E-bike startup Dat Bike has set a clear path to become the fastest-growing player in the industry with its efforts to produce vehicles with exceptional range, rapid charging capabilities, and optimal pricing.
|Dat Bike CEO Son Nguyen is not letting up in its creation of new models
The Vietnamese startup has formed strategic alliances with ride-hailing giants like Gojek and food delivery services like Baemim, as well as engaged with financial partners such as HSBC to expand to new customer segments and secure investment.
Among the international markets that Dat Bike is eyeing, Indonesia stands out as their first destination for expansion. Indonesia currently boasts a sizable demand for electric motorcycles, with the government implementing supportive policies in the electric vehicle (EV) sector. Additionally, the usage habits of e-bikes in Indonesia share similarities with those in Vietnam, making it a promising market for Dat Bike’s products.
CEO Son Nguyen emphasised their focus on establishing a solid domestic market before expanding to neighbouring countries.
“We have been studying the demand for EVs in various Southeast Asian nations, examining foreign business policies, and seeking production and distribution partners to lay the groundwork for their international market entry plan, which is projected to materialise by 2025,” he said.
“Dat Bike also recognises the importance of leveraging resources effectively during this pivotal stage of development. Collaboration and partnerships with other organisations become crucial factors in the growth strategy.”
Vietnam leads the electric motorcycle adoption rate in Southeast Asia, with e-bikes accounting for 10 per cent of total two-wheelers, whereas other Southeast Asian countries hover around only 1 per cent.
Vietnam also stands out due to its long exposure to low-performance electric motorcycles imported from China, which have been used by students in secondary and high schools for many years. Consequently, a significant portion of the population has become familiar with e-bikes, and their experience as students shapes them into potential customers who will likely choose EVs when they reach adulthood.
This early exposure to EVs is rare in comparison to other countries and may take 5-10 years for other markets to develop a similar segment, Nguyen said.
Therefore, as the trend towards EVs gains momentum, Dat Bike remains optimistic about the future of the e-bike industry in Vietnam. The primary challenge currently lies in producing such vehicles with comparable performance to gasoline-powered counterparts while maintaining reasonable pricing.
Having operated in the market for nearly five years, Dat Bike has demonstrated its manufacturing capabilities and prowess in producing high-performance electric motorcycles that address the challenges and compare favourably against traditional gasoline-powered counterparts.
A prime example of this is Dat Bike’s latest model, the Weaver++. This e-bike boasts a range of 200km on a single charge. It has the ability to fast charge at any standard power outlet, providing 100km of range in just one hour, and a quick 20 minutes at Dat Charge stations can deliver 100km of range as well.
Priced at VND65.9 million ($2,780), the Weaver++ is regarded as an excellent value proposition for the functionality it offers.
The company’s dedication to fostering environmentally friendly mobility solutions also aligns perfectly with the rising demand for eco-conscious transportation options worldwide, Son said.
“As Dat Bike continues to push the boundaries of related technology and expand its horizons beyond borders, it is undoubtedly poised for a future filled with growth,” he said.
|E-motorbike startup Dat Bike wraps up $2.6 million funding led by Jungle Ventures
Dat Bike, a Vietnamese electric motorbike startup, has raised $2.6 million in pre-Series A funding led by Jungle Ventures and featuring Wavemaker Partners, Hustle Fund, and iSeed Ventures.
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|Gojek inks partnership with Dat Bike in Vietnam
Gojek – an on-demand, multiservice mobile platform – and Dat Bike – one of the fastest growing electric vehicle startups in Southeast Asia – announced on May 18 that they will partner to pilot the use of electric motorbikes in Gojek's transportation, logistics, and food delivery network in Vietnam.
|Dat Bike: continuously upgrading for greener transportation
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