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Vietnam E-bike Market– Size, Share, Trends, Growth & Forecast 2025–2034

Vietnam E-bike Market– Size, Share, Trends, Growth & Forecast 2025–2034

Published Date: August, 2025
Base Year: 2024
Delivery Format: PDF+Excel
Historical Year: 2018-2023
No of Pages: 166
Forecast Year: 2025-2034

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Market Overview

The Vietnam e-bike market represents one of Southeast Asia’s most dynamic and rapidly evolving transportation sectors, driven by urbanization, environmental consciousness, and technological advancement. Vietnam’s e-bike industry has experienced remarkable transformation over the past decade, establishing itself as a critical component of the country’s sustainable mobility ecosystem. The market encompasses various electric bicycle categories, from traditional pedal-assist models to high-performance electric motorcycles, catering to diverse consumer preferences and transportation needs.

Market dynamics indicate substantial growth potential, with the sector experiencing a compound annual growth rate (CAGR) of 12.5% over recent years. This expansion reflects Vietnam’s strategic positioning as both a manufacturing hub and a rapidly growing consumer market for electric mobility solutions. The convergence of favorable government policies, increasing environmental awareness, and rising fuel costs has created an optimal environment for e-bike adoption across urban and rural areas.

Consumer adoption patterns reveal significant shifts in transportation preferences, particularly among younger demographics and urban professionals. The market benefits from Vietnam’s robust manufacturing capabilities, with numerous domestic and international companies establishing production facilities to serve both local and export markets. Regional distribution shows concentrated demand in major metropolitan areas like Ho Chi Minh City and Hanoi, while rural adoption continues to accelerate as infrastructure development progresses.

Meaning

The Vietnam e-bike market refers to the comprehensive ecosystem encompassing the production, distribution, sales, and servicing of electric bicycles and electric motorcycles within Vietnam’s borders. This market includes various stakeholders, from manufacturers and importers to retailers and service providers, all contributing to the electric mobility value chain. E-bikes in Vietnam represent a diverse category of electric-powered two-wheelers, ranging from lightweight pedal-assist bicycles to powerful electric scooters and motorcycles designed for urban commuting and recreational use.

Market definition extends beyond mere vehicle sales to encompass supporting infrastructure, including charging stations, battery technology, maintenance services, and regulatory frameworks. The Vietnamese e-bike market operates within a unique cultural and economic context, where two-wheeled transportation has traditionally dominated urban mobility patterns. Electric mobility solutions in Vietnam serve as alternatives to conventional gasoline-powered motorcycles, offering environmental benefits, reduced operating costs, and enhanced convenience for daily transportation needs.

Executive Summary

Vietnam’s e-bike market stands at a pivotal juncture, characterized by accelerating adoption rates, technological innovation, and supportive policy environments. The sector demonstrates robust growth fundamentals, with urban adoption rates reaching approximately 18% penetration in major cities. Government initiatives promoting clean transportation have catalyzed market expansion, while declining battery costs and improved technology have enhanced product accessibility and performance.

Key market drivers include environmental regulations, traffic congestion mitigation, and economic factors favoring electric alternatives over traditional fuel-powered vehicles. The market benefits from Vietnam’s position as a global manufacturing hub, attracting significant foreign investment in production facilities and research and development centers. Consumer preferences increasingly favor sustainable transportation options, with 65% of potential buyers citing environmental concerns as primary purchase motivators.

Competitive landscape features a mix of established international brands and emerging domestic manufacturers, creating dynamic market conditions that drive innovation and competitive pricing. The sector faces challenges related to charging infrastructure development, battery technology advancement, and regulatory standardization, while opportunities exist in rural market penetration and export potential.

Key Market Insights

Strategic market analysis reveals several critical insights shaping Vietnam’s e-bike industry trajectory. The market demonstrates strong correlation between economic development and e-bike adoption, with higher-income urban areas leading consumption patterns. Technology preferences show increasing demand for smart features, including GPS navigation, smartphone connectivity, and advanced battery management systems.

