GSM’s Electric Taxi Revolution: Disrupting the Market in Southeast Asia
In a recent analysis by Nikkei Asia, the spotlight falls on GSM, the electric taxi brand backed by billionaire Pham Nhat Vuong, as it launches its “Green GSM” service in the Manila metropolitan area of the Philippines with a fleet of 2,500 vehicles. The launch created quite a buzz, with the company’s app being downloaded over 100,000 times within a few hours, according to GSM’s CEO, Nguyen Van Thanh.
Nikkei Asia assesses that GSM’s platform shares similarities with competitors like Singapore’s Grab. However, GSM’s entire fleet consists of electric vehicles, sporting a distinctive cyan exterior. The company also employs professional drivers to enhance the driving experience and improve customer service.
GSM initially commenced its taxi services in Vietnam back in April 2023. The Philippines marks the third country in its expansion, following Laos and Indonesia.
Notably, a report by market research firm Mordor Intelligence, cited by Nikkei Asia, reveals that GSM has captured nearly 40% of the Vietnamese market share in the first quarter of 2025, surpassing Grab’s 36% to take the lead. This rapid growth is believed to be a key factor in the exit of Indonesian giant Gojek from the Vietnamese market last year.
As quoted by the leading Asian publication, GSM’s CEO attributes the appeal of electric vehicles to their lack of fuel odor and engine noise. Additionally, GSM’s electric fleet is praised for its newness and spacious interiors.
Moreover, electric vehicles offer significant cost advantages over gasoline-powered cars. Fuel costs for electric vehicles are 55-60% lower, while maintenance expenses are reduced by 50-60% compared to gasoline cars.
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