This EV startup founder is charging up for a greener future in Vietnam

Step out into the streets of any Vietnamese city, and you’ll be greeted with numerous motorcycles. Whether it’s parents sending their children to school, office ladies on their way to work, or delivery men balancing stacks of boxes going about their rounds, these vehicles are an iconic and essential part of life in the country.

As such, it’s no surprise that as Vietnam works toward achieving net zero by 2050, electric vehicles (EVs) – and more specifically, electric two-wheelers – are a central focus. The sector is booming – Vietnam had over 2 million electric motorbikes in its roads as of September 2023.

Son Nguyen, founder and CEO of Dat Bike / Photo credit: Dat Bike

EVs’ crucial role in Vietnam’s story is why we’re shining the spotlight on the sector in our upcoming Saigon Summit.

Ahead of the event, we spoke with Son Nguyen, founder and CEO of Dat Bike, an electric motorcycle manufacturer in the country, about his entrepreneurial story and why he’s excited for Vietnam’s EV scene.

The following interview has been edited for clarity and brevity. 

How did you become a founder?

When I was living in the US, amid the clamor of opportunity, I stumbled upon a realization that there was a quiet but strong yearning for electric mobility echoing from the streets of Vietnam.

Having kept an eye on market demand and believing in the power of available technology in the US to address Vietnam’s challenges, I launched Dat Bike to steer the country toward a greener horizon.

Why are you excited about Vietnam’s EV scene?

Vietnam’s EV scene represents a highly promising market with substantial demand. Electric vehicles are gaining popularity rapidly for several reasons:

• The country has the largest electric two-wheeler market in Southeast Asia as well as the highest annual growth rate – 80% of two-wheeled EVs produced in Southeast Asia are for the Vietnamese market. This presents immense opportunities for innovation and expansion within the industry.
• With access to rare earth metals such as nickel and lithium, which are crucial components for battery production, Vietnam holds a strategic advantage in the global EV supply chain.
• The country possesses an established manufacturing ecosystem specifically tailored to two-wheelers. Leveraging this infrastructure, Vietnam is well-positioned to scale up production and meet the growing demand for EVs domestically and regionally.

What is one thing you wish people knew about Vietnam?

As shared earlier, Vietnam is the second-largest two-wheeler market in Southeast Asia and the largest market for electric two-wheelers, with a growth rate of 30%. The Vietnamese government has made a committed push toward electric two-wheeler adoption as part of its goal to achieve net zero by 2050.

With a clear commitment to sustainability and environmental stewardship, the widespread adoption of EVs in Vietnam is not just promising but inevitable. This presents a unique and exciting opportunity for investors and innovators alike to contribute to Vietnam’s journey toward a greener and more sustainable future.

The Dat Bike team / Photo credit: Dat Bike

What is the most important lesson you’ve learned since becoming a founder?

Never wait for perfection. “Done is better than perfect” has become a mantra for me.

In the entrepreneurial journey, mistakes are inevitable, but what matters most is the ability to recognize errors quickly, make amends, and sprint toward our goals.

What advice do you want to give to aspiring entrepreneurs?

Believe wholeheartedly in the value you bring to people, and steadfastly follow your unique path. Founders need to trust in their vision and the impact it can have on others. Embrace your strengths, stay true to your values, and dare to innovate fearlessly.

Remember, the world needs your perspective, your passion, and your perseverance. Let your belief in your value guide you to success.

What will you be speaking about at Tech in Asia’s Saigon Summit and why is it important?

I’ll be discussing Dat Bike’s unique approach to product development, focusing on achieving the best ratio between performance and price. This discussion is vital because it showcases our model for building products that resonate with consumers while maintaining competitiveness in the market.

Additionally, I’ll delve into our company vision and our commitment to sustainability and innovation in the electric vehicle industry. I aim to inspire and inform fellow entrepreneurs, highlighting the importance of striking a balance between performance, affordability, and a sustainable vision for the future.

Hear more from Son, as well as a host of other exciting speakers, at Tech in Asia’s upcoming Saigon Summit. Held on May 30 at GEM Center, Ho Chi Minh City, we’re bringing together some of Southeast Asia’s best and brightest to chart Vietnam’s tech future together.

Get your tickets to Saigon Summit today.

GET TICKETS

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.