PVOIL to Install 3,000+ VinFast Battery Swap Cabinets at 1,000 Gas Stations by June 2026

Overview

PVOIL (Tổng công ty Dầu Việt Nam – CTCP) and V-Green (Công ty CP Phát triển Trạm sạc Toàn cầu V-Green) have signed a strategic cooperation agreement to deploy over 3,000 battery swap cabinets for electric motorcycles and electric car charging stations at nearly 1,000 PVOIL gas stations across Vietnam. The rollout is expected to be completed by June 2026, significantly expanding the charging network for VinFast electric vehicles.

Key Facts

• Agreement signed on May 7, 2026, in Ho Chi Minh City.
• Over 3,000 battery swap cabinets for electric motorcycles and car charging stations to be installed.
• Deployment across nearly 1,000 PVOIL gas stations nationwide.
• Completion target: June 2026.
• Prior cooperation already resulted in nearly 400 combined car charging stations and battery swap cabinets at PVOIL stations.
• PVOIL Trans, a subsidiary of PVOIL, is directly responsible for implementing the battery swap cabinets.
• The partnership aims to make Vietnam one of the highest-density charging and battery swap markets in the region and globally.

What Happened

On May 7, 2026, PVOIL and V-Green signed a strategic partnership agreement to install over 3,000 battery swap cabinets for electric motorcycles and car charging stations at nearly 1,000 PVOIL gas stations nationwide. The signing ceremony took place in Ho Chi Minh City, with senior executives from both companies present, including PVOIL General Director Nguyen Dang Trinh and V-Green Deputy General Director Nguyen Duc Vinh.

According to the agreement, survey and installation will begin in May 2026, with completion targeted for June 2026. This follows an earlier collaboration that saw nearly 400 combined car charging stations and battery swap cabinets deployed at PVOIL stations, which both companies described as yielding positive business results. The companies stated that the partnership is a strategic step in PVOIL’s energy transition toward greener and more sustainable operations, and it supports the development of infrastructure for electric vehicle users in Vietnam.

Market Context

PVOIL, listed on HOSE, is one of Vietnam’s largest petroleum distributors. The partnership aligns with the company’s strategy to diversify beyond traditional fuel sales into non-fuel services, including electric vehicle charging. VinFast (VFS), the electric vehicle manufacturer, is expanding its ecosystem, and this agreement strengthens its charging network. The Vietnamese government has been promoting electric vehicle adoption, and the expansion of charging infrastructure is a key enabler. PVOIL’s stock has been relatively stable, and this deal could support its long-term growth narrative as the energy transition accelerates.

Strategic Significance

For PVOIL, this partnership represents a concrete step in its strategy to become a diversified energy provider, adapting to the global shift away from fossil fuels. By leveraging its extensive gas station network, PVOIL can generate additional revenue from non-fuel services and position itself as a key player in the electric vehicle infrastructure market. For V-Green and VinFast, the agreement dramatically expands the availability of battery swap and charging stations, addressing a critical barrier to EV adoption in Vietnam. The scale of the rollout—over 3,000 cabinets at 1,000 locations—could make Vietnam one of the densest charging networks globally, potentially boosting VinFast’s sales and brand loyalty.

What to Watch

• Progress of installation milestones in May and June 2026.
• Any additional partnerships between PVOIL and other EV companies.
• PVOIL’s quarterly earnings reports for non-fuel revenue contribution.
• VinFast’s vehicle sales data and market share in Vietnam.
• Government policy updates on EV incentives and charging infrastructure standards.