PV Power invests over $70,000 to build electric vehicle charging station in Hanoi

August 16, 2024 | 11:30

(0) user say

Petrovietnam Power Corporation (PV Power) is building a pilot electric vehicle (EV) charging station in Hanoi, marking its entry into Vietnam's fledging EV charging station market.

PV Power invests over $70,000 to build electric vehicle charging station in Hanoi

PV Power has signed an MoU with EN Technologies Inc. to research and develop an EV charging station network in Vietnam. PV Power is responsible for identifying locations, providing technical infrastructure and equipment, construction, installation, and site renovation, as well as covering other costs. After research and evaluation, PV Power decided to construct its first pilot EV charging station in Hanoi.

The DC fast EV charging station has a total capacity of 100–120 kW, and covers over 30 square metres. The project has a total investment of over VND1.8 billion (over $71,000).

Charging revenue is calculated based on estimated charging output. The charging price is divided into off-peak, normal, and peak hours, and the average charging price is expected to be around VND3,858 (15 cents) per kWh.

After a trial run, PV Power will evaluate the station based on technology, operation, safety, customer assessment, and efficiency to make appropriate adjustments.

According to PV Power, the government is accelerating the shift from fossil fuel-powered motor vehicles to EVs, with demand expected to climb. To ensure smooth traffic flows, EV charging station infrastructure is vital to the rising adoption of EVs in Vietnam.

Investments in EV charging stations will open up new business opportunities for the company, and is closely aligned with PV Power's development strategy. At the same time, the pilot station in Hanoi will be the premise for PV Power to scale up its EV charging station network nationwide.

Need is urgent for e-vehicle charging infrastructure

Vietnam’s major cities are in urgent need of synchronous charging and payment station systems before an electric vehicle boom can truly take shape.

Carmakers go it alone on e-vehicle charging solutions

Carmakers in Vietnam are looking to develop their own charging infrastructure for electric vehicles through strong partnerships.

Singapore's Charge+ ties up with Porsche to develop charging network in Vietnam

Singapore electric vehicle (EV) charging firm Charge+ has teamed up with Porsche to launch a 1,700km EV charging network in Vietnam that links Hanoi and Ho Chi Minh City.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional