VinFast's Q3 revenue report highlights two-wheeled electric vehicles as a key segment, positioning Vietnam among the top three largest electric motorcycle markets globally. Specifically, VinFast delivered 120,052 electric motorcycles and bicycles in Q3, a 535% increase compared to the same period last year and a 73% rise from Q2.

Residents at an event to exchange gasoline vehicles for electric vehicles. Photo: Tuan Vu

Residents at an event to exchange gasoline vehicles for electric vehicles. Photo: Tuan Vu

For the first nine months of the year, the company handed over 234,536 two-wheeled electric vehicles, marking a 489% increase over the same period last year. Most of VinFast's two-wheeled electric vehicle sales originated from Vietnam, as the company only sells Drgnfly electric assist bicycles in the US.

The electric motorcycle market in Vietnam is currently the third largest globally by sales and leads the Southeast Asian region, according to Motorcycles Data. Demand for electric motorcycles has grown significantly, with models under 4 kW (not requiring a driver's license) increasing by 89% and models over 4 kW (requiring a driver's license) surging by 197%.

Industry experts attribute the high growth in electric motorcycle demand to their lower operating costs compared to gasoline vehicles. Electric motorcycles require less money for charging than traditional gasoline motorcycles for fuel. The ability to charge electric vehicles at home or in apartment basements also contributes to their quicker acceptance than electric cars.

A ride-hailing driver registers to exchange a gasoline vehicle for a VinFast Evo200 electric model at an event. Photo: Tuan Vu

A ride-hailing driver registers to exchange a gasoline vehicle for a VinFast Evo200 electric model at an event. Photo: Tuan Vu

VinFast's electric motorcycle sales are projected to accelerate from now until the end of the year. This growth is driven by a strategy of product diversification, initiatives supporting users in transitioning from gasoline to electric vehicles, and a series of promotional programs to stimulate demand.

In mid-october, VinFast launched a new line of two-battery electric motorcycles. The three new models, Vero X, Feliz, and Feliz Lite, feature one fixed battery and one removable battery, effectively doubling their travel range. These models can achieve a range of up to 262 km on a single full charge, with the removable battery priced at 5 million VND.

In early november, the company further introduced two electric motorcycle models, Zgoo and Flazz, which do not require a driver's license. These models target students. Priced at 14,9 and 16 million VND respectively, they are the most affordable LFP battery-equipped models, while competitors in the same price range typically use lead-acid batteries, which have a shorter lifespan and lower travel range.

The removable battery placed in the trunk of the Feliz electric motorcycle helps double the travel range. Photo: Tuan Vu

The removable battery placed in the trunk of the Feliz electric motorcycle helps double the travel range. Photo: Tuan Vu

In mid-november, VinFast launched a prize program totaling 27,5 billion VND for electric motorcycle buyers through a lucky draw. Each buyer receives a lucky draw entry, with a total of 1,003 prizes to be awarded. In addition to this program, the Vietnamese electric vehicle manufacturer is offering a 10% discount on vehicle prices and supporting registration fees equivalent to 2% of the vehicle price. VinFast's banking and financial partners also provide loan support of up to 90% of the vehicle price, enabling users to acquire a vehicle with zero dong in matching capital. Furthermore, V-Green's electric vehicle charging stations are offering free access to users until 31/5/2027.

Recently, Directive 20 from the Prime Minister mandated Ha Noi to establish a roadmap for banning internal combustion engine (ICE) motorcycles starting from july 2026. TP HCM also plans to restrict ICE motorcycles, prioritizing zero-emission vehicles. Following this announcement, many two-wheeled electric vehicle manufacturers, including VinFast, have intensified promotional programs to boost demand, offering discounts, free accessories, and trade-in support for gasoline vehicles to electric ones.

Quang Anh