Dat Bike gains momentum with $4 million boost

November 27, 2024 | 09:00
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After securing a $4 million convertible loan from InfraCo Asia under PIDG, Vietnamese startup Dat Bike is accelerating rapidly, capturing market share, drawing consumer attention, and stepping into a new era of green transportation.

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
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.

Dat Bike store locations (as of October 2024)

. Truong Dinh Store: 186 Truong Dinh, Hai Ba Trung district, Hanoi

. Danang Store: 209 Hung Vuong, Hai Chau district, Danang

. Tu Xuong Store: 49B Tu Xuong, District 3, Ho Chi Minh City

. Kha Van Can Store: 691 Kha Van Can, Thu Duc, Ho Chi Minh City

. Nguyen Thi Thap Store: 224 Nguyen Thi Thap, District 7, Ho Chi Minh City

. Nguyen Trai Store: 463-465-467 Nguyen Trai, District 5, Ho Chi Minh City

. Le Trong Tan Store: 429 Le Trong Tan, Tan Phu district, Ho Chi Minh City

. Binh Duong Store: 16K/3 KP Binh Dang, Thuan An city, Binh Duong

. Dong Nai Store: 1229 Pham Van Thuan, Bien Hoa city, Dong Nai

. Can Tho Store: 138C Ly Tu Trong, Ninh Kieu district, Can Tho

. Ca Mau Store: 144 Nguyen Tat Thanh, Ca Mau city

For more details: www.dat.bike

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By Minh Tung

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