Vietnam's Electric Motorbike Market Soars

According to the latest data from Motorcycles Data, Vietnam has astonishingly doubled its electric motorbike sales year-on-year, securing the third position globally. China leads the pack with 3.2 million vehicles, followed by India with 657,000, contributing to a global sales figure of 4.4 million, marking a 7.2% increase from the previous year.

VinFast Leads the Charge in Vietnam

Among the brands, only VinFast has publicly shared its sales figures, with other major players like Honda, Yamaha, Dat Bike, Yadea, and Selex Motor keeping their cards close to their chest. VinFast, a homegrown brand under the Vingroup conglomerate, not only dominates the local market but also ranks among the top 10 electric motorcycle manufacturers worldwide.

Record Sales and Future Prospects

With nearly 71,000 units sold last year and an estimated over 100,000 in the first half of this year, VinFast is setting new benchmarks. The segment of electric motorbikes not requiring a license has seen the highest growth at 112%, appealing mainly to students and homemakers due to their affordability.

Regulatory Changes Fuel Demand

The potential ban on gasoline motorcycles in parts of Hanoi and similar measures in Ho Chi Minh City are expected to significantly boost the demand for electric motorbikes in the near future. Despite Honda and Yamaha's presence in the market, their limited model offerings have resulted in minimal sales impact.