Electric scooter manufacturer Dat Bike has received a $4 million convertible loan from InfraCo Asia, a member of the Private Infrastructure Development Group (PIDG). The loan is expected to accelerate the deployment of more than 30,000 electric scooters over the next two years, with the potential to reduce emissions by nearly 26,000 tCO2e (tonnes of CO2) per year and significantly contribute to Vietnam’s carbon reduction efforts. The transaction is also expected to create 30 short-term and 29 permanent jobs, with a focus on gender diversity, with 24% of these positions expected to be filled by women. The initiative is aligned with two of the United Nations’ sustainable development goals, SDG 11 – Sustainable Cities and Communities and SDG 13 – Climate Action.
InfraCo Asia Investment Manager Karen Tsang-Hounsell highlighted the strategic importance of the partnership: “Providing growth capital to companies that are working to support climate action is part of our PIDG 2030 Strategy, which aims to drive sustainable growth in emerging markets in Asia and Africa. We believe in Dat Bike’s potential to accelerate the adoption of electric vehicles and shape a greener, more efficient transportation future, through its innovative, pioneering solutions.”
Mr. Son Nguyen, CEO of Dat Bike, expressed his excitement about the growth prospects thanks to this capital: “With this special support, Dat Bike will accelerate the expansion of production scale to meet the increasing demand for electric motorbikes in Vietnam. Dat Bike's growth has shown the potential of the electric vehicle supply chain in Vietnam.”
The electric motorbike market in Vietnam is growing rapidly, with the annual market penetration rate reaching the highest in Southeast Asia at 16% in 2023. This figure is expected to reach 40% by 2040. The total capital raised by Dat Bike has now exceeded 25 million USD, demonstrating the company's influence and potential to dominate the market.
Dat Bike is a bright spot in the Vietnamese electric vehicle market with its high-performance product positioning and reasonable price. That combination has made the brand the center of attraction for both investors and customers. As the only electric motorbike manufacturer in Vietnam with a vertically integrated system, Dat Bike controls the entire production process, from research and development to vehicle assembly. Dat Bike's commitment to building a domestic supply chain and developing with an innovation orientation is also demonstrated through the fact that more than 90% of components are produced domestically.
In just five years, Dat Bike has launched four new models, each designed to deliver real value to consumers and growth to the business. With continuous, uninterrupted firmware updates and new product enhancements, the company demonstrates a unique and effective strategy that keeps users always on the cutting edge of technology.
Source: https://laodong.vn/doanh-nghiep-doanh-nhan/no-luc-thuc-day-giao-thong-xanh-tai-viet-nam-1384992.ldo
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