  1. Urban Mobility Transformation: E-bikes are reshaping urban transportation patterns, offering efficient solutions for last-mile connectivity and reducing dependence on traditional motorcycles
  2. Manufacturing Excellence: Vietnam’s established manufacturing capabilities position the country as a regional production hub for electric mobility solutions
  3. Policy Support: Government initiatives promoting clean energy and sustainable transportation create favorable conditions for market expansion
  4. Consumer Evolution: Changing demographics and lifestyle preferences drive demand for environmentally conscious transportation alternatives
  5. Infrastructure Development: Expanding charging networks and improved urban planning support e-bike integration into existing transportation systems
  6. Export Potential: Vietnam’s strategic location and manufacturing capabilities create opportunities for regional market expansion
  7. Technology Integration: Advanced features and smart connectivity enhance user experience and drive premium segment growth
  8. Rural Opportunities: Untapped rural markets present significant growth potential as infrastructure development progresses

Market Drivers

Environmental consciousness serves as a primary catalyst for Vietnam’s e-bike market growth, with increasing awareness of air pollution and climate change impacts driving consumer behavior changes. Government environmental policies actively promote electric vehicle adoption through incentives, subsidies, and regulatory frameworks that favor clean transportation alternatives. The rising cost of gasoline and traditional fuel sources makes e-bikes economically attractive for daily commuting and transportation needs.

Urbanization trends create ideal conditions for e-bike adoption, as dense city environments favor compact, efficient transportation solutions over larger vehicles. Traffic congestion in major Vietnamese cities motivates consumers to seek alternative mobility options that offer greater maneuverability and reduced travel times. Technological advancement in battery technology, motor efficiency, and smart features enhances e-bike appeal and functionality for diverse user requirements.

Economic factors including rising disposable incomes and changing lifestyle preferences support market expansion, particularly among younger demographics who prioritize convenience and environmental responsibility. The development of supporting infrastructure, including charging stations and maintenance networks, reduces barriers to e-bike adoption and enhances user confidence in electric mobility solutions.

Market Restraints

Infrastructure limitations present significant challenges for Vietnam’s e-bike market expansion, particularly regarding charging station availability and distribution networks outside major urban centers. Battery technology concerns including limited range, charging time requirements, and replacement costs create hesitation among potential consumers considering e-bike purchases. Initial purchase prices for quality e-bikes remain higher than traditional motorcycles, creating affordability barriers for price-sensitive consumer segments.

Regulatory uncertainties surrounding e-bike classification, licensing requirements, and safety standards create market confusion and may delay adoption decisions. Limited consumer awareness about e-bike benefits, maintenance requirements, and long-term cost savings restricts market penetration in certain demographic segments. Quality concerns regarding cheaper imported models and lack of standardized safety certifications affect consumer confidence and market reputation.

Cultural preferences for traditional motorcycles and established transportation habits create resistance to change among certain consumer groups. Seasonal weather patterns and monsoon conditions in Vietnam can impact e-bike usability and consumer perception of electric mobility reliability for year-round transportation needs.

Market Opportunities

Rural market expansion represents substantial untapped potential for Vietnam’s e-bike industry, as infrastructure development and economic growth extend electric mobility benefits to previously underserved areas. Export opportunities leverage Vietnam’s manufacturing capabilities and strategic location to serve regional Southeast Asian markets with growing demand for electric transportation solutions. The development of specialized e-bike categories for delivery services, tourism, and commercial applications creates new market segments with distinct growth potential.

Technology integration opportunities include smart city initiatives, IoT connectivity, and advanced battery management systems that enhance user experience and operational efficiency. Partnership opportunities with ride-sharing platforms, delivery services, and tourism operators can accelerate market adoption and create new business models. Government infrastructure investments in charging networks and urban planning initiatives that prioritize sustainable transportation create favorable conditions for market expansion.

Innovation opportunities in battery technology, lightweight materials, and energy-efficient designs can differentiate Vietnamese e-bike manufacturers in competitive global markets. The growing emphasis on corporate sustainability and environmental responsibility creates opportunities for B2B sales to companies seeking to reduce their carbon footprint through employee transportation programs.

Market Dynamics

Supply chain dynamics in Vietnam’s e-bike market reflect the country’s position as both a manufacturing hub and growing consumer market, with complex interactions between domestic production, imports, and exports. Competitive pressures drive continuous innovation in product features, pricing strategies, and market positioning as established brands compete with emerging manufacturers for market share. The market experiences seasonal fluctuations related to weather patterns, economic cycles, and consumer purchasing behaviors that influence demand patterns throughout the year.

