Petrolimex (PLX) Pushed to Finish EV Charging at Vietnam Expressway Rest Stops

Overview

Vietnam’s Road Department, under the Ministry of Construction, has instructed investors to complete electric-vehicle charging and green fuel infrastructure at rest stops along the North-South expressway corridor. Petrolimex (PLX), listed on HOSE, is the largest single investor among the 21 contracted rest stops, holding nine sites. The directive is a policy signal rather than a financial disclosure, and no capital expenditure figures were attached.

Key Facts

• The eastern North-South expressway has 36 rest stops; 7 were completed and operating before 2024.
• Only 2 of those 7 have EV charging: Tây Ninh Bình (Km269+410, right side) with 24 of 24 positions live, and Xuân Khiêm Ninh Bình (Km269+313, left side) with 12 of 26 positions live.
• 5 rest stops still have no charging: Hà Nội-Bắc Giang (2 stops), Cầu Giẽ-Ninh Bình, La Sơn-Hòa Liên, Thành phố Hồ Chí Minh-Long Thành-Dầu Giây and Bến Lức-Trung Lương.
• Petrolimex invests in 9 of the 21 ministry-contracted stops; Mai Sơn-Quốc lộ 45 (Km327+900) already runs 10 charging posts per side, each with 2 ports, equal to 20 positions per side.
• Eight Petrolimex stops, including Nghi Sơn-Diễn Châu, Diễn Châu-Bãi Vọt, Bùng-Vạn Ninh, Vạn Ninh-Cam Lộ, Quảng Ngãi-Hoài Nhơn (2), Vân Phong-Nha Trang and Nha Trang-Cam Lâm, are designed for 20-22 charging positions per side and targeted for completion this year.
• The FUTABUSLINE-Thành Hiệp Phát consortium holds 5 stops designed for 10-26 positions per side, with completion targeted for 2026.
• Xuân Khiêm Group has partnered with V-Green to expand two stops toward a “super charging station” model with up to 400 additional charging positions.

What Happened

The Road Department’s report, cited in the article, sets out the current state of charging infrastructure across the eastern North-South expressway. Of the 36 planned rest stops, 7 entered operation before 2024, but only the two Ninh Bình facilities have functioning chargers, and both are only partly commissioned. The department said the remaining five stops must add charging capacity to meet demand from vehicle owners as road transport electrification accelerates.

For the 21 rest stops where the Ministry of Construction is the contracting authority, investment and business contracts already require at least 10% of parking positions to carry chargers. Petrolimex accounts for nine of these. Its Mai Sơn-Quốc lộ 45 site is already operating, while the other eight are under construction in line with project schedules and are expected to finish this year. The article does not disclose contract values, expected utilisation rates or the split of investment between Petrolimex and its charging partners.

Market Context

PLX closed at VND 33,700 on 5 November 2026 on HOSE. The stock trades as a domestic fuel distribution and retail play, and the charging build-out sits alongside its core petroleum business rather than replacing it. The directive lands as Vietnam pushes transport electrification, with VinFast-linked V-Green already active in the charging market and competing for rest-stop space. Sector peers in infrastructure and logistics face the same compliance requirement, but Petrolimex carries the largest single portfolio of contracted sites.

Strategic Significance

The thesis for PLX is optionality on non-fuel revenue. Expressway rest stops are captive-demand locations, and a 20-22 position charging footprint per side gives Petrolimex a foothold in EV recharging before the market matures. The regulatory requirement that at least 10% of parking positions be charger-equipped effectively underwrites baseline demand and lowers site-selection risk. The competitive question is whether Petrolimex builds and operates chargers itself or cedes the customer interface to partners such as V-Green, which would capture the higher-margin charging economics. For long-term holders, the relevant metric is capital allocation: charging capex that earns a return versus capex that merely satisfies a mandate.

What to Watch

• Petrolimex disclosures on charging capex and any joint-venture or partnership terms for the eight sites targeted for completion this year.
• Commissioning progress at the eight Petrolimex stops, particularly whether 20-22 positions per side are energised on schedule.
• Whether the five stops without chargers, including Cầu Giẽ-Ninh Bình and Bến Lức-Trung Lương, are awarded to new or existing investors.
• V-Green’s expansion terms with Xuân Khiêm Group and any implications for competitive positioning at rest stops.
• PLX quarterly results for any segment disclosure separating fuel retail from non-fuel and charging revenue.