VinFast sells nearly 235,000 electric two-wheelers

VinFast's third-quarter revenue report shows that electric two-wheelers continued to be the segment helping the company stay on top, placing Vietnam among the world's three largest electric motorcycle markets. Specifically, VinFast delivered 120,052 electric motorcycles and e-bikes of various types in the third quarter, up 535% from the same period last year and 73% from the second quarter.

In the first nine months of the year, the company delivered a cumulative 234,536 electric two-wheelers, up 489% from the same period last year. Most of VinFast's electric two-wheeler sales come from Vietnam, as the company only sells the Drgnfly electric bicycle in the U.S.

Vietnam's electric motorcycle market is currently the world's third largest by sales and the largest in Southeast Asia, according to Motorcycles Data. Within that, consumer demand for electric motorcycles rose the most, with models under 4 kW (no license required) up 89% and models above 4 kW (license required) up as much as 197%.

According to industry experts, demand for electric motorcycles has grown strongly in recent years because of their lower operating costs compared with gasoline-powered bikes. Electric motorcycles cost less to charge than traditional motorcycles cost to refuel. The ability to charge at home or in apartment basements has also made these vehicles easier to adopt more quickly than electric cars.

Sales of VinFast's electric motorcycle segment are expected to maintain rapid growth through the end of the year, thanks to its product diversification strategy, support for users switching from gasoline-powered to electric vehicles, and a series of incentives and demand-stimulus programs.

In mid-October, VinFast launched a line of electric motorcycles with two batteries. All three new models — Vero X, Feliz and Feliz Lite — have one fixed battery and one removable battery, doubling travel range compared with before. These models can deliver a range of up to 262 km on a full charge, and the removable battery is priced at VND 5 million.

In early November, the company continued with the launch of two license-exempt electric motorcycle models, Zgoo and Flazz, targeting students. Priced at VND 14.9 million and VND 16 million respectively, they are the cheapest models using LFP batteries, while rivals in the same price range typically use lead-acid batteries, which have shorter lifespans and lower travel ranges.

In mid-November, VinFast launched a lucky-draw program with total prizes worth VND 27.5 billion for buyers of electric motorcycles. Each buyer receives an entry into the lucky draw, with a total of 1,003 prizes to be awarded. In addition to this program, the Vietnamese EV maker is offering a 10% discount on vehicle prices and support for registration fees equivalent to 2% of the vehicle price. VinFast's partner banks and financial institutions also offer loans of up to 90% of the vehicle price, allowing users to receive their vehicle with zero upfront capital. V-Green's electric vehicle charging stations are also open free of charge to users until May 31, 2027.

Recently, Directive 20 issued by the Prime Minister required Hanoi to set out a roadmap to ban internal combustion engine (ICE) motorcycles from July 2026. Ho Chi Minh City also plans to restrict ICE motorcycles and prioritize zero-emission vehicles. Following this information, in addition to VinFast, many electric two-wheeler manufacturers have increased promotional programs to stimulate demand, such as price cuts, free accessories and support for exchanging gasoline-powered motorbikes for electric ones...