Vingroup has joined the motorbike market

In late November, VinFast officially launched Klara, an electric motorbike model equipped with high technologies, internet 3G connection, GPS, remote locking/unlocking and other utilities.

The manufacturer stated that another seven models will be launched soon. In 2019, there will be seven more eScooter models available, including one super-luxury model, two high-end, one medium-class and three models for students.

The first products displayed at the launch ceremonies in Hanoi and HCMC showed high interest from the public. Klara sold out on the first day of sale in HCMC. Customers were told to place order two weeks in advance if they wanted the version with a lead battery, while those who want a lithium battery will only get deliveries in late December of later.

On auto forums, analysts said that urbanites now tend to favor electric vehicles, which do not produce noise or dust.

To develop the electric motorbike market, in late October, VinFast joined forces with PV Oil to set up a high number of battery charging and leasing stations for smart motorbikes and cars.

Under the agreement, VinFast will install its stations at 600 PV Oil’s existing filling stations.

The two-wheel electric vehicle market has been growing very rapidly, according to the Market Management Agency under the Ministry of Industry and Trade. 

There are over 3 million 2-wheel vehicles in circulation, 70 percent of which are electric motorbikes. The figure is too small compared with the motorbike market, but this is a sector with great potential.

An analyst said that it’s now the time for investors to join the electric motorbike market, when the demand is on the rise and the market lacks strong brands. The products in circulation now are mostly from China and Taiwan.

According to the National Traffic Safety Commission, Vietnam buys 300,000 electric bicycles and motorbikes out of total 3 million motorbikes sold each year.

Meanwhile, Vietnam Auto Motorcycle and Bicycle Association (VAMOBA) reported that 500,000 electric motorbikes and bicycles were bought in 2017, an increase of 30 percent over 2016.

Previously, foreign brands controlled 90 percent of the electric motorbike market, while 80-90 percent of them were smuggled. 

Asked about the prospects of the electric motorbike market, Mickael Orain from Piaggio said clean vehicles will be the trend in the future. However, it was still too early to give a precise assessment about the market potential and development.  Piaggio is planning to sell its Vespa Elettrica model in Vietnam, slated for Q2 2019.

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