Foreigner starts company that makes new kind of motorbike lock in Vietnam

Robert Thorwath, who has been living and working in Vietnam for six years, has invented a special lock for motorcycles.

Robert Thorwath is the founder of Lock Cuff - a business specializing in manufacturing motorcycle locks ‘Make in Vietnam’. This is one of the projects that successfully raised capital during the Vietnamese TV show Shark Tank - Billionaire.

In place of the conventional disc lock models on the market, Lock Cuff is designed to lock the brake and throttle, so users don't have to bend down to lock the disc or wheel or get their hands dirty.

Ông Tây và câu chuyện làm khóa xe máy Make in Vietnam

CEO Robert Thorwath, founder of the Lock Cuff brand.

Seeing the inconvenience for his Vietnamese wife who bends over to lock her motorbike while wearing a mini skirt, Thorwath spent four years researching and developing the lock pattern.

Lock Cuff is inspired by the combination of a handcuff and a lock. It is very light, compact and easy to handle. Even if a thief cuts the brake line, the motorcycle cannot run as the throttle is blocked. Users can also safely hook the helmet to the accelerator with the lock, he said.

Ông Tây và câu chuyện làm khóa xe máy Make in Vietnam

Lock Cuff locks the brake and throttle instead of the wheel or the disc as usual.

The lock pattern by Thorwath is catching on well in the market thanks to its high applicability. Despite being newly launched on March 3, Lock Cuff has made 500 locks at the price of VND 275,000 each. The product is now patented. It is eco-friendly, and comes in a green, biodegradable bag.

The production process does not produce any waste. All materials, from the rubber pad to the main metal of the lock, are made in Hanoi and can be recycled. The laser cutting and the production of the plastic pieces are both done in Vietnam.

 
Ông Tây và câu chuyện làm khóa xe máy Make in Vietnam

The compact lock costs VND275,000.

Thorwath chose Shark Phu with an offer of 2 billion for 10% of the shares, among the offers tendered by other "Sharks". Thr most important feature is the factory, which is Shark Phu’s strength.

When asked about his decision to start a business in Vietnam, Thorwath said: “I simply can proudly say I love Vietnam. My wife and children are both Vietnamese, so I don’t see how I would pick another country."

Trong Dat

Start-up grows as trend among college students

Start-up grows as trend among college students

Start-up has become a trend among youngsters with driving ambition. Some, though still in college, have started their business out of their actual studies.

Start-ups attracting foreign investors

Start-ups attracting foreign investors

Start-ups globally have been in a critical condition recently, as COVID-19 has forced many private equity firms to cut their investment. 

 
 

Other News

.
Trading value at stock market reaches record high
Trading value at stock market reaches record high
FEATUREicon  22/11/2021 

Cash keeps flowing into the stock market, including during trading sessions when the VN Index falls.

Hard limit for credit institutions buying corporate bonds
Hard limit for credit institutions buying corporate bonds
BUSINESSicon  22/11/2021 

Credit institutions with a bad debt ratio of more than 3 per cent are forbidden to buy corporate bonds, according to the latest announcement from the SBV.

EU enterprises in Vietnam optimistic again
EU enterprises in Vietnam optimistic again
BUSINESSicon  21/11/2021 

The leadership of European Union enterprises in Vietnam has become more optimistic about Vietnam’s business environment after the social distancing has ended, and commerce and investment have begun the “new normal.”

Authorities, enterprises collaborate to respond to trade remedy lawsuits
Authorities, enterprises collaborate to respond to trade remedy lawsuits
BUSINESSicon  21/11/2021 

Vietnam is currently facing 208 trade remedy lawsuits, and this figure is expected to increase sharply in the coming time, causing the market share of Vietnamese goods to be at risk of shrinking in many export markets.

Vietnam and the ‘90% economy’
Vietnam and the ‘90% economy’
FEATUREicon  21/11/2021 

While Vietnam's economy is still struggling with difficulties, the world economy is recovering clearly, after a long period of paralysis due to the impact of the Covid-19 epidemic.

Black Friday 2021 launched in HCM City
Black Friday 2021 launched in HCM City
BUSINESSicon  20/11/2021 

The shopping festival Black Friday was kicked off on November 19 in Ho Chi Minh City.

