In order to develop the AB5-type hydrogen storage alloys with multi-component alloying elements, the alloys MlNi3.55Co0.3Mn0.4Al0.25Cu0.15Fe0.1Cr0.1Zn0.13Vx(x=0.02, 0.05, 0.08) were prepared, and their discharge capacity, cycle stability were tested and analyzed. The results show that the low-Co content hydrogen storage alloys with additive V has good electrochemical properties. It is found that the electrochemical properties of low-Co content hydrogen storage alloys with x=0.02 are better than those of the other alloys. The effect of V on the electrochemical properties is related to the change of the microstructures of the alloys.