Danish Investor Injects $1 Million into Vietnam's Motorcycle Maintenance Market

During the signing ceremony, Poul Wiid, the CEO of Green Tech Aps Denmark, highlighted the untapped potential of Vietnam’s motorcycle service industry. With approximately 72 million motorcycles in the country, Vietnamese people spend an average of VND800,000 to VND1 million per motorcycle annually on repair and maintenance, resulting in a market value of VND58-72 trillion. This has attracted the interest of various businesses. However, the current market is dominated by small-scale repair shops that often use substandard spare parts and counterfeit products, leading to dissatisfaction among motorcyclists.

To address these issues, Green Tech Aps Denmark has invested $1 million in True Moto Care Vietnam. As a consulting engineering company, Green Tech aims to establish standardized services for motorcycle maintenance and repair. They will provide management support, enhance service quality at True Moto Care’s chain stores, train personnel with the help of experts, and foster partnerships with European lubricant and spare part manufacturers. In return, True Moto Care Vietnam is developing a mobile app for customers to conveniently book motorcycle repair appointments. The company already collaborates with reputable brands such as Shell, GS, IRC, and NGK.