VinFast Ends Sales of Two Gasoline Vehicles

News: Vietnam

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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