On October 30th, the Vietnam Petroleum Power Corporation (PV Power) inaugurated its first pilot electric vehicle charging station at 6 Huynh Thuc Khang, Ba Dinh, Hanoi.
After a period of research, installation, and testing in accordance with technical and safety standards, the charging station will officially commence commercial operations on November 1st, 2024.
The charging station boasts a capacity of 120kW and features two CCS2 charging ports compatible with most electric vehicle models currently on the market. Customers can conveniently pay by scanning a QR code via a banking application. The station is open 24/7 and is equipped with a hotline for customer support and guidance.
To celebrate the grand opening, PV Power is offering free charging for electric vehicles during the first week, from November 1st to November 8th. Thereafter, charging fees will be applied according to peak hour rates of 6,174 VND/kWh, off-peak hour rates of 2,830 VND/kWh, and normal hour rates of 4,007 VND/kWh (excluding VAT).
This charging station project is part of PV Power’s long-term strategy to promote the use of clean energy in Vietnam. To materialize this vision, PV Power has signed a cooperation agreement with a South Korean partner to jointly research and develop a domestic electric vehicle charging system.
The charging station at 6 Huynh Thuc Khang sets the stage for PV Power’s expansion plans, targeting 1,000 charging stations nationwide by 2035.
PV Power is a subsidiary of the Vietnam National Oil and Gas Group (PVN), wholly owned by the group. The enterprise primarily focuses on power generation and is currently the largest power generator outside of the Vietnam Electricity Group (EVN) and the most valuable electricity company in the stock market.
According to PV Power’s consolidated financial report for Q3 2024, the company recorded a 7% increase in net revenue, reaching VND 6,061 billion. After expenses, net profit stood at VND 396 billion, a more than 4.7-fold increase compared to Q3 2023.
For the first nine months of this year, PV Power’s net revenue reached VND 21,686 billion, with a net profit of VND 1,111 billion, marking a 1% and 26% increase, respectively, compared to the same period last year. PV Power currently boasts a market capitalization of nearly VND 28,000 billion.
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