Under the reached agreement, VPI is to assess the impact of energy transition tendency on Vietnam’s petroleum market, identify challenges and chances under the transition and the development of battery and charging station in the world, region and Vietnam.

It will afterward put forth recommendations for PVOIL’s stable and sustainable development against the backdrop of energy transition.

VPI will keep a close watch on the market and regularly update information for PVOIL’s leaders to make accurate decisions and prepare solutions, so as to cope with risks and make the best of chances amid energy transition.

PVOIL began its research on EV, the feasibility for EV to replace gasoline cars and possible scenarios three years ago.

The corporation will capitalise on its current infrastructure of over 600 petroleum stations nationwide and apply technologies in the Fourth Industrial Revolution to devise new solutions to EV development, said its President and CEO Cao Hoai Duong.