Haybike’s bamboo e-bicycles win wider acceptance
Vietnamese electric bicycle maker Haybike is seeking to make inroads into the niche market as more and more people prefer cycling as a green living trend. The Investor talks with Haybike CEO Nguyen Van Tuyen about his company's endeavor in its pursuit.

The market already has many established electric bicycle brands like Giant, Panasonic, and Yamaha PAS. What makes Haybike any different?
Competing with big brands is tough because Giant, Panasonic, Yamaha and others have many years of experience and utilize high technology. A great deal of money is required, for both technology and marketing, not to mention patience in achieving a break-even point. Therefore, we have followed our own path.
Bamboo is a very typical Vietnamese material, and can be exploited in large amounts. It is strong, durable, flexible and hard. It is cheap but as hard as steel, and more flexible than steel. Haybike uses bamboo to make e-bikes while other brands do not.
We put Vietnamese emotion and soul into our bamboo products, which are cheaper on the domestic market than some imported equivalents.
Design is also extremely important, which we align with Vietnamese preferences. We use software to determine the height of an e-bike, seating position, body length and size, age, and if a customer is male or female, etc.
Haybike was born in Vietnam and understands the Vietnamese market well. That’s how Haybike is able to create different experiences. Our customers are also spreading our message of green living, environmental protection and social responsibility.
For any manufacturer, it is not possible to guarantee 100% error-free products. Our customer care solutions are aimed at any problems that may occur.
Using bamboo might raise concerns over product safety. How would you address this?
We have succeeded in ensuring product safety in using the friendly and renewable material. Bamboo is an organic material, not metal. Technical solutions are required to deal with bamboo-related problems like decay, or weathering. It is a relatively complicated process, but Haybike has solved these problems to create durable products.
The product life cycle of Haybike is 12 years. Under favorable weather conditions, durability could reach 20 years. However, 12 years is our benchmark and could be considered a long life cycle for a bicycle.

A Haybike product. Photo courtesy of the company.
Petrol prices are on the rise, and more and more Vietnamese are growing aware of eco-friendly living. Do you see this as an advantage for e-bike producers?
Generally speaking, people in Vietnam and worldwide are becoming more eco-friendly. Cycling is getting more popular in Europe, which used to depend on cars. Currently, the Netherlands population is about 17 million, with 23 million bicycles in use.
Vietnam is also in the process of development and will reach the peak of bicycles by 2030. After two years of Covid-19 outbreaks, cycling has expanded very quickly. Bicycle producers in Vietnam and all over the world have recently experienced supply shortages, with higher production capacities required.
Our own forecast for the Vietnamese market peak is 2025 instead of 2030. We also expect sustainable growth to follow.
Regarding bamboo, we think using it to make bicycles could create greater value compared to other products.
As for increasing petrol prices worldwide, I see electric cars, cycling and public transport as alternatives to deal with the problem.
What is the biggest challenge you’ve faced in developing Haybike?
During the two-year pandemic, despite high market demand, the supply chain of materials and spare parts was broken in Vietnam and Europe, causing production disruptions and sales decrease.
Your products are already available in the EU and North America. Please tell us about your experience in penetrating these markets?
When approaching overseas markets, we faced many challenges due to the higher demand for quality products.
We signed a sponsorship contract with the Heerenveen football club in the Netherlands for them to use our bamboo bike. It was one of our initial steps into Europe.
Customers in these markets are very practical, extremely specific, and are strict on requirements. If we failed to pay attention we could face costly legal issues. We are fortunate to have partners that understand the European market well.
What are your forecast on the electric bicycle markets in Vietnam and Southeast Asia?
Post-pandemic demand in Vietnam and the region is increasing dramatically. According to our research, the domestic market has reached VND7,500 billion (over $320 million) and growing at an average of 30% per year. The Southeast Asian market is larger in size and similar in growth.
What could foreign businesses achieve by partnering with Haybike?
Haybike wishes to team up with reputable and potential partners in foreign countries. Together, we can create more products of higher quality. Partnerships could help us supply the overseas market, including with production technology.
- Read More
Chinese companies seek to further partner with Vietnam Electricity
Several Chinese companies met with state utility Vietnam Electricity (EVN) between May 27 and June 12, seeking more cooperation opportunities.
Companies - Tue, June 17, 2025 | 3:50 pm GMT+7
Unilever to expand investment capital at southern Vietnam plant to $105 mln
Unilever Vietnam plans to raise the investment capital of its factory in Ho Chi Minh City, a southern metropolis, to VND2.7 trillion ($104.5 million), according to a recent environmental impact assessment report.
