What PINACO does

PINACO (legal name: Công ty Cổ Phần Pin Ắc Quy Miền Nam; ticker PAC on the Ho Chi Minh Stock Exchange) is Vietnam's largest dedicated battery manufacturer, founded in 1976 and privatized/listed via equitization in 2004. The company operates two product lines under sub-brands: Ắc Quy Đồng Nai (lead-acid storage batteries) and Pin Con Ó (dry-cell batteries), alongside auxiliary brands Eagle, JP, and PAC. The storage-battery portfolio spans flooded wet, hybrid (antimony-lead positive / calcium-lead negative), maintenance-free dry (CMF), AGM, EFB, and Idling Stop variants for automotive (cars, trucks), motorcycle, marine (up to 200Ah), electric-vehicle, e-bike, and residential/lighting applications; the dry-cell portfolio covers premium alkaline, multi-purpose, and children's-toy tiers in AA, AAA, and D sizes.

Manufacturing runs on European-technology production lines with vacuum lead mixers from Eirich (Germany) and additional equipment sourced from the USA, South Korea, and China, supported by quality systems certified to ISO 9001, IATF 16949, ISO/IEC 17025, and ISO 14001. In 2026 the company launched the S76 Sodium-ion battery as a next-generation chemistry platform positioned for the EV and energy-storage transition.

The business model is hardware sales through three coexisting channels: (1) direct OEM line-side supply to 14+ Vietnam-assembling automakers including Honda, Ford, Mercedes-Benz, Thaco, KIA, Hyundai Vinamotor, Vina Mazda, Yamaha, Piaggio, Suzuki, VinFast, Mekong Auto, Samco, and VEAM; (2) a nationwide aftermarket distribution network covering all Vietnamese provinces through distributors, agents, and retail outlets (anchored by branch offices in Ho Chi Minh City, Hanoi, and Da Nang); and (3) direct-to-consumer e-commerce via shop.pinaco.com plus Shopee, Lazada, and Tiki storefronts. Unit-pricing spans roughly 30,000 VND (alkaline AA 2-pack) to >4,452,000 VND (marine N200) with VAT-inclusive retail pricing, 6–9 month product warranties honored at any point of sale nationwide, and VAT-inclusive nationwide free shipping. Exports reach 44 countries and territories, generating independent recognition as a 'Reputable Export Enterprise.' Revenue concentration sits principally in Ắc Quy Đồng Nai storage-battery sales to Vietnamese OEMs and the domestic aftermarket.

Name

PINACO

Legal name

Công ty Cổ Phần Pin Ắc Quy Miền Nam (PINACO)

Website

https://pinaco.com

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PINACO is Vietnam's largest dedicated battery manufacturer (ticker PAC), producing lead-acid storage batteries (Ắc Quy Đồng Nai) and dry-cell batteries (Pin Con Ó) for OEM supply to 14+ domestic automakers including Honda, Ford, and VinFast, and for nationwide aftermarket retail across Vietnam and export to 44 countries.

Ownership category

akta.pro rank

Product category

Lead-Acid Battery Manufacturing

NAICS

Battery Manufacturing (33591), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

akta.pro primary industry

Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

akta.pro secondary industries

Automotive Batteries & 12V/Low-Voltage Energy Storage Manufacturing (IMACAJAJ), Battery Pack & Module Manufacturing (EV) (IMACACAA), Battery Pack Manufacturing & Module Assembly (EUAFABAI), E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI)

Keywords

• Lead-acid battery manufacturing
• Automotive OEM battery supply
• Dry cell batteries
• Marine and motorcycle batteries
• Electric vehicle batteries

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Storage Battery (Ắc Quy) Sales: PINACO generates the majority of its revenue from manufacturing and selling lead-acid storage batteries under the Ắc Quy Đồng Nai brand. Product lines include: dry charged/maintenance-free batteries (AGM, EFB, Extra CMF, CMF), hybrid batteries, flooded automotive batteries, truck batteries, marine batteries, electric vehicle batteries, motorcycle batteries, e-bike batteries, and civilian/lighting batteries. Sold through OEM supply to automotive manufacturers, a nationwide distributor/retail network, and e-commerce channels.
2. Dry Cell Battery (Pin) Sales: PINACO manufactures and sells dry cell batteries under the Pin Con Ó brand, available in premium alkaline (for high-drain devices), multi-purpose (for household devices), and children's toys tiers. Sizes include D (large), AA (small), and AAA (stick) formats. Sold through the same distribution channels as storage batteries.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels10 records

Core offering

PINACO manufactures and sells lead-acid storage batteries (Ắc Quy Đồng Nai) covering automotive, motorcycle, truck, marine, electric vehicle, e-bike, and residential applications, as well as dry cell batteries (Pin Con Ó) in alkaline, multi-purpose, and children's toy tiers. Its most recent platform innovation is the S76 Sodium battery launched at its 50-year milestone. Products are sold through direct OEM supply to Vietnamese automotive assemblers, a nationwide distributor and retail network, the PINACO eShop, and third-party marketplaces, with exports to 44 countries.

