Hanoi, May 6, 2026 – Vietnam National Petroleum Group (Petrolimex), Xuan Cau Holdings, and Selex Motors officially announced the establishment of Vietnam Green Energy Infrastructure Joint Stock Company (VGX), marking an important milestone in the development of energy infrastructure for electric transportation in Vietnam.
Representatives of Xuan Cau Holdings, Petrolimex, and Selex Motors attended the launch ceremony of Vietnam Green Energy Infrastructure Joint Stock Company (VGX).
Representing Xuan Cau Holdings at the event was Mr. To Dung – Chairman of the Board of Directors, together with members of the leadership team and specialized departments.
Representing Petrolimex were Mr. Pham Van Thanh – Secretary of the Party Committee and Chairman of the Board of Directors; Mr. Luu Van Tuyen – Member of the Board of Directors and Chief Executive Officer, along with representatives from the Board of Directors, Executive Board, and professional divisions of the Group.
Representing Selex Motors were Mr. Nguyen Huu Phuoc Nguyen – Chairman of the Board of Directors and Chief Executive Officer, together with members of the Board and specialized departments of the company.
The event took place as Vietnam is accelerating its commitments to reduce greenhouse gas emissions and move toward the goal of net-zero emissions by 2050. Energy infrastructure remains one of the biggest challenges in the electrification of transportation, especially in the synchronized development of charging stations, battery swapping stations, and operational management platforms.
VGX was established to develop a modern and integrated green energy infrastructure system with broad connectivity and shared usage capabilities, serving a wide range of electric vehicles, from motorbikes and cars to future transportation and logistics models.
The company aims to build a nationwide network of charging and battery swapping stations, with priority given to major cities such as Hanoi and Ho Chi Minh City, where policies are being promoted to limit fossil fuel vehicles and gradually establish low-emission zones.
The shared energy infrastructure developed by VGX will allow connectivity and resource sharing among multiple stakeholders, helping optimize investment resources, reduce duplication, and enable both individuals and businesses to access convenient, safe, and cost-effective energy services.
Chairman of Xuan Cau Holdings and Petrolimex Chairman Pham Van Thanh presented flowers to congratulate the leadership team of Vietnam Green Energy Infrastructure Joint Stock Company.
Speaking at the ceremony, Petrolimex Chairman Pham Van Thanh emphasized that the establishment of the company is a concrete step in implementing Petrolimex’s “Three Transformations” strategy, including digital transformation, cultural transformation, and green transformation. It also demonstrates the Group’s strong commitment to the energy transition journey.
According to Mr. Thanh, the establishment of the company not only marks Petrolimex’s move beyond the traditional petroleum business into the energy market for electric transportation, but also opens a new energy ecosystem, laying the foundation for the next decade of green transformation in Vietnam’s energy sector.
With the spirit of “Partnership, Cooperation, Development, for a Greener Vietnam,” Mr. Thanh stated that only through collaboration among Vietnamese enterprises, combining the strengths of both public and private sectors, as well as tradition and innovation, can Vietnam build a self-reliant foundation for sustainable energy transition and national energy security.
In the initial phase, VGX will focus on deployment in urban areas with high traffic density, before expanding along major transportation corridors and eventually nationwide, contributing to green transition, emission reduction, and national energy security.
Speaking on behalf of the leadership of Vietnam Green Energy Infrastructure Joint Stock Company, Mr. Nguyen Huu Phuoc Nguyen – Chief Executive Officer of the company – affirmed the commitment to developing a modern and integrated green energy infrastructure system while gradually mastering technologies developed by Vietnamese enterprises.
The company’s leadership committed to implementing projects with practicality, efficiency, and speed, aiming to provide people and businesses with convenient, safe, and affordable access to green energy services.
Mr. Nguyen Huu Phuoc Nguyen, representing the leadership of Vietnam Green Energy Infrastructure Joint Stock Company, delivered remarks upon accepting the new role.
Information about the Joint Venture PPartners:
Petrolimex is Vietnam’s leading energy group, with a nationwide petroleum distribution network that plays an important role in ensuring national energy security. The Group is gradually transitioning toward cleaner and more sustainable energy models.
Xuan Cau Holdings is a diversified corporation with strengths in infrastructure, energy, and real estate investment and development. The company has implemented many large-scale projects and is rapidly expanding into the green energy sector.
Selex Motors is a Vietnamese technology startup pioneering the development of shared battery swapping infrastructure and solutions for electric motorbikes. The company currently operates around 120 battery swapping stations and has served more than 2 million battery swaps nationwide.
Selex Motors owns core technologies related to batteries, battery swapping stations, electric vehicles, infrastructure systems, and digital management platforms, with 10 registered patents. The company’s electric vehicle ecosystem management platform received the highest-level Sao Khue Award in 2023 from the Vietnam Software and IT Services Association.
In addition, Selex Motors has developed a highly localized supply chain for batteries, battery swapping stations, and electric motorbikes, with approximately 80% of product components manufactured domestically.
In 2024, Selex Motors became the only Vietnamese company in the manufacturing and energy sector to be selected by Forbes for the “Top 100 to Watch” list in Asia.
