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Phan Ngọc Anh Đào- 23DH120406

Phan Diệu Linh- 23DH120956

Tạ Thị Bích Hồng-23DH120658

Đặng Ngọc Kiều Tiên-23DH122949

Võ Đức Nhân-23DH122897

Đỗ Hùng Cường-23DH120296

Mã Hữu Toàn-23DH122240

Nguyễn Thị Ngọc Loan-23DH120993

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Xanh SM is a ride-hailing, delivery, and food service platform utilizing electric vehicles. It is owned by GSM Group, founded by billionaire Pham Nhat Vuong. With a sustainable development strategy and the advantage of VinFast’s electric vehicle ecosystem, Xanh SM is shaping a green e-commerce model in Vietnam.

The Xanh SM app is not only a regular ride-hailing platform but also integrates services like Xanh SM Express (instant delivery) and Xanh SM Ngon (food delivery), aiming to become a green transportation super app.

Xanh SM is not just a transportation solution—it demonstrates how combining sustainability and digital innovation can create real value for society

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II. Analysis Based on the 8 Key Elements of a Business Model

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II. Analysis Based on the 8 Key Elements of a Business Model

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1. Value Proposition

Xanh SM offers 100% electric vehicle services, helping to protect the environment and reduce air pollution in major cities. Additionally, its user-friendly app is fast and easy to use. The integration of multiple services such as ride-hailing, delivery, and food ordering in one platform saves time and enhances convenience for users.

2. Revenue Model

Xanh SM’s revenue mainly comes from three areas: ride-hailing, delivery, and food services. The company also earns from commission fees collected from drivers (around 13–20%). Furthermore, Xanh SM collaborates with brands for advertising and integrates digital payment systems such as VinID and VPoint to enhance user retention and attract new customers.

3. Market Opportunity

Vietnam has a young population, high smartphone usage, and increasing demand for transportation and delivery, especially in big cities. After the COVID-19 pandemic, green living and digital consumption trends have emerged, creating great opportunities for companies like Xanh SM.

4. Competitive Environment

Although the market is highly promising, it is also fiercely competitive. Grab, Be, and Gojek are major competitors in the ride-hailing sector. In the food delivery segment, ShopeeFood and GrabFood dominate market share. In logistics and delivery, AhaMove and GHTK have advantages in speed and coverage. Therefore, Xanh SM must constantly innovate to maintain its position.

5. Competitive Advantage

Electric vehicles are Xanh SM’s biggest differentiator—they reduce fuel costs and appeal to environmentally conscious users. Moreover, leveraging Vingroup’s ecosystem enables the company to expand its customer base and enhance brand recognition effectively.

6. Market Strategy

Xanh SM positions itself as a green, modern, and reliable service. In addition to expanding its driver network, the company frequently updates its app to improve user experience. Its development strategy also includes expansion into Southeast Asian countries such as Laos and Indonesia.

7. Organizational Development

Xanh SM builds a team of professional drivers who are well-trained. Uniforms are standardized, driver behavior is courteous, and driver support systems are clear. The customer care system is also well-invested to ensure timely resolution of feedback.

8. Management Team

As a subsidiary of Vingroup, Xanh SM is led by experienced professionals in technology, logistics, and operations. The leadership team has a long-term vision, committed to innovation, efficiency, and sustainability.

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Xanh SM currently competes with major players like Grab, Be, and Gojek in ride-hailing, and with ShopeeFood and GrabFood in food delivery. Below is a table summarizing key comparative points between platforms:

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Xanh SM is one of the first green operations service providers in Vietnam. Their business model is systematically built on 8 fundamental elements, focusing on technological innovation, user experience and a sustainable environment.

However, to maintain their advantage and expand their market share: they need to improve service quality (stability, waiting time), expand driver coverage in more provinces and cities, and promote their strategy to approach the already competitive food delivery market.

Xanh SM has the opportunity to become the “WeChat of Vietnam’s transportation industry” if they can maintain the pace of innovation, expand their ecosystem and optimize customer experience.

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1.      Báo Điện Tử Chính Phủ. (2024, October 3). Xanh SM vươn ra thế giới, khai trương tại Lào và Indonesia. https://baochinhphu.vn

2.      VnExpress. (2024, May 15). Xanh SM dẫn đầu thị phần gọi xe công nghệ tại Việt Nam quý 1/2024. https://vnexpress.net

3.      Vietnam Investment Review. (2024, June 4). GSM ramps up green transport with electric food delivery service. https://vir.com.vn

4.      Tuổi Trẻ Online. (2024, December 12). Xanh SM ra mắt dịch vụ giao đồ ăn “Xanh SM Ngon” tại Hà Nội. https://tuoitre.vn

5.      Báo Dân Trí. (2024, March 22). Vingroup mở rộng hệ sinh thái xanh qua dịch vụ Xanh SM. https://dantri.com.vn

6.      GSM Company. (2025). Thông cáo báo chí và tài liệu chiến lược nội bộ. https://gsm.green

7.      Statista. (2024). Ride-Hailing Market in Vietnam – Revenue and Forecast 2025–2030. https://www.statista.com

8.      Shopee Vietnam. (2024). ShopeeFood Press Kit – Market Share and Strategy Overview. https://shopee.vn/press

9.      Grab Holdings. (2024). Annual Report and Regional Strategy Summary. https://www.grab.com/sg