Selex Motors
Overview
Selex Motors is a Vietnamese electric vehicle company specializing in the development of a comprehensive ecosystem for electric two-wheelers, including electric scooters, battery swapping stations, and an IoT-based management platform. The company was founded in 2018 by Dr. Nguyen Huu Phuoc Nguyen, Dr. Nguyen Trong Hai, and Mr. Nguyen Dinh Quang, and is based in Hanoi, Vietnam. With significant funding from investors like ADB Ventures and Touchstone Partners, Selex aims to drive sustainable development through its innovative energy solutions.
Recent Developments
- June 2025: Selex Motors signed a strategic agreement with BE Group to transition 3,000 drivers to electric motorbikes. This collaboration includes rental, purchase, financing, maintenance, and battery services to optimize costs for drivers.
- May 2025: At the French Tech Summit in Vietnam, Selex showcased its smart electric motorcycles and new battery swapping solutions, attracting interest for international expansion.
- April 2025: Selex Motors secured a $3 million pre-Series A funding round aimed at expanding product offerings and market reach.
- March 2025: Selex partnered with Baemin to use Selex Camel two-wheelers for delivery, improving operational costs and efficiency with fast battery changes.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Hanoi, Vietnam |
| Founders | Dr. Nguyen Huu Phuoc Nguyen, Dr. Nguyen Trong Hai, Mr. Nguyen Dinh Quang |
| Revenue | Not Publicly Disclosed |
| Profits | Not Publicly Disclosed |
| Key Investors | ADB Ventures, Sopoong Ventures, Touchstone Partners, Nextrans |
| Industry | Electric Vehicles |
| Number of Employees | Not Publicly Disclosed |
Early History
Selex Motors was established in 2018 with the vision of promoting sustainable urban mobility in Vietnam. Co-founders Dr. Nguyen Huu Phuoc Nguyen, Dr. Nguyen Trong Hai, and Mr. Nguyen Dinh Quang converged their expertise in mechanical engineering and IoT systems to tackle the challenges associated with electric vehicles, such as high costs and lengthy charging times. The company introduced an innovative ecosystem that consists of electric motorbikes, battery swapping stations, and a management app, aiming to make EVs convenient and accessible.
Company Profile and Achievements
Selex Motors operates through a model focused on creating a sustainable urban transport ecosystem, facilitating a shift from traditional gasoline-powered vehicles to electric alternatives. Notable achievements include:
- 2019: Launched its first consumer electric scooter model as well as a universal battery pack and swapping stations, changing the landscape for EV ownership by reducing charging times.
- 2020: Developed battery swapping stations that were deployed in major Vietnamese cities, enhancing convenience for EV users.
- 2023: Successfully raised $3 million in a convertible note investment round.
- 2023: Hosted a significant event with US Treasury Secretary Janet L. Yellen, highlighting global interest in their innovative solutions.
Current Operations and Market Position
Selex Motors is at the forefront of Vietnam's electric mobility landscape, focusing on providing integrated solutions that include electric scooters, automated battery swapping, and digital fleet management systems. Their smart battery swapping technology notably reduces charging time to under two minutes. The company is enhancing its market presence with strategic partnerships and international collaboration, particularly noticeable at events like the French Tech Summit Vietnam 2025.
Conclusion
Selex Motors has established itself as a key player in the Vietnamese electric vehicle industry by introducing innovative solutions that address major EV adoption barriers. Their continued partnerships and groundbreaking technologies promise to further their mission of supporting Vietnam's transition to cleaner energy and sustainable urban mobility. With solid financial backing and a strong strategic outlook, Selex Motors is poised to expand its influence both domestically and potentially on an international stage, contributing significantly towards sustainable urban transport transformation.