Vietnam wins big tea contract with Malaysian partner
Vietnam wins big tea contract with Malaysian partner
BUSINESSicon  20/11/2021 

Nam Son Co., Ltd and Asia Tea of Vietnam will supply tea to Kong Wooi Fong Tea Merchants Sdn Bhd based in Malaysia under a contract worth up to 2 million USD.

Decrease in in seafood exports expected as a result of new Chinese policy
Decrease in in seafood exports expected as a result of new Chinese policy
BUSINESSicon  20/11/2021 

Vietnam’s seafood exports to China are likely to decrease sharply as Chinese customs are tightening control over imports.

Consumers more prudent with post-pandemic personal finances
Consumers more prudent with post-pandemic personal finances
BUSINESSicon  20/11/2021 

After giving birth to their second daughter, Thanh Van, a 39-year-old office worker in Hanoi, had to quit her job because she could not afford the cost of hiring a babysitter after a 30 per cent pay-cut due to the COVID-19 pandemic. 

Digital transformation to create new growth engine for Vietnam's agriculture
Digital transformation to create new growth engine for Vietnam's agriculture
BUSINESSicon  19/11/2021 

As digital transformation will help overcome most of the weaknesses faced by the local agriculture sector, it should be considered a breakthrough solution for sustainable growth and development in Vietnam.

Flower farmers do not dare grow large quantities for Tet amid Covid uncertainty
Flower farmers do not dare grow large quantities for Tet amid Covid uncertainty
BUSINESSicon  19/11/2021 

Many flower and bonsai farmers in HCM City and the Cuu Long (Mekong) Delta have reduced production for Tet (Lunar New Year) which falls early next year since they are worried the COVID-19 pandemic will affect demand.

VIETNAM BUSINESS NEWS NOVEMBER 20
VIETNAM BUSINESS NEWS NOVEMBER 20
BUSINESSicon  20/11/2021 

Binh Duong remains attractive to foreign investors

Vietnam may have new USD billionaires
Vietnam may have new USD billionaires
BUSINESSicon  19/11/2021 

If assets are calculated according to the value of the stock market, Vietnam will have more USD billionaires.

Vietnam among top 10 countries with largest installed solar power capacity
Vietnam among top 10 countries with largest installed solar power capacity
BUSINESSicon  19/11/2021 

Visual Capitalist has listed Vietnam among the world’s top 10 for largest installed solar power capacity.

Global energy crisis: another concern for Vietnam's economy
Global energy crisis: another concern for Vietnam's economy
FEATUREicon  19/11/2021 

Disrupted coal mining in Ordis in Inner Mongolia, the most important coal mining hub in the world, is posing huge risks that could stifle global growth.

Too many traceability apps confuse farm-produce buyers
Too many traceability apps confuse farm-produce buyers
FEATUREicon  19/11/2021 

The farm produce traceability system in Vietnam still doesn’t match GS1 standards (the most widely used system of standards in the world), and, as such, the existing traceability apps are just for internal use.

More businesses seek black credit as cash flow plummets
More businesses seek black credit as cash flow plummets
FEATUREicon  19/11/2021 

Seventy-one percent of businesses anticipate revenue decreases in 2021, higher than the 65 percent figure in 2020, according to a survey.

VIETNAM BUSINESS NEWS NOVEMBER 19
VIETNAM BUSINESS NEWS NOVEMBER 19
BUSINESSicon  19/11/2021 

Seafood stocks surge on business recovery

Overspend in the works for reboot of national economy
Overspend in the works for reboot of national economy
BUSINESSicon  19/11/2021 

Vietnam may not be able to increase its budget deficit next year in order to ensure state budget spending, with the economy still sabotaged and business revenues still dented.

Captivating incentives target FDI from Europe
Captivating incentives target FDI from Europe
BUSINESSicon  18/11/2021 

Vietnam will continue considering foreign investment one of its important drivers for socioeconomic development over the next four years, with its ambitious plan to attract more high-quality funding. 

 
 
 
Leave your comment on an article

OR QUICK LOGIN