Vietnamese electric motorbike maker Dat Bike secured $22 million in fresh funding as it takes on established players such as Honda Motor and Yamaha in one of the world’s fastest-growing two-wheel electric vehicle 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 EVs in Vietnam.
The Southeast Asian nation is now the third-largest market for electric two-wheelers globally, behind China and India, according to an August report from MotorCycles Data. The sector saw a 99.2% jump in early 2025, with VinFast Auto entering the global top 10 electric motorbike manufacturers. Last year, 209,000 EV units were sold in the country, the report said.
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