Nguyen Van Thanh founds AVES electric vehicle startup

Nguyen Van Thanh, the former CEO of Green SM, has announced the founding of AVES, a Vietnamese technology and green energy startup. Established on September 9, 2026, with a charter capital of 30 billion VND, the Hanoi-based company is led by Thanh, who holds an 85% stake.

AVES focuses on the research, development, and production of clean energy products, including electric bicycles, electric motorbikes, three-wheeled electric vehicles, renewable energy solutions, and smart technology devices. The company aims to launch its products by mid-2027.

Thanh, who was recognized in the Forbes ‘30 Under 30 Asia’ list in 2022, resigned from Green SM in June for personal reasons after leading the company for over three years. His new venture enters a growing market; in the first seven months of this year, electric motorbike sales in Vietnam exceeded 500,000 units, representing nearly 28% of the industry's market share.