EBOOST – ASSIST

Investing in Impact

P4G has awarded the partnership about US $350,000 in grant funding. 

Vietnam’s EV market is poised for growth and the country is the largest electric two-wheeler market in the ASEAN region. But similar to all emerging EV markets, charging networks are limited. Riders need accessible charging solutions that work for all electric vehicle types and that they can access at home and in public. 

EBOOST will build and maintain a smart and open electric vehicle (EV) charging network across Vietnam. EBOOST charging stations will allow vehicle owners, regardless of brand, to charge their electric bikes or cars at their homes or workplaces. EBOOST will focus on setting up stations in or around multi-unit residential or commercial buildings, but also targeting hotels, schools, factories or larger shared parking areas in general. 

EBOOST will generate revenue through its Charging-as-a-Service model. It will enter multi-year exclusive contracts with those locations. Under this agreement the location will provide the space and the access to power. EBOOST will operate charging stations and pay the location quarterly administrative fees and a shared percentage costs for the right to occupy the space and operate the service. Users charging their vehicles at EBOOST charging points will pay the company an activation fee and charging service fee. 

In addition to strengthening the country’s charging infrastructure, EBOOST will work with the nonprofit ASSIST to accelerate the country’s enabling environment for electric vehicles. It will specifically focus on policy improvement and guidance around setting up EV infrastructure in or around multi-unit buildings. 

Between April to June 2024, EBOOST has showcased its innovations at AutoTech and Tech in Asia exhibitions, while also conducting technical testing and training at Vietnamese coffee shops, buildings and factories. EBOOST has expanded to 167 locations with 1,590 charging points, up from 100 locations at the beginning of the funding period. EBOOST held meetings with MG (an e-car original equipment manufacturer) and FPT Shops (a technology retail chain) to forge new partnerships and boost network utilization. The “Green Promo” and “Summer Promo” campaigns successfully attracted new customers and increased charging frequency. EBOOST now has 5,000 registered EV users, up from 574, with plans to further increase active user rates. 

In April 2024, the EBOOST – ASSIST partnership attended a kickoff meeting in Hanoi with representatives from P4G Hub, the World Resources Institute, the Vietnam National Platform (MPI, VCCI), the Danish and Dutch governments, and various startups and investors. The event focused on policy contributions and potential collaborations. 

In June 2024, EBOOST joined the Ministry of Science and Technology’s “Investment Policy for Startups” discussion to explore investment policies with startups, investors and government officials. The partnership also participated in the Climate Finance for Transport Vietnam seminar, discussing barriers and solutions for climate finance in green mobility. 

In August 2024, EBOOST co-organized the Green Energy Transition Showcase, funded by P4G and hosted with ASSIST, Alternō and Stride. The event, which attracted over 180 participants, focused on renewable energy solutions and fostering sustainable partnerships. 

EBOOST aims to raise about US $1 million in additional investment. It will increase the number of charging locations from 100 to 350 and the number of users who use EBOOST charging stations from 574 to more than 5,000. 

The partnership comprises the following partners: EBOOST (lead business partner); ASSIST (lead administrative partner).