V-Green partners PVOIL to install 3,000 battery-swap cabinets at gas stations by June 2026

Overview

V-Green, a subsidiary of Vingroup (VIC), has signed a strategic partnership with PVOIL to install 3,000 battery-swapping cabinets for electric motorcycles at nearly 1,000 PVOIL gas stations nationwide by the end of June 2026. The agreement builds on an existing collaboration that has already deployed nearly 400 combined car charging stations and motorcycle battery-swap cabinets at PVOIL locations, and aims to cover the entire PVOIL network.

Key Facts

• V-Green and PVOIL signed a strategic cooperation agreement on May 7, 2026.
• The target is to deploy over 3,000 battery-swapping cabinets for electric motorcycles at PVOIL’s nearly 1,000 gas stations.
• Installation will begin in May 2026, with completion expected by the end of June 2026.
• Prior to this, the two companies had already installed nearly 400 combined car charging stations and motorcycle battery-swap cabinets at PVOIL outlets.
• V-Green currently operates 150,000 car charging ports across 34 provinces and cities.
• V-Green aims to complete 60,000 motorcycle battery-swap cabinets in Q2 2026, partnering with retailers like FPT Shop, The Gioi Di Dong, and MediaMart.
• VIC shares closed at VND 177, up 6.95% on April 15, 2026.

What Happened

On May 7, 2026, V-Green (Công ty Cổ phần Phát triển Trạm sạc Toàn cầu V-Green) and PVOIL (Tổng Công ty Dầu Việt Nam - CTCP) announced a strategic partnership to install more than 3,000 battery-swapping cabinets for electric motorcycles at PVOIL’s nearly 1,000 gas stations nationwide. According to the agreement, survey and installation work will begin immediately in May 2026, with the goal of completing all installations by the end of June 2026.

The partnership expands on a previous collaboration that had already deployed nearly 400 combined car charging stations and motorcycle battery-swap cabinets at PVOIL locations, which the companies describe as having delivered positive business results and optimal user experience for VinFast electric vehicle users. V-Green plans to eventually cover the entire PVOIL network with battery-swap cabinets.

Market Context

VIC shares closed at VND 177 on April 15, 2026, up 6.95% on volume of 6.36 million shares, reflecting positive market sentiment around Vingroup’s expanding electric vehicle ecosystem. The partnership with PVOIL, a major state-owned oil and gas company listed on HOSE, provides V-Green with access to a nationwide network of high-traffic locations, accelerating the deployment of battery-swapping infrastructure for VinFast’s growing electric motorcycle fleet.

Strategic Significance

This partnership is a key component of Vingroup’s strategy to build a comprehensive electric vehicle ecosystem, from manufacturing (VinFast) to charging infrastructure (V-Green). By leveraging PVOIL’s extensive gas station network, V-Green can rapidly scale its battery-swapping network without the need to acquire new real estate, reducing capital expenditure and deployment time. The move also strengthens VinFast’s competitive position in the electric motorcycle market, where battery-swapping convenience is a critical differentiator. For PVOIL, the partnership diversifies its revenue streams and positions it as a key player in Vietnam’s energy transition.

What to Watch

• Progress of installation milestones: completion of 3,000 cabinets by end of June 2026.
• Expansion of V-Green’s total battery-swap cabinet count toward its 60,000-unit target for Q2 2026.
• VinFast electric motorcycle sales data and market share trends.
• Potential partnerships with other retail chains (FPT Shop, The Gioi Di Dong, MediaMart) and their contribution to cabinet deployment.
• VIC’s next quarterly earnings report for updates on infrastructure investment and EV segment performance.