Technological evolution creates dynamic market conditions as advances in battery technology, motor efficiency, and smart features continuously reshape consumer expectations and competitive landscapes. Regulatory developments including safety standards, environmental regulations, and urban planning policies significantly impact market dynamics and strategic decision-making for industry participants. According to MarkWide Research analysis, market dynamics indicate increasing consolidation among manufacturers while distribution channels become more sophisticated and consumer-focused.

Price competition intensifies as market maturity increases, driving manufacturers to optimize production efficiency and develop differentiated value propositions. Consumer behavior patterns show increasing sophistication in e-bike selection criteria, with buyers considering factors beyond price including brand reputation, after-sales service, and technological features.

Research Methodology

Comprehensive market research for Vietnam’s e-bike industry employs multiple methodological approaches to ensure accurate and reliable market intelligence. Primary research includes structured interviews with industry executives, manufacturers, distributors, and consumers to gather firsthand insights about market trends, challenges, and opportunities. Survey methodologies target diverse demographic segments across urban and rural areas to understand adoption patterns, preferences, and barriers to e-bike usage.

Secondary research incorporates analysis of government statistics, industry reports, trade publications, and regulatory documents to establish market context and validate primary findings. Quantitative analysis utilizes statistical modeling and trend analysis to project market growth patterns and identify key performance indicators. Field research includes retail outlet visits, product demonstrations, and competitive analysis to assess market positioning and consumer response patterns.

Data validation processes ensure research accuracy through cross-referencing multiple sources, expert consultations, and statistical verification methods. The methodology incorporates both historical data analysis and forward-looking projections to provide comprehensive market understanding for strategic decision-making purposes.

Regional Analysis

Northern Vietnam demonstrates strong e-bike adoption centered around Hanoi and surrounding urban areas, with market penetration rates reaching approximately 22% in metropolitan regions. The region benefits from government presence, policy development, and infrastructure investments that support electric mobility initiatives. Consumer preferences in northern markets tend toward premium features and established international brands, reflecting higher average incomes and technology awareness.

Southern Vietnam leads national e-bike consumption, with Ho Chi Minh City serving as the primary market driver and accounting for 35% of national sales volume. The region’s commercial activity, dense urban population, and traffic congestion create ideal conditions for e-bike adoption across various user segments. Manufacturing concentration in southern provinces supports both domestic consumption and export activities, creating integrated value chains that enhance market efficiency.

Central Vietnam represents emerging market opportunities with growing urban centers and improving infrastructure supporting e-bike adoption. Rural areas across all regions show increasing interest in electric mobility solutions as economic development and infrastructure improvements make e-bikes more accessible and practical for daily transportation needs. Regional distribution patterns indicate gradual market expansion from urban centers to suburban and rural areas as awareness and infrastructure develop.

Competitive Landscape

Market leadership in Vietnam’s e-bike sector features a diverse mix of international brands, domestic manufacturers, and emerging startups competing across various market segments. Established players leverage brand recognition, distribution networks, and technological capabilities to maintain market position while newer entrants focus on innovation, competitive pricing, and niche market opportunities.

  1. VinFast – Vietnam’s leading automotive manufacturer expanding into electric mobility with comprehensive e-bike and electric scooter offerings
  2. Honda Vietnam – Established motorcycle manufacturer introducing electric models to complement traditional product lines
  3. Yamaha Motor Vietnam – International brand leveraging manufacturing capabilities and market presence for electric vehicle expansion
  4. Pega – Domestic electric vehicle specialist focusing on innovative designs and local market preferences
  5. DK Bike – Vietnamese manufacturer emphasizing affordable electric mobility solutions for mass market adoption
  6. Anbico – Local producer specializing in electric bicycles and lightweight mobility solutions
  7. Giant Vietnam – International bicycle manufacturer expanding electric bike offerings for Vietnamese consumers
  8. Merida Vietnam – Global brand providing premium electric bicycle options for enthusiast and commuter segments

Competitive strategies include product differentiation, pricing optimization, distribution network expansion, and after-sales service enhancement to capture market share and build customer loyalty in the growing Vietnamese e-bike market.

