Pinaco Adds 11 Business Lines, Expands into Battery Energy Storage
Vietnamese battery maker Pinaco approved 11 new business lines on November 7, 2026, covering equipment, installation and services for battery energy storage systems. The company identified energy storage as a growth area. In the first nine months of 2026, revenue rose 6% year on year, while pretax profit fell 15.5%.
Vietnamese battery maker Pinaco held an extraordinary shareholders’ meeting on November 7, 2026, approving 11 new business lines and amendments to its charter. The additions include electrical equipment manufacturing and sales, electrical system installation, and energy-related services. All valid votes cast at the meeting supported the proposal to expand its business scope.
The new businesses cover the manufacture and assembly of equipment for battery energy storage systems (BESS), including inverters, control cabinets, charging and discharging equipment, and battery management systems. They also include the installation and repair of energy storage systems, as well as consulting and design for renewable energy and storage solutions. Pinaco added the installation of solar power and energy storage systems in residential and industrial buildings to its business scope. The company said BESS is an important direction for its expansion. From 2026 to 2030 and beyond, it plans to strengthen its traditional battery business while developing energy storage products and solutions.
Pinaco has approved the addition of business lines related to battery energy storage systems.（VietVance）
Pinaco was founded in 1976. At a meeting reviewing its performance in the first half of 2026, the company said it supplied 100% of the automotive batteries required by VinFast, about 95% of those required by THACO, and 100% of the batteries required for TMT electric vehicles. The CMF batteries Pinaco previously developed for the VinFast VF 3 and VF 5 are lead-acid batteries used in the vehicles’ auxiliary electrical systems, distinct from the high-voltage batteries that power their electric motors.
In 2025, Pinaco recorded revenue of VND 4.259 trillion and pretax profit of VND 150 billion. Its 2026 targets are VND 4.8 trillion in revenue and VND 200 billion in pretax profit. In the first nine months of 2026, net revenue reached VND 2.848 trillion, up 6% year on year, while pretax profit fell 15.5% to VND 94 billion. Net profit for the period fell 14% to nearly VND 73 billion.
Source: VietVance
