Dat Bike gains momentum with $4 million boost

The electric vehicle (EV) revolution is on the horizon, as the world witnesses a significant shift from gasoline-powered vehicles to sustainable electric alternatives. Both large and small companies in the industry are racing to develop models that meet rising consumer demand. According to the International Energy Agency, 2023 saw nearly 14 million EVs sold worldwide, marking a 35 per cent increase compared to the previous year.

Dat Bike, Vietnam’s only vertically integrated e-bike manufacturer, manages every aspect of design, production, and sales. This unique approach has set the company apart in a competitive market. In just five years, Dat Bike has introduced four new models, each offering practical value to consumers and fuelling the company’s rapid growth.

In 2023, Dat Bike made a bold move into the mainstream with the release of its first electric scooter, the Dat Bike Quantum. Offering a range of up to 270km, a price tag under VND50 million ($2,000), a massive 41L trunk, and smart features like cruise control, the Quantum set a new benchmark in Vietnam’s e-bike industry.

Dat Bike gains momentum with $4 million boost

A quantum leap after five years

Since its debut in 2019, Dat Bike has been a serious player in the e-bike sector, with a clear vision to become the leading manufacturer. Each year, the company releases top-quality models that rank highest in their category.

In 2023, the launch of the Quantum scooter brought Dat Bike even closer to the general public. After five years of operation, with three flagship stores in Ho Chi Minh City, Hanoi, and Danang, the company has been expanding rapidly, opening new stores nationwide almost weekly. The recent openings in Binh Duong and Dong Nai provinces and Can Tho city highlight this expansion effort.

Creating a complete experience

By establishing stores in various provinces, Dat Bike is making its e-bikes more accessible to a broader audience, allowing the company to better understand customer needs and ensure high-quality service by eliminating unnecessary intermediaries. This expansion also helps boost brand awareness and allows Dat Bike to tap into regions where EVs are not yet prevalent.

To achieve this growth, Dat Bike has gained trust and support from international investment funds, having successfully raised $25 million to date.

The new Dat Bike stores stand out with their bright and friendly white-orange colour scheme. They display a full range of models, from the Weaver, Weaver 200, and Weaver++ to the latest Quantum scooter. These stores serve as both showrooms for the latest EV models and spaces where Dat Bike fans and potential customers can try out the newest bikes. Current owners can also bring their bikes in for quick maintenance and repairs. With the “3S Standard” (sales, service, and spare parts), the stores provide a roomy space where customers can buy bikes, get them serviced, and purchase genuine accessories, all in one place.

Dat Bike’s expansion is not limited to Vietnam, and the company is also aiming to become the top e-bike brand in Southeast Asia. Given the region’s booming ride-hailing industry, Dat Bike plans to partner with transport companies to help drivers switch to EVs – saving money and benefiting the urban environment.

With significant investments and a strategic vision, Dat Bike is ready to help consumers embrace the global EV era.

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Dat Bike, FPT IS launch public cloud for EV manufacturing industry Dat Bike Vietnam, a prominent electric motorcycle company, and FPT IS launched an enterprise management project using the SAP S/4HANA public cloud solution on July 2.

Dat Bike secures $4 million convertible loan InfraCo Asia announced on August 26 that it has provided a $4 million convertible loan to Vietnamese electric two-wheeler manufacturing company Dat Bike.