company expanded to seven countries, served nearly 100 million customers and partners, and created employment for about 250,000 people, most of them full-time workers. His return to the sector highlights growing investor and entrepreneurial interest in Vietnam's electric vehicle market.
With less than a year remaining before its target launch window, AVES is concentrating on team building, product design, testing and production preparation. The startup combines experienced leadership from Green SM, VinFast and Pega with early investment in research and talent acquisition. The coming months will be crucial for completing prototypes and establishing manufacturing capacity ahead of the planned summer 2027 market entry.