Vinasun invests heavily in 1,200 Hybrid cars, promises to launch an unmatched line: Will it save the lost market share?

VinaSun (VNS), a leading taxi company in Vietnam, announced a Q1 2025 profit of only 14 billion VND, the lowest since Q2 2022. The company’s market share has significantly declined due to strong competition from ride-hailing apps like Grab, Be, and Xanh SM. In response, VinaSun is investing 800 billion VND in 1,200 hybrid cars, which combine gasoline and electric engines. The company hopes this move will enhance operational efficiency and fuel savings. However, some shareholders express concerns over the cost pressures of hybrid investment as VinaSun’s financial performance remains unimproved. The choice of hybrid over electric cars is justified by the lack of charging infrastructure. Experts believe VinaSun needs to quickly adjust its strategy to remain viable in an increasingly competitive market.