Product overview

PINACO is a Vietnamese manufacturer producing two primary product lines: storage batteries (Ắc quy) and dry cell batteries (Pin). The battery portfolio includes specialized variants for automotive (cars, trucks), marine, motorcycle, electric vehicles, and residential applications. Technology variants encompass maintenance-free dry batteries (VRLA/AGM/EFB/CMF), hybrid batteries combining wet and dry technologies, and traditional wet/flooded batteries. PINACO also recently launched the S76 Sodium battery as an innovative next-generation technology. The dry cell division produces Pin Con Ó batteries in premium alkaline, multi-purpose, and children's toy variants across various sizes (AA, AAA, D). The company manufactures under European technology standards with modern equipment from Germany, USA, and South Korea.

Differentiator

Problem solved

Functional benefit

Brands

• Ắc Quy Đồng Nai: Lead-acid storage batteries (wet, dry, AGM, EFB, CMF, hybrid) for automobiles, motorcycles, trucks, ships, electric vehicles, and residential use. Manufactured using European technology on modern production lines from leading global equipment manufacturers.
• Pin Con Ó
• Eagle
• JP
• PAC

Products and services

• Ắc Quy Ô tô Đồng Nai (Car Battery) Lead-acid storage batteries for automobiles, including maintenance-free dry batteries (AGM, EFB, CMF, Extra CMF) and traditional wet (Hybrid, Conventional) batteries, supplied to Vietnamese automotive OEMs and the aftermarket replacement market.
• Ắc Quy Xe tải Đồng Nai (Truck Battery) Heavy-duty lead-acid batteries for trucks and commercial vehicles delivering reliable starting power and deep-cycle capability; sold to commercial buyers via the nationwide distributor network and OEM supply.
• Ắc Quy Tàu thuyền Đồng Nai (Marine Battery) Deep-cycle batteries for marine boats and ships (e.g., N200 12V-200Ah) providing sustained power for onboard electrical systems.
• Ắc Quy Xe máy Đồng Nai (Motorcycle Battery) Starting batteries for motorcycles, available in both maintenance-free dry (VRLA) and wet electrolyte variants, including models for Idling Stop (start-stop) systems. Supplied to Honda, Yamaha, Piaggio, Suzuki and aftermarket.
• Ắc Quy Xe điện Đồng Nai (Electric Vehicle Battery) Deep-cycle batteries designed for electric vehicles, providing reliable power for electric car applications and supplied to OEM EV manufacturers (e.g., VinFast) in Vietnam.
• Ắc Quy Xe máy điện/Xe đạp điện Đồng Nai (E-Bike Battery) Batteries for electric bicycles and electric motorbikes offering sustained deep-cycle performance for daily mobility use.
• Ắc Quy Dân dụng Đồng Nai (Residential/Consumer Battery) Battery solutions for residential applications such as emergency lighting, uninterruptible power supplies, and general household energy storage.
• Pin Con Ó Cao Cấp (Premium Dry Cell Battery) Premium alkaline dry cell batteries for high-drain devices such as digital cameras, remote controls, and other power-intensive electronics.
• Pin Con Ó Đa Dụng (Multi-Purpose Dry Cell Battery) General-purpose dry cell batteries for household devices such as flashlights, wall clocks, and various home electronics.
• Pin Con Ó Đồ Chơi (Children's Toys Dry Cell Battery) Economical dry cell batteries for children's toys and low-drain devices, mercury- and cadmium-free.
• Ắc Quy S76 Sodium (S76 Sodium Battery) Next-generation sodium-ion battery technology featuring superior safety, rapid charging capability, and reliable operation in extreme temperatures — PINACO's strategic move into green, environmentally friendly energy storage.

Quantifiable outcome

• Exports to 44 countries and territories worldwide
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered core.

