Vietnam battery, EV maker nets $3 mln from ADB Ventures, others.

Tính năng số lùi của Selex Camel đánh bật các dòng xe khác 11

Selex, a Vietnamese maker of electric two-wheelers and battery packs, has raised $3 million in a convertible note round from the Asian Development Bank’s venture capital arm ADB Ventures and other investors.

ADB said Thursday that ADB Ventures has signed a deal to invest in the Hanoi-based startup to reduce carbon emissions in high-usage applications such as last-mile cargo and passenger transport in Vietnam. It did not disclose ADB Ventures’ investment capital.

“The electrification of road transport will have a profound impact on the automotive manufacturing and logistics sectors in Southeast Asia. We are proud to have been part of Selex’s journey from the very beginning, and look forward to helping it to become an important regional player in the sustainable transport market in coming years,” said Suzanne Gaboury, ADB director general for private sector operations.

Selex CEO Nguyen Huu Phuoc said, “ADB’s unwavering support reaffirms our common goal of combating climate change and provides an important boost to our business. This investment will provide us with a strong foothold in Vietnam and a platform for our expansion into other parts of the region.”

Vietnamese venture capital firm Touchstone Partners and two foreign investment funds are the co-investors in the round like ADB Ventures.

In December 2021, ADB Ventures provided a $200,000 grant to Selex with an option to make an equity investment in the company.

ADB Ventures invests in early-stage technology companies that have significant potential to scale and deliver climate impact in emerging Asia and the Pacific. Its investors include Finland’s Ministry for Foreign Affairs, the Government of South Korea, the Korea Venture Investment Corporation, the Clean Technology Fund, and the Nordic Development Fund.

Each gasoline motorbike replaced by a Selex electric two-wheeler can cut the emission of 0.45 tons of carbon dioxide equivalent a year, says ADB. The company also aims to utilize the fund to expand its two-wheeler production lines and set up battery-swapping systems in key cities in Vietnam, solidifying Selex’s position as the nation’s first and largest battery-swapping network provider.

Established in 2018, Selex specializes in producing electric two-wheelers and swappable battery packs that are purpose-built for large applications, including last-mile cargo delivery. Selex’s existing clients include regional delivery aggregators, such as Lazada and Grab, which require a single solution provider that can facilitate their transition to a cost-effective and reliable electric vehicle fleet with charging infrastructure to support their operations.

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Register to test drive Selex electric scooter

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With a new scooter, customers will receive warranty coverage and replacement of parts according to the manufacturer’s policy, if the warranty period is still valid. The standard warranty period for Selex Motors’ electric scooters and batteries is 30,000 km from the retail sale date to the customer or 3 years from the wholesale invoice date to the authorized dealer, whichever comes first.

Selex’s electric scooters come with a charger that you can use to charge the battery at home, but the battery is not included. You can purchase or rent a battery separately.

You will receive the product within approximately 2 weeks from the date of placing the order, but the actual delivery time may vary depending on demand.

You can register for the battery rental service here, or contact Selex via the hotline at 0977209980, or through our Facebook page, website, or app. Our team will get in touch with you as soon as possible.

The installment payment policy is being prepared and will be applied as soon as possible.

The electric motorcycles from Selex will be serviced every 6 months (5000km) per time.

In some cases of unexpected incidents that prevent customers from bringing their Selex electric scooter to the Selex service center, customers only need to contact our hotline and our staff will provide enthusiastic advice and support anytime, anywhere.

Contact information:
• 24/7 rescue team: 097 720 99 80

You can download the Selex Motors app here. Then follow these steps:
Step 1: Log in to your account with your username and password
Step 2: In the navigation bar, select Selex Station
Step 3: View the map. At your current location, the map will show the nearby stations. Alternatively, you can view the station system in other districts.

Yes, you can contact Selex to change your service package for battery swapping while renting the battery.

1. Just replace the battery at Selex’s replacement station, and it only takes you 2 minutes to fully charge your electric scooter.
2. If you charge at home, it will take 5-8 hours.

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