A new green player seeks to win fast in cab race

India's ride-hailing market is worth an estimated $2.5 billion, with e-hailing being the largest segment. Established players like Ola and Uber revolutionized the industry by introducing smartphone-based cab booking, replacing the traditional radio-taxi model that relied on call centers. Meru and Mega Cabs were among the early radio-taxi operators, but they struggled to adapt to the aggregator model when traditional companies tried to shift.

Green SM, a Vietnamese electric mobility company, is now entering the Indian market with a unique approach: an all-electric, company-controlled fleet of premium, seven-seat electric MPVs. The company launched Green SM Limo in Delhi-NCR on June 5, starting with around 1,000 electric vehicles and aiming to expand to 10,000 in the region.

Green SM positions itself in the premium segment, focusing on cleaner cars, consistent service, and professional drivers, rather than competing with mass-market aggregators. The company benefits from a close relationship with VinFast, an electric vehicle manufacturer and the driving force behind Green SM, which provides the vehicles and support for maintenance and after-sales service.

Green SM's strategy differs from BluSmart, another electric taxi service that faced regulatory challenges and subsequently shut down, leaving customers with a loyal base used to predictable fares, clean cars, and professional drivers.