Segmentation

Product segmentation in Vietnam’s e-bike market encompasses diverse categories designed to meet varied consumer needs and preferences. Electric bicycles represent traditional pedal-assist models popular among recreational users and environmentally conscious commuters seeking exercise benefits combined with electric assistance. Electric scooters provide higher-powered alternatives for urban commuting with minimal physical effort requirements and greater speed capabilities.

By Technology:

  • Pedal-Assist Systems: Traditional e-bikes requiring pedaling input with electric motor assistance for enhanced performance
  • Throttle-Controlled Models: Electric scooters and motorcycles operated primarily through throttle control with minimal pedaling requirements
  • Hybrid Systems: Advanced models combining pedal-assist and throttle control for maximum versatility and user preference accommodation

By Application:

  • Personal Transportation: Individual commuting and recreational use representing the largest market segment
  • Commercial Delivery: Last-mile delivery services and logistics applications driving commercial segment growth
  • Tourism and Recreation: Rental services and recreational activities supporting tourism industry development
  • Shared Mobility: Bike-sharing programs and rental platforms creating new business models and usage patterns

Category-wise Insights

Premium segment e-bikes demonstrate strong growth potential among affluent urban consumers seeking advanced features, superior build quality, and established brand reputation. This category benefits from technological innovation including smart connectivity, GPS navigation, and advanced battery management systems that justify higher price points. Consumer preferences in premium segments emphasize design aesthetics, performance capabilities, and comprehensive warranty coverage.

Mass market category represents the largest volume segment, focusing on affordability, reliability, and basic functionality to serve price-sensitive consumers. Domestic manufacturers compete effectively in this segment through cost optimization, local market understanding, and efficient distribution networks. Feature priorities include battery life, charging convenience, and maintenance simplicity rather than advanced technological capabilities.

Commercial applications create specialized market opportunities with distinct requirements for durability, payload capacity, and operational efficiency. Delivery services drive demand for purpose-built e-bikes designed for frequent use, cargo carrying, and urban navigation challenges. Tourism applications emphasize comfort, ease of use, and aesthetic appeal to enhance visitor experiences and support sustainable tourism initiatives.

Key Benefits for Industry Participants and Stakeholders

Manufacturers benefit from Vietnam’s strategic position as a low-cost production hub with access to regional markets and established supply chains. Cost advantages include competitive labor costs, government incentives for manufacturing investment, and proximity to component suppliers throughout Southeast Asia. The growing domestic market provides immediate revenue opportunities while export potential offers long-term growth prospects.

Consumers gain access to environmentally friendly transportation alternatives that reduce operating costs compared to gasoline-powered vehicles. Economic benefits include lower fuel costs, reduced maintenance requirements, and potential government incentives for electric vehicle adoption. Convenience factors such as reduced noise, easier parking, and simplified operation enhance daily transportation experiences.

Government stakeholders achieve environmental policy objectives through reduced emissions, decreased urban air pollution, and progress toward sustainable transportation goals. Economic development benefits include job creation in manufacturing, technology development, and supporting industries. Urban planning advantages encompass reduced traffic congestion, improved air quality, and enhanced quality of life for citizens.

Investors find attractive opportunities in a growing market with supportive government policies, increasing consumer demand, and technological advancement potential. Return prospects benefit from market expansion, export opportunities, and value chain integration possibilities across the electric mobility ecosystem.

SWOT Analysis

Strengths:

  • Manufacturing Capabilities: Established production infrastructure and skilled workforce supporting efficient e-bike manufacturing
  • Government Support: Favorable policies and incentives promoting electric mobility adoption
  • Strategic Location: Proximity to regional markets and established trade relationships facilitating export opportunities
  • Growing Market: Increasing consumer awareness and demand for sustainable transportation solutions

Weaknesses:

  • Infrastructure Gaps: Limited charging station networks and supporting infrastructure in rural areas
  • Technology Dependence: Reliance on imported battery technology and advanced components
  • Brand Recognition: Limited international brand presence compared to established global manufacturers
  • Quality Perception: Consumer concerns about domestic product quality and reliability

Opportunities:

  • Rural Expansion: Untapped market potential in developing rural areas with improving infrastructure
  • Export Growth: Regional market expansion opportunities leveraging manufacturing advantages
  • Technology Innovation: Development of advanced features and smart connectivity solutions
  • Partnership Development: Collaboration opportunities with international brands and technology providers

