Green SM Indonesia and Bank Central Asia (BCA) on Friday announced the signing of a five-year investment loan agreement with a total value of 600 billion rupiah ($35.3 million), marking the formalisation of a long-term financial partnership between the two parties.
The investment loan facility is intended to support Green SM Indonesia’s operational readiness and service continuity. The facility provides a stable financial structure to underpin the company’s disciplined growth approach and support consistent service delivery across its existing urban operations.
The agreement builds on earlier cooperation between the two parties, which began with Green SM’s market launch in Jakarta in December 2024.
Since then, BCA and Green SM Indonesia have collaborated on customer-focused programmes and initiatives to improve service accessibility and raise awareness of environmentally responsible transportation solutions.
The transition from cooperation activities to a formal financing arrangement reflects the maturation of this partnership and BCA’s support in Green SM Indonesia’s operational model and governance standards.
“This agreement reflects our approach to supporting businesses with a long-term outlook. Sustainable transportation is increasingly important to Indonesia’s urban development. Through this cooperation, we support initiatives that align with long-term economic resilience and environmental responsibility,” said Denny Haryanto, SVP Corporate Banking BCA.
“The investment loan agreement reflects recognition of the disciplined operating model and long-term development orientation that Green SM Indonesia has pursued since its early stages. The facility further strengthens the company’s financial foundation, supporting stable and consistent service delivery across the cities where it operates.”
Founded in 2023 by Vingroup and VinFast head Pham Nhat Vuong, GSM runs Vietnam’s largest all-electric taxi fleet.
In Southeast Asia, Green SM operates in Indonesia; under the name Xanh SM in Vietnam and Laos; and as Green GSM in the Philippines.
