Vietnam's electric vehicle (EV) sector is undergoing significant developments as Selex, a rival to VinFast, has partnered with Petrolimex to launch an open EV charging and battery-swap network across the country [2]. This joint venture leverages Petrolimex's extensive gas station network to provide charging and battery-swapping services for motorbikes, allowing users of different brands to access the infrastructure without being tied to a single manufacturer [2]. The initiative is expected to accelerate EV adoption in Vietnam, particularly in the motorbike segment, which is the dominant mode of transportation [2].
This move comes as the Vietnamese government intensifies efforts to electrify transport, with cities like Ho Chi Minh City considering bans on petrol vehicles in downtown areas [2]. The open network model is seen as a solution to consumer concerns about limited charging infrastructure and brand lock-in, potentially increasing competition in the fast-growing EV market where VinFast has previously maintained a first-mover advantage with its proprietary charging stations [2]. Financial details of the joint venture have not been disclosed [2].
However, these advancements in EV infrastructure are occurring against the backdrop of broader challenges facing ASEAN's electrification ambitions. The region's power grids are described as fragile and heavily reliant on fossil fuels, with the International Energy Agency projecting that renewables will account for only 30% of Southeast Asia's generation mix by 2040 [1]. Vietnam, which has set a target of 1 million electric cars by 2028, has experienced blackouts in major cities during heatwaves, highlighting the grid's limited capacity and storage [1]. Analysts warn that without significant upgrades to grid infrastructure, the rapid adoption of EVs could increase emissions in the short term, as more coal and gas are burned to meet charging demand [1].
A Singapore-based energy analyst noted that "the Southeast Asian power grid is the weakest link in the region’s electrification ambitions," emphasizing the need for a holistic approach that synchronizes EV deployment with grid modernization, energy storage, and a rapid scale-up of renewables [1]. Without such measures, the region risks shifting emissions from vehicle tailpipes to power plant smokestacks [1].
CONCLUSION
Vietnam's EV market is poised for accelerated growth with Selex and Petrolimex's open charging network, addressing key consumer barriers and increasing competition. However, the success of these initiatives will depend on the country's ability to modernize its power grid and reduce reliance on fossil fuels, as current infrastructure limitations threaten to undermine the environmental benefits of electrification.