Yadea Vietnam commits $100 million for EV plant

The company is in the process of establishing a cutting-edge electric motorcycle production and assembly facility in Tan Hung Industrial Zone in Lang Giang, in a move that underscores Yadea Vietnam's robust commitment to shaping the market.

Scheduled for operations to commence in 2025, the facility is positioned to realise an impressive annual production capacity of two million electric motorcycles. This transformative endeavour is poised to contribute significantly to the local employment landscape, generating opportunities for approximately 3,000 individuals.

Yadea Vietnam will maintain its operations at its assembly plant in Quang Chau Industrial Zone, which yields a manufacturing capacity of up to 500,000 electric motorcycles annually.

The EV manufacturer is celebrated for its expertise in electric motorcycles and e-bikes and has successfully established a footprint in more than 90 countries, reaching over 70 million consumers. The brand's far-reaching influence is bolstered by an expansive network of 40,000 retail outlets spanning the globe.

Demonstrating its market dominance, Yadea secured the title of the world's top-selling EV brand for six consecutive years, earning recognition from Frost & Sullivan, a respected market research and analysis entity.

Beyond its commercial achievements, Yadea secured a notable sponsorship role at the 2023 FIFA Women's World Cup, further enhancing its corporate stature.

Having entered the Vietnamese market in 2019, Yadea expeditiously emerged as a formidable contender in direct competition with local EV firms such as VinFast and Pega. Yadea's offerings, available in Vietnam at prices ranging from VND12 million ($5,063) to VND22 million ($9,283) per unit, encompass a diverse range.

The company's local manufacturing facility has successfully overseen the assembly, production, and distribution of over 100,000 electric motorcycles, spanning an array of 10 unique models. With ambitions set high, Yadea Vietnam is poised to escalate production figures to a substantial 200,000 electric motorcycles of varying configurations in the current year.

Vietnam's EV landscape is undergoing a profound transformation, characterised by the active participation of domestic and international entities fighting for supremacy. While the electric motorcycle market, particularly e-bikes, has witnessed gradual development over recent years, the majority of brands present have hailed from overseas, with Pega (formerly HKBike) being a notable exception.

In recent times, the market has welcomed prominent domestic names such as VinFast and pioneering startup Dat Bike.

Vietnamese agribusiness TTC AgriS bags $100 million unsecured loan Thanh Thanh Cong-Bien Hoa JSC (TTC AgriS), one of Vietnam's frontrunning agribusinesses, inked a deal on July 20 to secure an unsecured loan of up to $100 million.

Vietcap Securities raises $100 million in overseas loan Vietcap Securities has successfully secured a $100 million capital-backed loan from Mega International Commercial Bank, underscoring its growth ambitions and strengthening its financial standing.