Threats:

  • International Competition: Established global brands with superior technology and marketing resources
  • Economic Volatility: Potential economic downturns affecting consumer purchasing power
  • Regulatory Changes: Evolving safety standards and environmental regulations requiring compliance investments
  • Technology Disruption: Rapid technological advancement potentially obsoleting current product offerings

Market Key Trends

Smart connectivity integration emerges as a dominant trend, with manufacturers incorporating GPS navigation, smartphone apps, and IoT capabilities to enhance user experience and differentiate products. Battery technology advancement drives improvements in range, charging speed, and overall performance while reducing costs and environmental impact. Design evolution emphasizes aesthetics, ergonomics, and customization options to appeal to diverse consumer preferences and lifestyle requirements.

Subscription and sharing models gain traction as alternative ownership structures that reduce barriers to e-bike adoption and create new revenue streams for industry participants. MWR data indicates that shared mobility adoption has increased by 28% in major Vietnamese cities over the past two years. Sustainability focus extends beyond vehicle operation to encompass manufacturing processes, material selection, and end-of-life recycling considerations.

Commercial applications expand rapidly as businesses recognize e-bikes’ potential for last-mile delivery, employee transportation, and corporate sustainability initiatives. Customization trends include modular designs, accessory options, and specialized configurations for specific use cases ranging from cargo transport to recreational activities.

Key Industry Developments

Manufacturing investments by major international brands establish Vietnam as a regional production hub for electric mobility solutions, bringing advanced technology and manufacturing expertise to the local market. Government initiatives including the National Green Growth Strategy and urban planning reforms create supportive frameworks for e-bike adoption and infrastructure development.

Technology partnerships between Vietnamese manufacturers and international component suppliers enhance product quality and innovation capabilities while reducing dependence on imports. Infrastructure projects including charging station networks and dedicated bike lanes improve e-bike usability and safety in urban environments. Regulatory developments establish safety standards, quality certifications, and operational guidelines that enhance consumer confidence and market stability.

Market consolidation activities include mergers, acquisitions, and strategic partnerships that strengthen competitive positions and accelerate technology development. Export expansion initiatives target regional markets with growing demand for Vietnamese-manufactured e-bikes and electric mobility solutions.

Analyst Suggestions

Strategic recommendations for Vietnam’s e-bike market emphasize the importance of balanced growth between domestic consumption and export development. Manufacturers should prioritize quality improvement, brand building, and technology advancement to compete effectively with international brands while maintaining cost advantages. Infrastructure development requires coordinated efforts between government agencies, private companies, and urban planners to create comprehensive charging networks and supportive transportation systems.

Market participants should focus on consumer education initiatives that highlight e-bike benefits, address concerns about reliability and safety, and demonstrate long-term cost savings compared to traditional transportation alternatives. Innovation priorities include battery technology advancement, smart feature integration, and sustainable manufacturing practices that align with global environmental trends and consumer expectations.

Partnership strategies should leverage Vietnam’s manufacturing capabilities while accessing international technology, distribution networks, and market expertise. Rural market development requires tailored approaches that consider infrastructure limitations, consumer preferences, and economic conditions specific to non-urban areas. Export market development should capitalize on Vietnam’s cost advantages and strategic location while building brand recognition and quality reputation in target markets.

Future Outlook

Long-term projections for Vietnam’s e-bike market indicate sustained growth driven by urbanization, environmental awareness, and technological advancement. Market expansion is expected to accelerate with projected growth rates of 15-18% annually over the next five years, supported by infrastructure development and favorable government policies. Technology evolution will continue to enhance product capabilities while reducing costs, making e-bikes increasingly accessible to broader consumer segments.

Infrastructure development will address current limitations through expanded charging networks, improved urban planning, and integrated transportation systems that support electric mobility adoption. Export opportunities are expected to grow significantly as Vietnamese manufacturers establish quality reputations and leverage cost advantages to compete in regional and global markets. According to MarkWide Research projections, Vietnam’s position as a regional e-bike manufacturing hub will strengthen substantially over the forecast period.

