There has been recent speculation that Dat Bike is no longer a Vietnamese brand due to its parent company being based in Singapore. Dat Bike’s representative has provided clarification to reflect the reality and significance of the strategic moves the startup is making.
Vietnamese Founder Retains Control
According to the company, Dat Bike PTE (Singapore), the parent company of Dat Bike Vietnam, was established with the goal of enhancing access to international capital to better serve Dat Bike’s development in Vietnam. In the shareholder structure of Dat Bike PTE, the Vietnamese founders, including Mr. Nguyen Ba Canh Son, remain in control.
Specifically, the Board of Directors of Dat Bike PTE consists of three members, with Mr. Nguyen Ba Canh Son serving as Chairman, and his brother, Mr. Nguyen Ba Thanh Binh, also on the board. This clearly affirms that Dat Bike is still owned and operated by Vietnamese, with a long-term strategy to introduce the Vietnamese electric vehicle brand to Southeast Asia and the world.
Photo: Shareholder Structure of Dat Bike PTE (Source: Dat Bike)
Dat Bike states that the establishment of the parent company in Singapore is not a “loss of control,” as speculated, but rather a strategic move to attract international investment.
To date, Dat Bike has successfully raised over $25 million from prominent funds such as Jungle Ventures, InfraCo Asia (PIDG), and other reputable organizations. According to the company’s disclosures, more than 500 billion VND has been directly transferred to Vietnam to support Dat Bike’s product development, increased production capacity, and expanded dealership network to serve the domestic market.
This investment capital has paved the way for Dat Bike to launch improved products, such as the recently introduced Quantum S-series, catering to various customer segments from affordable to premium. Simultaneously, the plan to expand the Dat Bike “3S” dealership network is also running smoothly.
Why Singapore?
According to the company, during the launch of the three new vehicle lines, CEO Son Nguyen shared that Dat Bike is experiencing significant growth, aligned with Vietnam’s trend of shifting from gasoline to electric vehicles. The company’s sales are growing rapidly, ranging from 4 to 10 times, and the results for 2024 so far are no exception, thanks to the launch of the Quantum model last year and the three Quantum S models in late October, along with the expansion of the dealership network.
In 2024, Dat Bike expanded its distribution network to 12 dealerships nationwide as of the end of October, up from 3 dealerships at the beginning of the year. The goal is to be present in all provinces and cities across the country by the end of 2025, providing comprehensive services for vehicle sales, accessories, and after-sales service.
Photo: Dat Bike received an investment of $4 million from PIDG in August.
From its early days, Dat Bike has set its sights on greening transportation in Vietnam and, further ahead, in Southeast Asia. Now is the opportune time for Dat Bike to begin building a Vietnamese electric vehicle brand in the region.
Singapore, as the financial hub of Southeast Asia, serves as an ideal springboard for Dat Bike to attract investment and establish an international distribution network. This enables Dat Bike to not only solidify its position in Vietnam but also gradually expand to neighboring markets.
According to industry experts, Dat Bike’s latest product, the Quantum S-series, is approaching international standards and is fully capable of being exported in large quantities. With a maximum range of up to 285 km, a top speed of 100 km/h, and operating costs that are ten times lower than gasoline vehicles, the Quantum S-Series boasts one of the best performance-to-price ratios not only in Vietnam but also in Southeast Asia.
“Instead of viewing it as a loss of ‘Vietnamese purity,’ let’s recognize the success Dat Bike has achieved in building trust with international investors. This is the clearest testament to the strength of Vietnamese brands in competing, attracting capital, and going global,” affirmed CEO Son Nguyen.
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