• Ford Motor CompanycoreStrategic or Co-development Partner · 1 January 2014PINACO has been a strategic battery supplier to Ford Vietnam since before 2014. In 2014, PINACO received Ford Q1 Certification — the highest supplier award from Ford globally — recognizing excellence in quality, production capability, and customer satisfaction. This partnership involves OEM battery supply for Ford vehicles assembled in Vietnam.
• Honda VietnamcoreStrategic or Co-development PartnerPINACO is a trusted battery supplier for Honda Vietnam, providing storage batteries for Honda motorcycles and vehicles assembled at Honda Vietnam factories. This is one of PINACO's longest-standing OEM partnerships.
• Mercedes-Benz VietnamcoreStrategic or Co-development PartnerPINACO supplies OEM batteries for Mercedes-Benz vehicles assembled in Vietnam, demonstrating PINACO's capability to meet the stringent quality standards of a premium global automotive brand.
• Thaco Trường HảicoreStrategic or Co-development PartnerPINACO is an OEM battery supplier to Thaco Trường Hải, Vietnam's leading commercial vehicle and bus manufacturer, supplying batteries for trucks, buses, and other vehicles assembled at Thaco.
• VinFastcoreStrategic or Co-development PartnerPINACO supplies batteries for VinFast electric vehicles, supporting Vietnam's leading domestic electric vehicle manufacturer in its mission to bring electric mobility to the Vietnamese market.
• Yamaha VietnamcoreStrategic or Co-development PartnerPINACO is an OEM battery supplier for Yamaha motorcycles assembled in Vietnam, with batteries fitted at Yamaha Vietnam's assembly lines.
• Hyundai VinamotorcoreStrategic or Co-development PartnerPINACO supplies batteries for Hyundai vehicles assembled at Hyundai Vinamotor facilities in Vietnam.
• KIA MotorscoreStrategic or Co-development PartnerPINACO is an OEM battery supplier for KIA vehicles assembled in Vietnam.
• Vina MazdacoreStrategic or Co-development PartnerPINACO supplies OEM batteries for Mazda vehicles assembled at Vina Mazda in Vietnam.
• Piaggio VietnamcoreStrategic or Co-development PartnerPINACO supplies batteries for Piaggio-brand vehicles (Vespa, Liberty, and other models) assembled in Vietnam.
• Suzuki VietnamcoreStrategic or Co-development PartnerPINACO is an OEM battery supplier for Suzuki motorcycles and vehicles assembled in Vietnam.
• Vietnam Ministry of Industry and Trade / Consumer ProtectioncoreOthersPINACO is registered with the Ministry of Industry and Trade as an official e-commerce operator (Bộ Công Thương), demonstrating compliance with Vietnam's e-commerce regulations. The company holds a legitimate online business license and participates in government-supervised consumer protection programs.
• Suppliers of Raw Materials (Australia, South Korea, Thailand)coreOthersPINACO imports raw materials directly from Australia, South Korea, Thailand, and other countries for battery manufacturing. These supply partnerships ensure consistent quality of inputs for production.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• EnerSys: Global leader in industrial batteries including motive power, reserve power, and automotive batteries. Comparable to PINACO in automotive and industrial battery segments, with broader industrial focus and global scale.
• East Penn Manufacturing: Privately-held US manufacturer of lead-acid batteries (Deka brand) for automotive, marine, industrial, and specialty applications. Comparable to PINACO in product breadth, manufacturing heritage, and vertical integration.
• Amara Raja Batteries: India's largest lead-acid battery manufacturer (Amaron brand) supplying automotive OEMs and aftermarket. Directly comparable to PINACO in product portfolio (automotive, motorcycle, industrial, home UPS), emerging market focus, and OEM-plus-aftermarket GTM model.
• Exide Industries: India's leading storage battery manufacturer with dominant domestic market share and exports to multiple countries. Highly comparable to PINACO as a 100+ year-old lead-acid battery specialist with strong OEM relationships, nationwide distribution, and brand-led consumer positioning.
• Chaowei Power Holdings: Chinese lead-acid battery manufacturer (Chaowei/Chilwee brand) with strong e-bike and electric vehicle battery focus. Comparable to PINACO in two-wheeler and EV battery segments, particularly for emerging markets.
• Camel Group: China's largest automotive battery manufacturer supplying OEMs and aftermarket. Comparable to PINACO as a large-scale lead-acid battery producer with broad product portfolio, significant OEM relationships, and active development of new chemistries.

Broad incumbents

• GS Yuasa: Japanese global lead-acid and lithium-ion battery manufacturer with strong automotive OEM relationships (Honda, Yamaha, Suzuki). Closely comparable to PINACO in automotive and motorcycle battery segments, but operates at significantly larger global scale and broader technology portfolio including Li-ion.
• VARTA AG: German battery manufacturer specializing in automotive starter batteries, micro-batteries, and lithium-ion solutions. Comparable to PINACO in automotive battery heritage and European technology standards, with stronger lithium-ion positioning.
• Clarios: World's largest automotive battery manufacturer (formerly Johnson Controls Power Solutions), supplying 1 in 3 vehicles globally. Comparable to PINACO as an automotive lead-acid battery leader, but at vastly larger scale and with global OEM relationships.

Regional players

• Leoch International Technology: Hong Kong-listed battery manufacturer with global distribution across 100+ countries, specializing in lead-acid and lithium batteries for automotive, motorcycle, and UPS applications. Comparable to PINACO in product portfolio, export orientation, and emerging market focus, but with broader lithium-ion presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC7JJ1-RmhjixTOz1Y-he0RQ
• Facebookfacebook.com/pinacovietnam
• Xx.com/pinacobattery
• LinkedInlinkedin.com/company/pinaco

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PINACO