In 2018, a Vietnamese startup called Power Centric stepped onto the stage of Shark Tank Vietnam with a bold pitch that captured national attention. Their flagship product, a smart lithium-ion battery module branded MOPO, promised to redefine how people accessed energy, whether for electric vehicles, home backup power, or off-grid solar charging.
The company didn’t just walk away with praise. It secured one of the largest investments in the show’s history—$1 million USD for a 25% equity stake from Shark Phạm Thanh Hưng, Vice Chairman of CENGroup. With this, expectations soared. The startup was touted as “Vietnam’s Tesla,” a symbol of the country’s growing tech ambition.
But in 2025, that early promise seems to have faded into obscurity. While one company named “MOPO” is thriving across Africa with millions of monthly battery rentals and millions in funding, the Vietnamese MOPO seems to have gone quiet. Its website is inaccessible, public records are conflicting, and its progress remains unclear.
So, what really happened to Vietnam’s MOPO? And who’s behind the success story people keep hearing about?
The Vietnamese MOPO: Power Centric and the $1 Million Shark Tank Deal
The MOPO brand was introduced to the public through Power Centric Joint Stock Company, a startup based in Ho Chi Minh City. The company’s core offering was a smart, modular lithium-ion battery capable of supporting electric vehicles, renewable energy systems, and acting as a portable generator. This battery wasn’t just about hardware. It was supported by a smartphone app and a plan to create a network of 1,000 battery swap stations throughout Vietnam.
When Power Centric appeared on Shark Tank Vietnam, its business model included energy-as-a-service, combining battery rentals, app-based monitoring, and future partnerships with e-mobility companies. During the show, Shark Hưng agreed to invest $1 million USD for 25% ownership, valuing the company at $4 million post-money. More than just cash, Shark Hưng offered access to CENGroup’s massive sales team and customer base to accelerate adoption.
The pitch struck a nerve with the public. MOPO quickly gained attention as a company aiming to change how energy was consumed and distributed across Vietnam. The Shark Tank appearance validated the product and elevated the brand into a national tech icon.
The Short-Lived Boom: Revenue Surged, But Profitability Didn’t
After its television debut, Power Centric experienced a dramatic leap in revenue. In 2018, the company had recorded just 141 million VND in net revenue, about $6,000 USD. By the end of 2019, that number jumped to over 14 billion VND, approximately $600,000 USD—nearly 100 times growth in just one year, a rare achievement for any startup.
However, this growth masked deeper issues. According to available financial data, Power Centric’s profit after tax remained negative in 2019, despite the revenue boost. Liabilities climbed to approximately 29 billion VND, while total equity reached a little over 10 billion VND. High operating costs, interest expenses, and other financial burdens undercut what could have been a breakthrough year.
More concerning is the absence of any public financial reports for 2020 or 2021, which is a red flag for analysts and investors. The lack of transparency in the following years raised growing concerns about the company’s long-term sustainability.
The Vanishing Act: Where Did Power Centric Go?
As of mid-2025, it is difficult to confirm whether Power Centric is still an active business. The company’s official website (mopolife.xvnet.vn) has been offline for several months. A listing on Tracxn categorizes Power Centric as “deadpooled,” which typically means the company has stopped operating or changed its original business model.
However, the situation is unclear. According to Vietnam’s business registration portal the startup is still legally listed as “operating” as of July 2025, under tax code 0313645648. This contradiction between registry data and public visibility raises important questions. Has the company simply gone dark? Or has it pivoted into a form that is no longer publicly promoted?
The absence of media coverage, lack of investor updates, and the offline status of its official platforms all point toward inactivity or at least a pause in public operations.
The Other MOPO: How a UK Company Took Over the Spotlight
While Power Centric faded from the spotlight, another company using the MOPO name has risen rapidly in a different part of the world. This one has no ties to Vietnam.
Mobile Power (MOPO) is a UK-based company co-founded by Jono West, and it has built a completely different business model focused on energy access in Sub-Saharan Africa. Their approach is to use smart lithium batteries in a pay-per-use rental model to bring affordable electricity to underserved communities.
Operating in countries such as Sierra Leone, Nigeria, Liberia, and the Democratic Republic of Congo, Mobile Power has made serious progress. As of 2025, the company has reported:
- More than 20 million battery rentals
- Over 1 million rentals per month
- Active presence in six African nations
- $7 million USD in funding from British International Investment in early 2025
These accomplishments have gained wide attention and media coverage. But due to the identical MOPO brand, many people mistakenly believe this success belongs to the Vietnamese startup. In reality, Mobile Power and Power Centric are entirely unrelated, with different leadership, technology, and markets.
The Brand Confusion: Two MOPOs, One Misleading Narrative
The name “MOPO” has led to confusion across media and online platforms. When you search for “MOPO battery,” you’ll likely see funding news, partnerships, and growth stories—all of which belong to Mobile Power in the UK, not the original Vietnamese startup.
