Efforts to promote green transportation

DNVN - With the desire to promote the use of electric vehicles and contribute to shaping a greener and more efficient transportation future in Vietnam, Dat Bike has partnered with PIDG to secure funding worth 4 million USD.

Dat Bike, an electric motorcycle manufacturer, has just received a $4 million loan from InfraCo Asia – a member of the Private Infrastructure Development Group (PIDG) – to enhance its production capacity and meet the growing market demand.

This investment will help Dat Bike double its production capacity through expanding facilities, optimizing tools, and increasing automation.

The $4 million loan from InfraCo Asia is expected to fuel the deployment of over 30,000 electric motorcycles within the next two years, with the potential to reduce emissions by nearly 26,000 tonnes of CO2 annually and significantly contribute to Vietnam's carbon reduction efforts. The transaction is also expected to create 30 short-term and 29 long-term jobs, with a focus on gender diversity, and 24% of these positions are expected to be held by women.

Dat Bike's manufacturing plant is located in Ho Chi Minh City.

Karen Tsang-Hounsell, Investment Management Director of InfraCo Asia, said: “Providing growth funding to companies in operation to support climate action is part of our PIDG 2030 Strategy, which aims for sustainable development in emerging markets in Asia and Africa. We believe Dat Bike has the potential to drive the adoption of electric vehicles and shape a greener, more efficient transportation future through its innovative, pioneering solutions.”

Expressing confidence in the growth prospects thanks to the loan from PIDG, Mr. Son Nguyen - CEO of Dat Bike shared: “With this special support, Dat Bike will accelerate the expansion of production scale to meet the increasing demand for electric motorcycles in Vietnam.”

The electric motorcycle market in Vietnam is experiencing rapid growth, with an annual market penetration rate reaching the highest in Southeast Asia at 16% in 2023. This figure is projected to reach 40% by 2040.

With zero emissions during operation, electric motorcycles are a more environmentally friendly option compared to vehicles using internal combustion engines. This is a crucial factor in promoting sustainable greening of transportation in Vietnam.

Minh Thu

Source: https://doanhnghiepvn.vn/kinh-te/no-luc-thuc-day-giao-thong-xanh-/20240826052427765