Vingroup's V-Green Partners with Viettel for 6,000 EV Battery Swap Cabinets

Overview

V-Green, a subsidiary of Vingroup (VIC), has signed a strategic partnership with Viettel Bac Ninh to deploy 6,000 battery swap cabinets for electric motorcycles and electric car charging stations across Bac Ninh province. The collaboration leverages Viettel’s extensive network of post offices and locations, with plans to expand nationwide, marking a key step in Vingroup’s electric vehicle infrastructure rollout.

Key Facts

• V-Green and Viettel Bac Ninh announced a cooperation agreement to develop battery swap and EV charging infrastructure.
• The initial phase involves deploying 6,000 battery swap cabinets simultaneously in Bac Ninh province.
• Viettel Bac Ninh will provide construction and installation services for V-Green at its post offices and other locations.
• Viettel will supply high-speed internet packages to all V-Green swap cabinets, enabling 24/7 online monitoring and seamless user experience.
• After Bac Ninh, V-Green plans to expand the system to other provinces with Viettel facilities.
• V-Green targets completing a nationwide network of 60,000 battery swap cabinets by Q2 2026.
• V-Green has previously partnered with MediaMart, FPT Shop, The Gioi Di Dong, PVOIL, and Sun World Ba Na Hills to expand its charging network.

What Happened

V-Green Global Charging Station Development Joint Stock Company and Viettel Bac Ninh officially announced a cooperation agreement to develop infrastructure for electric motorcycle battery swap cabinets and electric car charging stations. Under the agreement, Viettel Bac Ninh will participate in constructing and installing battery swap cabinets for V-Green at post offices and other Viettel-developed locations within Bac Ninh province.

In addition to construction coordination, Viettel Bac Ninh will provide high-speed internet packages for the entire V-Green battery swap system at Viettel points in the province. This connectivity is essential for ensuring stable operation, 24/7 online monitoring, and a fast, seamless battery swap experience for users. Following Bac Ninh, V-Green will study deploying charging stations for electric cars and battery swap cabinets for VinFast electric motorcycles in other provinces with Viettel facilities.

Market Context

VIC shares closed at VND 177 on April 15, 2026, up 6.95% on volume of 6.36 million shares on HOSE. The stock has been buoyed by Vingroup’s aggressive push into electric vehicle and charging infrastructure. The partnership with Viettel, a state-owned telecom giant, provides V-Green with access to a vast physical network and reliable connectivity, addressing a key bottleneck in EV adoption: charging infrastructure density. FPT, which also has technology ties, closed at VND 75, down 1.31%.

Strategic Significance

This partnership is a concrete step in Vingroup’s strategy to dominate Vietnam’s electric vehicle ecosystem by controlling the charging infrastructure. Viettel’s nationwide presence—including post offices and telecom towers—offers V-Green a ready-made distribution network, significantly reducing deployment time and cost. The high-speed internet component ensures real-time monitoring and data collection, which could enable future value-added services. By targeting 60,000 cabinets by Q2 2026, V-Green is positioning itself as the dominant player in the two-wheeler battery swap market, which is critical for VinFast’s electric motorcycle sales.

What to Watch

• Expansion announcements to other provinces, particularly major cities like Hanoi and Ho Chi Minh City.
• Progress toward the 60,000 cabinet target by Q2 2026, with quarterly updates on installations.
• Any additional partnerships with other state-owned enterprises or retail chains.
• VinFast electric motorcycle sales data, as infrastructure availability directly impacts adoption.
• Regulatory developments regarding EV charging standards and land use for charging stations.