Dat Bike Leads Vietnam’s Transition to Electric Mobility with $4 Million Boost

Vietnam’s electric vehicle sector is gaining momentum, and Dat Bike is leading the charge.

The homegrown electric motorbike manufacturer has secured a $4 million convertible loan from InfraCo Asia, part of the Private Infrastructure Development Group (PIDG). This investment is set to more than double Dat Bike’s production capacity, driving Vietnam’s transition to greener, more sustainable transportation.

Founded in 2018, Dat Bike is Vietnam’s only vertically integrated electric two-wheeler manufacturer, handling all research, development, and production domestically. With over 90% of its components sourced locally, Dat Bike exemplifies Vietnam’s ability to build cutting-edge technology within its borders.

In just five years, the company has launched four models, selling directly to both consumers and businesses, and allowing users to benefit from fast firmware updates and product enhancements.This new funding will facilitate the production of over 30,000 additional electric motorbikes over the next two years.

Dat Bike’s growth aligns with Vietnam’s broader shift toward electric transportation, as the country recorded the highest penetration of electric two-wheelers in Southeast Asia in 2023, reaching 16%. With predictions suggesting that electric two-wheeler adoption will grow to 40% by 2040, Dat Bike is poised to capitalize on this rapid expansion. Their vehicles would be expected to avoid close to 26,000 tCO2e each year, and thus contribute to the decarbonization of the transport sector in Vietnam.

“With this funding, Dat Bike is poised to scale up rapidly, accelerating our growth to meet the rising demand for electric motorbikes in Vietnam. As the fastest-growing company in this field, we are uniquely positioned to expand our production capacity and lead the charge in transforming green transportation across the region.”
Son Nguyen, CEO at DatBike

As Dat Bike scales up, it isn’t just meeting the rising demand for electric vehicles—it’s shaping Vietnam’s future as a key player in the global EV market and serving as a blueprint for other startups and investors, driving further innovation and investment in the country’s EV ecosystem.Source: Vietnam Investment Review