By Sophie Lindqvist

Green SM, the Vietnamese electric taxi operator backed by the Vingroup ecosystem, has secured a Karnataka aggregator licence and is preparing to enter Bengaluru and Chennai, raising the competitive stakes in two of India's largest ride-hailing markets. The company reports more than 15 lakh (1.5 million) completed rides across India in its first five months of operation. That figure is self-reported; Green SM has disclosed no revenue, utilisation or profitability data to support it.

The expansion follows the operator's debut in Delhi-NCR on June 5, 2026, where it launched its Green SM Limo service with a fleet of VinFast Limo Green electric multi-purpose vehicles (MPVs, vans designed for passenger transport). A subsequent launch in Hyderabad extended its footprint. Aggregator licences — permits allowing platforms to connect drivers with passengers — are now held in Delhi, Haryana, Uttar Pradesh and Karnataka.

What does the expansion actually confirm?

Less than the headline suggests. Green SM has confirmed its intent to enter both cities but has announced neither launch dates nor fleet sizes for either market. Local reports point to a Bengaluru start in late November or early December 2026; that timeline is unconfirmed by the company. The Tamil Nadu licence required for Chennai has not been approved, and no date is pending.

The company's current and planned footprint:

• Delhi-NCR — operational since June 2026
• Hyderabad — operational
• Bengaluru — planned; Karnataka licence secured
• Chennai — planned; launch date and state licence pending

The six jurisdictions touched by the footprint are Delhi, Haryana, Uttar Pradesh, Telangana, Karnataka and Tamil Nadu.

The numbers behind the milestone

The claimed 15 lakh rides over five months imply an average exceeding 3 lakh (300,000) rides per month — a simple division of the company's total, not a disclosed operating metric. The milestone suggests dedicated electric fleets can attract demand in major metros. It does not, on its own, evidence a viable business. Green SM has not disclosed sufficient financial or utilisation data for an independent assessment of profitability.

The fleet relies on the VinFast Limo Green, a purpose-built seven-seater electric MPV. Published specifications include a 60.13 kWh usable battery, a claimed 512 km range under the MIDC test cycle (India's official mileage standard), 150 kW maximum power, 280 Nm torque, front-wheel drive, a 2,840 mm wheelbase, 180 mm ground clearance, and DC fast charging from 10 to 70 per cent in roughly 30 minutes. Claimed range figures, it should be noted, routinely exceed real-world commercial results, particularly for loaded taxis in urban traffic.

The ₹8 per kilometre dispute

The announcement also addresses recent reports that Green SM offers rides at ₹8 per kilometre. The company has rejected the figure as inaccurate and stated that fares will follow applicable local transport regulations, including government-notified structures. Passengers can view the applicable fare in the mobile app before booking.

The published Limo fare structure varies by city, with distance-based slabs, and the final amount depends on discounts, tolls and surcharges. The ₹8 figure, therefore, is not an official standard fare.

Resistance in Bengaluru

Not everyone welcomes the entry. Sections of Bengaluru's existing driver community oppose the rollout, with taxi associations raising concerns about competition, driver earnings, vehicle registrations and the regulatory approval process. Driver representatives have questioned whether the company fulfils all vehicle and operational requirements. Karnataka transport officials maintain the aggregator licence was granted only after prescribed requirements were met.

The friction is structural. Unlike Uber, Ola, Rapido or Namma Yatri, which connect passengers with independent drivers, Green SM deploys company-controlled vehicles — a centrally managed fleet model that competes directly with driver-owned taxis.

What does this change for drivers and VinFast?

Green SM says it intends to create "thousands of earning opportunities" for drivers across current and future markets, offering training, customer-service development, operational support and welfare programmes, plus possible dedicated airport pickup facilities. It has not announced specific employment figures, city-wise recruitment targets or fleet deployment plans for either new market. The promise is real; its scale is unspecified.

For VinFast, the expansion creates a dedicated fleet channel for the Limo Green in India's commercial EV segment. Whether that translates into meaningful vehicle sales beyond internal procurement is unclear and, as the source analysis itself concedes, will need closer monitoring.

The economics remain the open question. Electric fleets can cut energy and maintenance costs, and taxis cover more daily kilometres than private cars, spreading acquisition costs across more revenue. But sustained profitability depends on utilisation, charging costs, downtime, financing and battery degradation over the vehicle's life — none of which Green SM has quantified. Bengaluru and Chennai will test whether an all-electric, company-owned fleet can compete sustainably against established platforms. The licence is secured; the proof is not.