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Mordor Intelligence has released a market research report on Vietnam’s ride-hailing market for Q1 2026. The report shows that Green SM (formerly Xanh SM) remains the leading player in Vietnam’s technology-enabled taxi ride-hailing market, with a 54.51% market share in Q1 2026. The company widened its gap versus the two next competitors: Grab at 40.92% and be at 4.57%.
The findings also indicate that Green SM has maintained its top position in Vietnam’s taxi ride-hailing market for an 18-month streak. The report further ranks Green SM highest across multiple performance measures, including service quality, network coverage, number of trips, and daily average revenue.
On April 13, GSM Joint Stock Company for Green Mobility and Smart Transport changed the electric taxi brand Xanh SM to Green SM, aligning the branding globally.
In April 2025, Green SM launched the Green SM Platform shared-economy model in its first two international markets: Indonesia and the Philippines.
The report notes that Vietnam’s four-wheeled ride-hailing market continued to grow positively in Q1 2026. Gross merchandise value (GMV) reached USD 580.71 million, equivalent to 153.26 million trips.
It also highlights that electric and hybrid vehicles accounted for 58.34% of transaction value during the quarter.
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