“Green SM Dominates the Vietnamese Taxi Market with a 44.68% Market Share.”

This is the third consecutive quarter that this all-electric platform has surpassed Grab and other competitors. Notably, Xanh SM led in all four key criteria: the number of rides, total service revenue, network coverage, and service quality.

According to Mordor Intelligence’s statistics, in Q2 2025, the entire market recorded over 97.9 million rides from traditional and ride-hailing taxis, with a total transaction value of $353.41 million. Xanh SM accounted for the largest share. Xanh SM not only leads in market share but also outperforms its competitors in the number of rides, total service revenue (GMV), network coverage, and service quality.

The foundation for this robust growth lies in the “three-legged stool” model that Xanh SM is implementing. First is the all-electric vehicle fleet with full-time drivers, ensuring uniform quality control across the Xanh SM system. Second is the open Xanh SM Platform, which provides technology, processes, and service standards to connect and operate with individual drivers who own electric vehicles. Third is the partnership with traditional taxi companies transitioning to electric vehicles through the Xanh SM Partner model, where Xanh SM shares technology, management systems, and operational expertise. This model not only optimizes operational efficiency but also lays the groundwork for building a large-scale, sustainable, and feasible green transportation ecosystem.

Currently, Xanh SM is present in 34 provinces and cities, making it the ride-hailing platform with the widest reach in the country. According to Mordor Intelligence data, Xanh SM also achieves a higher average spending per ride compared to the overall market, reflecting customers’ willingness to pay for high-quality services and their appreciation for a stable experience.

According to industry experts, stability is a rare factor in the ride-hailing industry. Xanh SM has accomplished the “impossible task” of rapidly expanding its market share while maintaining consistent service quality. Mr. Le Quoc Phong, a customer experience expert, commented, “The biggest difference with Xanh SM is its ability to create a uniform experience in all three regions of North, Central, and South Vietnam, regardless of whether the user books a ride in a big city or a provincial town. This is something that intermediary connection platforms often struggle to control.”

From the user’s perspective, many customers now consider Xanh SM their first choice for daily commutes. Across different customer segments, from office workers to others, “going Xanh” has become a preferred habit for its reliability and convenience. Ms. Vu Mai Phuong from Hanoi shared, “I’ve been using Xanh SM for over a year. The cars are always clean, the drivers are professional, and there’s none of the chaos I experienced with other brands in the past.”

For many, “going Xanh” equates to peace of mind and indirectly contributes to a greener environment. According to a user survey conducted by Q&Me in late 2024, 83% of customers were satisfied with the Xanh SM electric taxi service, and 84% were willing to recommend it to family and friends. These indicators were particularly high among middle-aged people, women, and families with young children, who prioritize safety and politeness in their travel experiences.

Moreover, each Xanh SM ride creates sustainable value for society. It is estimated that as of April 2025, Xanh SM has helped reduce over 211 million kg of CO₂, equivalent to the absorption capacity of more than 3,200 hectares of forest in a year.

TH (Tuoitrethudo)