Vehicle-to-grid (V2G) is regarded as the effective way to reconcile contradictions between an electric power system and electric vehicles (EVs). A lot of research has been carried out to affect this, often based on different technical and trading model assumptions. The value of the research is dependent on how reasonable the assumptions it makes are. This paper presents a framework for analyzing V2G service development from a coevolutionary perspective in which the interactive relation between the diffusion of EVs and the upgrade of the distribution grid system is considered. A V2G service development logic and its management formulation are put forward. First, the motivations and contradictions of developing V2G services are analyzed. Then a development phase division of the V2G services is proposed in view of the coevolution relation between the grid upgrade and the development of the EV. Next, taking into account the characteristics of each phase, the physical trade structures and corresponding management hierarchies, management relations as well as management measures, are proposed. This paper provides a new perspective of V2G service development, answers the core question on how to make the V2G vision come true in synergy with the development of EVs, and gives some advice on future V2G management paradigms.