Gojek’s Vietnam exit could reinforce Grab dominance of ride-hailing market
Indonesian Gojek's upcoming exit from Vietnam is expected to intensify competition between domestic ride-hailing and delivery companies and Malaysian unicorn Grab which currently dominates the market.
Gojek’s departure starting September 16 could strengthen Grab’s dominance in Vietnam’s ride-hailing market, said Ricky Ho, an expert from BSA Vietnam, citing the company’s earlier success in defeating Uber in Vietnam, in particular, and the Southeast Asian market, in general.
However, Gojek’s exit will likely bode well for Vietnamese service providers to grow and challenge Grab, Ho added.

Green SM Taxi's (GSM) electric cars in Hanoi. Photo courtesy of GSM.
The entry of domestic newcomer ToGo Group JSC is expected to bring more balance to the competition. Founded in June 2024, ToGo is 40% owned by Vo Quoc Binh, an entrepreneur with over 20 years of hands-on experience in the auto market.
Two days after its launch, ToGo signed an agreement with TMT Motors for 2,000 Wuling Mini EV units, a small electric vehicle brand from China. These vehicles are reportedly intended for use in student transportation.
In March 2023, Green SM Taxi (GSM), an all-electric taxi company owned by Vingroup’s chairman Pham Nhat Vuong, signed a cooperation pact with local ride-hailing startup Be Group to integrate electric vehicles and electric motorbikes into Vietnam's transport services.
As part of the agreement, Be Group will receive direct investment from GSM to become a multi-service consumer platform and provide advanced technology-based transportation services in Vietnam.
Established in 2019, Be Group has recorded over 10 million monthly transactions on its app and expanded to 28 localities, making it the fastest-growing Vietnamese ride-hailing app.
Market observers have agreed that Gojek's exit will see fiercer competition for market share in Vietnam’s ride-hailing sector, with companies “burning” significant amounts of money.
Vietnamese brands have chosen electric vehicles (EVs) as a key strategy to compete with Grab. The green mobility solution is considered a smart move, allowing companies to optimize resources while gaining a reputation for sustainability.
However, a more comprehensive long-term strategy is needed, especially regarding pricing and promotions. While GSM and ToGo have been focusing on these aspects, Be has not, despite its strong and well-received marketing efforts.
A limited survey suggests that Grab has a pricing advantage over Be. This is seen as a drawback for the latter, especially since it rarely offers promotions for users, unlike Grab.
According to the latest data from market research firm Q&Me, Grab leads ride-hailing brands in Vietnam with 42% of the market share, followed by Be, GSM and Gojek with 32%, 19%, and 7%, respectively.
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