Industries - Tue, June 17, 2025 | 2:45 pm GMT+7
VAT in Vietnam cut to 8% for July 2025-Dec 2026 period
The National Assembly, Vietnam's legislature, has reduced the VAT rate from 10% to 8% for goods and services from July 1, 2025 to December 31, 2026.
Economy - Tue, June 17, 2025 | 2:13 pm GMT+7
Subsidiaries, affiliates ineligible for preferential corporate income tax in Vietnam
Subsidiaries and affiliates of enterprises in Vietnam will not be eligible for preferential corporate income tax (CIT) rates of 15-17%, starting from October 1, a move aimed to prevent abuse of incentives.
Economy - Tue, June 17, 2025 | 1:26 pm GMT+7
Vietnam Airlines to launch direct routes to Northern Europe, Italy
Vietnam Airlines will open a direct route from Vietnam to Italy on July 1, and another to Northern Europe on December 15, expanding its network to European countries, the national flag carrier stated on Monday.
Companies - Tue, June 17, 2025 | 12:05 pm GMT+7
Vietnam tightens rules on private placement bond issuance
Vietnamese businesses will only be permitted to issue private placement bonds if their total liabilities do not exceed five times their equity, according to a newly adopted law.
Finance - Tue, June 17, 2025 | 11:44 am GMT+7
Vietnamese property major Hoang Huy’s subsidiary eyes HCMC bourse listing in H2
CRV Real Estate Group JSC, a member of Vietnam's major property developer Hoang Huy Group (TCH), seeks to list its shares on the Ho Chi Minh City Stock Exchange (HoSE) in the second half of this year.
Real Estate - Tue, June 17, 2025 | 8:52 am GMT+7
Southern Vietnam province Kien Giang seeks private investment for 40 key projects
The Mekong Deleta province of Kien Giang has announced a list of 40 projects calling for private investment in 2025, with total capital of over VND226.7 trillion ($8.7 billion).
Industries - Mon, June 16, 2025 | 11:45 pm GMT+7
ASEAN poised for greater role in global economy
ASEAN could emerge as the world's fourth-largest economy in the coming decades but the regional bloc must accelerate integration, strengthen institutions, and adapt to global shifts to realize this potential, experts have said.
Southeast Asia - Mon, June 16, 2025 | 11:34 pm GMT+7
Indonesia prioritizes private investment in infrastructure projects
Indonesian President Prabowo Subianto has emphasised that Indonesia will facilitate greater participation of both domestic and international private companies in infrastructure development, aiming to ensure equitable growth opportunities and advance the country’s “Golden Indonesia 2045” vision.
Southeast Asia - Mon, June 16, 2025 | 11:30 pm GMT+7
Honda Vietnam reports strong growth in motorcycle and car sales
Honda Vietnam (HVN) recorded significant sales growth in both motorcycle and automobile segments in May 2025, with year-on-year increases of 8.2% and 25.9%, respectively.
Companies - Mon, June 16, 2025 | 11:24 pm GMT+7
Vietnam’s rice export prices fall nearly 19% despite growing volume
Vietnam’s rice industry is facing a steep drop in export prices, even as shipment volumes climb, underscoring the challenges of a volatile global grain market.
Companies - Mon, June 16, 2025 | 11:20 pm GMT+7
Vietnam Airlines invests $69 mln in 2 projects at Long Thanh airport
National flag carrier Vietnam Airlines on Sunday kicked off construction on an in-flight catering facility and an aircraft maintenance complex at the under-construction Long Thanh International Airport in southern Vietnam, with a total investment of nearly VND1.8 trillion ($69 million).
Infrastructure - Mon, June 16, 2025 | 9:41 pm GMT+7
Prime Minister okays 1,881-hectare free trade zone in central Vietnam
Prime Minister Pham Minh Chinh has approved the establishment of Danang Free Trade Zone (FTZ), which will cover approximately 1,881 hectares across seven non-contiguous locations.
Economy - Mon, June 16, 2025 | 9:25 pm GMT+7
Vietnam parliament passes historic revised law on local government organisation, establishing two-tier model
The National Assembly, Vietnam's legislature, on Monday endorsed the revised Law on Local Government Organization, with 100% of the 466 members present voting in favor.
Politics - Mon, June 16, 2025 | 5:01 pm GMT+7
Vietnamese fruit and vegetable export to EU grows 33% in 4 months
Vietnamese fruits and vegetables such as mangoes, pistachios, pineapples, and coconuts are gaining popularity in the European market, with export revenues rising sharply in Jan-April by as much as 41% to 200% year-on-year.
Economy - Mon, June 16, 2025 | 4:19 pm GMT+7