Dat Bike announced that it secured a convertible loan worth 4 million USD from InfraCo Asia, a member of the Private Infrastructure Development Group (PIDG).

This investment will help the electric motorbike manufacturer double its production capacity by expanding facilities, tools, and automation.

PIDG is an organization focused on developing and financing innovative infrastructure projects, encouraging and mobilizing private investment in pioneering infrastructure projects across Africa, South Asia, and Southeast Asia, to support economic development and poverty reduction. The organization is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany, and the International Finance Corporation (IFC).

InfraCo Asia, established in 2009 and headquartered in Singapore, is a member of this group, primarily focused on investing in infrastructure development in the renewable energy and agriculture sectors across South Asia and Southeast Asia.

In addition to investing in Dat Bike, InfraCo Asia has also been involved in several other notable projects. These include bringing the Coc San Hydropower Plant into operation, constructing a solar power plant with a capacity of 168MWp in Ninh Thuan, and participating in various projects in other countries, such as partnering with Radiance Renewables to develop renewable energy projects in India.

What will the 4 million USD be used for?

Amid the booming electric vehicle market in Vietnam, Dat Bike plans to focus on producing high-performance electric motorbikes at affordable prices.

The loan from InfraCo Asia is seen as a crucial part of the company’s goal to produce 30,000 motorbikes in the next two years.

This financial support is particularly valuable as the electric motorbike market in Vietnam is rapidly growing, with an annual market penetration rate that reached a high of 16% in 2023 and is expected to increase to 40% by 2040.

Dat Bike's electric motorbike manufacturing plant in Ho Chi Minh City.

In fact, the 4 million USD is not the first investment Dat Bike has attracted. The company has secured a total of over 25 million USD to date.

Founded by Nguyen Ba Canh Son, a former technology engineer from Silicon Valley, the company aims to become one of the leading motorbike manufacturers in Vietnam's 8 billion USD market, while also expanding its influence in the Southeast Asian market, which is valued at up to 25 billion USD.

Dat Bike has already achieved initial success by launching four electric motorbike models, with the latest product being the Quantum series, priced at nearly 50 million VND. The bike can travel up to 270km on a single charge, boasts a 7kW power output, and features fast charging capabilities. This range is comparable to that of small electric cars.