With the fast development of Internet of Things (IoT) especially for smart grid and electric vehicle (EV) networking, vehicle-to-grid (V2G) communications have been increasingly studied and recognized as one of the most convincing tools for general road transportation, to effectively reduce the oil demands and gas emissions. Unfortunately, a series of security and privacy issues have significantly impeded its wide adoption. The existing work mainly focused on the static environment, which cannot be directly applied to the mobile setting where EVs travel across regions. The dynamic pricing metric in V2G networks depends on the real-time electricity usage aggregation in one region. To address this issue, in this article, an efficient privacy-preserving data aggregation and dynamic pricing service PADP in V2G IoT is proposed, by designing an identity-based sequential aggregate signed data (SASD) based on factoring and a threshold homomorphic encryption. In the proposed threshold homomorphic encryption, a legal ciphertext can be generated if and only if no less than threshold k individual illegal ciphertexts are aggregated. Therefore, the aggregated power consumption data can be successfully decrypted while the individual power consumption privacy of honest EV users can be well protected against even the collusion between a malicious power charging station and compromised EVs. Furthermore, the technique of SASD guarantees entity authentication with a minimized amount of transmitted data. Finally, formal security proof and extensive performance evaluation demonstrate the effectiveness and practicability of our proposed PADP.