Ridesharing Giant Gojek Converting Vehicles To EVs

News: Vietnam

2023-09-16

Ridesharing Giant Gojek Converting Vehicles To EVs

SOUTHEAST ASIA: VIETNAM REPORT

Indonesian ridesharing giant Gojek plans to convert all its motorcycles to EVs by 2030. The adoption of EV motorcycles is now in full swing in Indonesia, the largest motorcycle market in Southeast Asia with annual sales of more than 5 million units.

Gojek, the country’s leading ridesharing and delivery company, is said to have over 2 million registered riders, including both motorcycles and cars. The full conversion to EV bikes is expected to contribute significantly to the Indonesian government’s goal of 9 million EV bikes by 2030.

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2023-08-21

Foxconn To Invest $246 Million in Vietnam Plant

SOUTHEAST ASIA: VIETNAM REPORT

Foxconn, Taiwan’s leading electronics contract manufacturer, has received regulatory approval for its plan to invest $246 million in two new projects in Quang Ninh Province in northern Vietnam. The projects, to be carried out by a subsidiary of Foxconn Singapore, will focus on the manufacturing and assembly of telecommunications equipment and electric vehicle components.

This will bring Foxconn’s total investment in Vietnam to approximately $3 billion. Of the new investment, $200 million will be invested in a factory to produce EV chargers and components, which is expected to begin production in January 2025 and employ an estimated 1,200 workers.

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2023-04-18

Vingroup To Enter EV Cab Market

VIETNAM REPORT
Akihiro Komuro
Akihiro Komuro

Vingroup plans to launch a cab business using EVs in the country in April. The founder and chairman of the company has established a new company, owning a 95% stake. The company plans to start the service in Hanoi, the capital of the country, and expand it nationwide within the year. The company also hopes to increase awareness of its products.

The new company, Green and Smart Mobility (GSM), is capitalized at US$ 128 million (VND3 trillion, approximately 17 billion yen) and will develop a cab business using EVs as well as a business that rents EVs and electric bikes to other cab companies, etc. GSM plans to use 10,000 EVs and 100,000 electric bikes.

Source: The Nikkei

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2023-02-20

Hyundai To Start Operations at Plant in Vietnam

FAR EAST: SOUTH KOREA REPORT
Akihiro Komuro
Akihiro Komuro

A joint venture between South Korea’s Hyundai Motor and Vietnamese conglomerate Thanh Cong Group has started operations of an automobile plant in the northern Vietnamese province of Ninh Binh.

With an annual production capacity of 100,000 vehicles, the combined annual production capacity with the existing plant will reach 180,000 by 2025. The company will ship domestically as well as to neighboring countries. The new plant, operated by the joint venture Hyundai Thanh Cong, will have an investment of 3.2 trillion dong (about 18 billion yen). The plant will cover an area of approximately 50 hectares and include a test driving course.

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2022-11-15

Korean Electric Motorcycle Maker Builds Factory in Vietnam

FAR EAST: SOUTH KOREA REPORT

Zio Holdings, a South Korean company engaged in the production and sale of electric motorcycles, says it has completed an electric motorcycle factory in Bac Ninh Province in northern Vietnam.

The factory covers an area of 1,300 m2 and has an annual production capacity of 12,000 units. The factory will receive parts supplied from original brand factories in Vietnam and China and will assemble the parts at ZIO EV’s factory in Vietnam.

The electric bikes to be manufactured at the new factory will be named “EDEN” and “MEVOYEZ,” and will use LFP batteries (lithium-ion iron phosphate batteries). The maximum speed is 55Km/h, and the driving range is over 150km. The selling price is expected to be 30 million VND (approximately 176,000 yen).

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2022-10-21

Urban Railroads Delayed

SOUTHEAST ASIA: VIETNAM REPORT

The development of urban railroads in Vietnam has been significantly delayed. The opening of the second line in the capital Hanoi is expected to be delayed to 2027, and the first line in the southern city of Ho Chi Minh City may not open until the end of 2023.

In addition to financial difficulties, there are cases where administrative authorities are not proactively resolving problems, leading to further delays.

In mid-September, Hanoi City abandoned the planned Hanoi Urban Railway Line 3 (Nhon Hanoi Station), which was planned to run through the center of the city, to open by the end of the year. The line is 12.5 kilometers long. Construction of the line began in 2010, and although it was originally planned to open in 2015, it is believed that the plan has already been changed about five times.

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2022-09-28

Vinfast To Export Initial 5,000 EVs To Europe and the U.S.

SOUTHEAST ASIA: VIETNAM REPORT

Vinfast has announced plans to export approximately 5,000 EVs to the U.S., Canada, and Europe by the end of 2022. This is the first time for them to export EVs. The company also plans to start construction of a new EV plant in the U.S. by the end of this year, accelerating its global strategy.

According to the plan, exports to the U.S. and other countries will begin in early November, with delivery to customers starting in December. Vinfast’s CEO revealed that the company has orders for approximately 65,000 EVs worldwide.

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2022-07-20

VinFast Ends Sales of Two Gasoline Vehicles

VIETNAM REPORT
Akihiro Komuro
Akihiro Komuro

VinFast, an automotive subsidiary of Vingroup, the largest conglomerate in Vietnam, announced that it ended orders for two types of gasoline-powered vehicles in early July. The models covered are SUVs and sedans, and the company now will only sell the Fadil, a compact gasoline-powered vehicle. The company has announced its plan to withdraw from the production of gasoline-powered vehicles by the end of this year and is hastening its shift to EV production.

VinFast states that the reason for the suspension of orders for the two models is that “procurement of parts has become difficult and the number of units delivered to customers was not as large as expected.” The company did not mention the timing of the suspension of orders for Fadil. The company began selling EVs in Vietnam in December 2021.

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2022-05-23

Vietnam’s Dat Bike EV Motorcycle Enters SE Asia

SOUTHEAST ASIA: VIETNAM REPORT

Vietnamese electric bike manufacturer Dat Bike says it has raised $5.3 million. This brings the total raised by Dat Bike, founded in 2019, to $10 million. The funds will be used to invest in technology, increase production, expand operations to major cities in northern, central, and southern Vietnam, and hire skilled workers.

Dat Bike is a tech startup that plans to promote environmentally friendly transportation, first in Vietnam and then soon in Southeast Asia. The company’s strength lies in the performance of its electric bikes compared to gasoline-powered bikes. The company achieves this through vertical integration, in which key components such as speed controllers and batteries are designed and manufactured in-house.

The company currently sells two products: the Weaver, launched in 2019, has an output of 5 kW, about three times that of most electric bikes in the same price range. It has a range of 100 kilometers, about twice as long as competing models.

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