HANOI: Vietnamese electric motorbike maker Dat Bike secured US$22 million in fresh funding as it takes on established players such as Honda Motor Co. and Yamaha Corp. in one of the world’s fastest-growing two-wheel EV markets.
The new capital will be used to expand manufacturing capacity, boost market presence and develop new products, Chief Executive Officer and Founder Nguyen Ba Canh Son said in an interview. Founded in 2019 by Son, a former Silicon Valley engineer who taught himself how to build bikes partly by watching online videos, Dat Bike is scaling operations to meet rising demand for electric vehicles in Vietnam.