Consumer adoption patterns will evolve toward greater acceptance of electric mobility solutions as awareness increases and infrastructure improves. Market maturation will bring increased competition, product differentiation, and service quality improvements that benefit consumers while challenging manufacturers to maintain competitive advantages through innovation and efficiency.

Conclusion

Vietnam’s e-bike market represents a compelling growth opportunity characterized by favorable market dynamics, supportive government policies, and increasing consumer acceptance of electric mobility solutions. The market benefits from Vietnam’s established manufacturing capabilities, strategic location, and growing domestic demand that creates a strong foundation for sustained expansion. Key success factors include continued investment in infrastructure development, technology advancement, and quality improvement initiatives that enhance product appeal and market competitiveness.

Strategic priorities for market participants should focus on balancing domestic market development with export opportunities while maintaining cost advantages and improving product quality. The sector’s future depends on coordinated efforts between manufacturers, government agencies, and infrastructure providers to create comprehensive ecosystems that support electric mobility adoption. Long-term prospects remain highly positive, with Vietnam positioned to become a leading regional hub for e-bike manufacturing and consumption, contributing to sustainable transportation goals while supporting economic development objectives.

What is E-bike?

E-bikes, or electric bicycles, are bicycles equipped with an electric motor that assists with pedaling. They are popular for commuting, recreational riding, and reducing carbon emissions in urban areas.

What are the key players in the Vietnam E-bike Market?

Key players in the Vietnam E-bike Market include VinFast, Thaco, and Giant, which are known for their innovative designs and expanding product lines. These companies are focusing on enhancing battery technology and user experience, among others.

What are the growth factors driving the Vietnam E-bike Market?

The Vietnam E-bike Market is driven by increasing urbanization, rising fuel prices, and a growing awareness of environmental sustainability. Additionally, government initiatives promoting electric vehicles contribute to market growth.

What challenges does the Vietnam E-bike Market face?

Challenges in the Vietnam E-bike Market include limited charging infrastructure, high initial costs, and competition from traditional bicycles and scooters. Consumer concerns about battery life and maintenance also pose challenges.

What opportunities exist in the Vietnam E-bike Market?

The Vietnam E-bike Market presents opportunities in expanding the charging network, developing smart e-bike technologies, and targeting urban commuters. Additionally, increasing government support for electric mobility can enhance market prospects.

What trends are shaping the Vietnam E-bike Market?

Trends in the Vietnam E-bike Market include the integration of IoT technology for smart features, the rise of shared e-bike services, and a focus on lightweight materials for better performance. Sustainability and eco-friendly designs are also gaining traction.

Vietnam E-bike Market

Segmentation Details Description
Product Type City E-bikes, Mountain E-bikes, Folding E-bikes, Cargo E-bikes
Technology Hub Motor, Mid-Drive Motor, Regenerative Braking, Smart Connectivity
End User Commuters, Delivery Services, Recreational Users, Tourists
Distribution Channel Online Retail, Specialty Stores, Supermarkets, Direct Sales

Leading companies in the Vietnam E-bike Market

  1. VinFast
  2. Giant Manufacturing Co. Ltd.
  3. Yadea Technology Group Co. Ltd.
  4. Gogoro Inc.
  5. Haojue Suzuki
  6. Sunra Electric Bicycle Co. Ltd.
  7. NIU Technologies
  8. Lectric eBikes
  9. Segway-Ninebot
  10. Hero Electric Vehicles Pvt. Ltd.

What This Study Covers

  • ✔ Which are the key companies currently operating in the market?
  • ✔ Which company currently holds the largest share of the market?
  • ✔ What are the major factors driving market growth?
  • ✔ What challenges and restraints are limiting the market?
  • ✔ What opportunities are available for existing players and new entrants?
  • ✔ What are the latest trends and innovations shaping the market?
  • ✔ What is the current market size and what are the projected growth rates?
  • ✔ How is the market segmented, and what are the growth prospects of each segment?
  • ✔ Which regions are leading the market, and which are expected to grow fastest?
  • ✔ What is the forecast outlook of the market over the next few years?
  • ✔ How is customer demand evolving within the market?
  • ✔ What role do technological advancements and product innovations play in this industry?
  • ✔ What strategic initiatives are key players adopting to stay competitive?
  • ✔ How has the competitive landscape evolved in recent years?
  • ✔ What are the critical success factors for companies to sustain in this market?

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