V-Green has partnered with Prime Group to develop 100,000 VinFast charging stations in Indonesia while Prudential is reportedly considering selling its stake in Eastsprings.
V-Green, Prime Group to develop charging stations in Indonesia
V-Green, an EV-charging firm founded by VinFast founder Pham Nhat Vuong, has partnered with conglomerate Prime Group to develop a network of charging stations for VinFast EVs in Indonesia, according to an announcement.
The two companies plan to develop approximately 100,000 VinFast charging stations in the archipelago over the next three years, with a projected total investment of up to $1.2 billion.
The first phase of the development will see charging stations being put up in Jakarta, Surabaya, Bali, and surrounding areas. It will be expanded to other regions of Indonesia in subsequent phases.
The development of the charging stations will start in January 2025, per the announcement.
V-Green spun off from VinFast’s charging station development division. It focuses on investing in the development of a comprehensive charging infrastructure system that prioritises supporting VinFast vehicles.
Prudential said to weigh Eastspring stake sale
Global financial services major Prudential Plc is weighing options for its asset management arm Eastspring Investments, according to a Bloomberg report.
The plan reportedly includes selling a minority stake that could reportedly value Eastspring, Prudential’s Asian investment management arm, at about $3 billion.
Aside from the stake sale, Prudential is also considering selling about 30% of Eastspring and forming a partnership that would help it diversify into private credit and dollar-denominated assets, among others.
As of the end of September, Eastspring had $271 billion in funds under management and a presence in 11 Asian markets. In May, Eastspring appointed Yap Siok Hoon as the CEO of its Malaysia business.
