In our Food Delivery Platforms in Southeast Asia 5.0 report released in January this year, we posed a question: Would Xanh SM – the mobility platform launched by Vinfast, the electric vehicle brand under Vietnam’s richest man Phạm Nhật Vượng – eventually enter the food delivery market to challenge market leaders Grab and ShopeeFood?
It turns out we were right. This month, Xanh SM officially launched its food delivery platform “Xanh SM Ngon” in Hanoi, Vietnam’s capital.
“Ngon” in Vietnamese means “delicious” or “tasty.” The choice of name is likely a deliberate attempt to appear more locally grounded than foreign-owned platforms.
According to the official announcement, Xanh SM Ngon has already partnered with over 2,000 restaurants in Hanoi, described as “high-quality and reputable.” The platform plans to expand to other regions across Vietnam in the near future.
The company claims that Xanh SM Ngon’s unique advantages include “fast delivery”, “guaranteed quality,” and “attractive, ongoing promotions for customers”.
Very similar to ecommerce and food delivery platform JD in China, where founder Richard Liu wanted to serve all four of the value propositions: 多Selection、快Speed、好Quality and 省Saving.
Richard Liu doing deliveries himself
Among these claims, the platform seems to particularly emphasize supplier quality and food safety. The company stated that all participating restaurants must possess a food hygiene and safety certificate issued by relevant authorities and are required to serve dishes exactly as shown in promotional images, carefully prepared, authentic in taste, and hygienic.
In terms of delivery speed, Xanh SM Ngon promises a “no batched orders” policy — meaning each order is delivered one-to-one directly from the restaurant to the customer, focusing on freshness and maintaining food temperature.
On pricing, for orders above VND 50,000 (around USD 1.90),restaurants and Xanh SM will jointly provide discounts ranging from VND 20,000 to 90,000. Additional promo codes, offering 20%–50% off, will be available depending on time of day, dish category, or user group.
Users who pay via e-wallets or linked bank cards can receive extra bonuses of VND 15,000 to 30,000. Many items will be partially or fully subsidized by restaurants, with support up to VND 50,000. Delivery fees can also be subsidized by VND 5,000 to 10,000.
The company emphasized that “all benefits are transparently displayed in the app,” allowing users to access them easily without complicated procedures.
Nguyễn Văn Thanh, General Manager of Xanh SM, added that the platform upholds the belief that “only green is truly delicious”. “With fully electric food delivery, we can enjoy our meals even while on the move — all while reducing our impact on the environment. This is our next step in enhancing daily consumption experiences, starting with something as small and familiar as dining.”
Currently, beyond food delivery, the Xanh SM platform also provides four-wheeler transport, premium ride services, two-wheeler transport, and parcel delivery. The company also aspires to “gradually capture the Southeast Asian market with high service quality and safety”.
According to Momentum Works’ Food Delivery Platforms in Southeast Asia 5.0 report, the Vietnam food delivery market reached USD 1.8 billion in 2024, with Grab and ShopeeFood together holding 95% of the market.
Historically, many foreign entrants – including Germany’s Foodpanda, South Korea’s Baemin, and Indonesia’s Gojek – have tried and failed in Vietnam. Most made a brief splash before quickly sinking. ShopeeFood itself was built on the acquisition of a leading local player long ago, while homegrown platform Be has surprisingly managed to survive against the odds.
The post A new Vietnamese food delivery platform tries to challenge Grab & Shopee first appeared on The Low Down - Momentum Works.