This overlap in branding has caused people to assume the Vietnamese MOPO scaled internationally and secured global partnerships. In truth, the public silence of Power Centric stands in stark contrast to the aggressive growth and visibility of the UK company.
Without clear branding separation or updated digital presence, the two companies have become entangled in the public’s perception.
What Happened to the Battery Swap Network in Vietnam?
A key part of Power Centric’s pitch on Shark Tank was their plan to deploy 1,000 battery swap and charging stations throughout major Vietnamese cities like Hanoi and Ho Chi Minh City. This infrastructure was meant to support electric motorbikes and other mobile energy needs, similar to how fuel stations serve cars.
However, as of 2024, Selex Motors appears to be the leading company in Vietnam’s battery swap ecosystem. Selex has installed more than 60 active swap stations, with ongoing partnerships involving government and non-governmental organizations. Their platform has gained strong traction and is now more commonly associated with EV battery infrastructure in the country.
Power Centric had also announced a partnership with Phu Sy International Trading Company to supply batteries for Xyndi electric scooters, but there’s no evidence of any national deployment or active charging network under the MOPO brand.
Can MOPO Still Become Vietnam’s Tesla?
The short answer is probably not, at least in the form that Power Centric once envisioned.
The label “Vietnam’s Tesla” set extremely high expectations. But Tesla didn’t succeed on branding alone. It delivered with consistent innovation, large-scale manufacturing, and bold global expansion. Power Centric may have had a promising product, but it lacked the execution, sustained funding, and strategic follow-through to live up to that name.
At the same time, the MOPO brand that is thriving today—Mobile Power in the UK—is focused on entirely different goals. Their mission is about providing off-grid electricity access in Africa, not electric vehicles or high-tech battery networks.
So even though both companies operate in the battery space and share the MOPO name, neither is positioned to be “Vietnam’s Tesla,” and only one is visibly scaling across borders.
What We Can Learn from the MOPO Confusion
The MOPO story provides an important lesson in how startup narratives can shift, blend, and sometimes mislead. Here are some key takeaways:
- Visibility doesn’t equal success. A Shark Tank deal and short-term hype don’t guarantee long-term results.
- Brand clarity is critical. When two unrelated companies share the same name, public misunderstanding is almost inevitable.
- Due diligence is everything. Investors, journalists, and consumers should verify whether a company is truly the one they think it is.
The MOPO confusion reveals how perception can outpace reality, especially in the world of startups where branding and buzz often come before proven results.
Conclusion: Two Companies, Two Very Different Legacies
MOPO once stood as one of Vietnam’s most talked-about startups. Its record-setting $1 million deal and big dreams to reshape the energy landscape generated widespread excitement. But those dreams have largely disappeared from public view. The MOPO name that continues to be heard in global headlines now belongs to a UK company solving energy poverty in Africa.
This is a tale of two companies that share one name but not the same fate. It shows that a spectacular launch does not guarantee longevity. Clarity, consistency, and execution are what ultimately define a lasting company legacy.
TL;DR (Too Long; Didn’t Read)
Vietnam’s MOPO startup secured a $1M Shark Tank deal and was once hailed as the country’s “Tesla,” but has since gone silent. Meanwhile, a UK company with the same name is thriving in Africa, causing confusion about which MOPO is actually succeeding.
FAQs
What is MOPO from Shark Tank Vietnam?
MOPO, developed by Power Centric Joint Stock Company, is a Vietnamese smart battery startup that secured a $1 million deal with Shark Hưng on Shark Tank Vietnam in 2018. It aimed to build a network of battery swap stations and electric vehicle support systems across the country.
Is MOPO Vietnam still in business in 2025?
As of 2025, MOPO’s status is unclear. While its official website was once active, third-party platforms such as Tracxn list Power Centric as “deadpooled,” and recent updates are lacking. The company’s digital footprint and public communications appear dormant.
Did MOPO get a real investment on Shark Tank Vietnam?
Yes, MOPO secured a $1 million investment for 25% equity from Shark Hưng during Shark Tank Vietnam. The deal was confirmed on-air, but the long-term effects of the investment remain unclear due to the company’s limited public updates since then.
What is the difference between MOPO Vietnam and MOPO UK?
MOPO Vietnam (Power Centric) focused on battery modules and EV swap stations in Vietnam. MOPO UK (Mobile Power) operates in Africa, providing IoT-powered battery rentals for off-grid communities. The UK-based MOPO has secured millions in funding and is often confused with the Vietnamese company due to their shared name.
How much revenue did MOPO Vietnam generate after Shark Tank?
MOPO’s revenue reportedly grew from 141 million VND in 2018 to over 14 billion VND in 2019, reflecting a near 100x growth after the Shark Tank investment. However, financial performance beyond 2019 is unavailable.
Does MOPO Vietnam have battery swap stations today?
MOPO initially planned to launch 1,000 swap stations across Vietnam. While a few stations were established in Hanoi and Ho Chi Minh City, no large-scale deployment or current network status has been verified publicly as of 2025.