Vietnam’s electric two-wheeler market has grown significantly over the past two decades and its expansion will continue. Domestic brands currently hold a dominant 70% market share, spanning affordable to high-end segments. However, concerns about fire hazards in residential buildings remain a key challenge for widespread adoption. Vietnam boasts the largest electric motorcycle market in Southeast Asia and ranks second globally after China, according to Hanoi-based private equity firm Kirin Capital. By the end of 2020, VinFast led the market with over 43% share, followed by Pega with 15%. Taiwan’s Dibao with 11.8%, and China’s Yadea and Anbico with 8.6% and 8.3%, respectively. The rise of domestic brands Vietnam’s electric two-wheeler industry has evolved rapidly. Chinese electric bicycles first entered the local market in 2005-2006, featuring basic designs with batteries placed under the seat and motors mounted on the rear wheel. These early models had a range of 30-50 kilometers per charge, making them a practical choice for students, homemakers, and the elderly. Since then, Vietnamese electric motorcycle brands have emerged as strong competitors, according to a report by Kirin Capital. Detech Motor, founded in 1999, imported electric motorcycles from abroad before switching to local assembly in 2001. Today, its Hung […]
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