(NLDO)- This company said that it will continue to bring more super small car models from China to the Vietnamese market in the near future.
On December 31, 2024, Ho Chi Minh City Stock Exchange (HOSE) issued a document requesting TMT Motors Joint Stock Company (TMT Motors, stock code: TMT) to report information related to TMT stock price hitting the ceiling for 5 consecutive sessions from December 25 to December 31, 2024.
Accordingly, this stock has increased from VND 7,520/share to VND 9,840/share (equivalent to nearly 40%).
TMT Motors is known as an assembly unit and famous truck products with large loads such as Sinotruk Cuu Long tractors, Howo,...
Exterior of Baojun E100. Photo: Synthesis
For more than a year now, this company has entered the electric vehicle market by manufacturing, assembling and distributing the Chinese Wuling Hongguang MiniEV electric vehicle model in the Vietnamese market.
Wuling Mini EV is a famous small electric car model from China. However, this model is not popular in the Vietnamese market, as sales are much lower than expected by the company.
Recently, TMT Motors has agreed with the SGMW joint venture (SAIC, General Motors and Wuling) to bring more small electric car models from China such as Baojun E100, Baojun Yep 2023 and Baojun Yep Plus to the Vietnamese market.
Among these, the most notable is the Baojun E100 super small electric car, which has only two seats and is expected to be sold this year 2025 as a domestically assembled car, with an expected price of only about 150 million VND.
TMT Motors said it is negotiating with partner SGMW to launch a commercial version of the product that can gradually replace motorbikes with an expected price including battery of less than 150 million VND.
With a more compact size than the Wuling Mini EV and VinFast VF 3, and a "soft" price, the Baojun E100 is expected to be an ideal choice for women when traveling in urban areas or short distances. However, this model is not recommended for use on highways or long routes for safety reasons.
Regarding the business results in the first 9 months of 2024, TMT Motors lost nearly 192 billion VND, an unprecedented loss for this enterprise. This figure pushed TMT Motors' accumulated loss to 139 billion VND.
According to TMT Motors' explanation, the business losses were due to objective reasons such as the general difficulties of the economy, real estate, the risk of inflation, people tightening their spending, and technological changes causing a decrease in car consumption. In addition, the subjective reason was that TMT Motors' financial costs were too high for many years and the large inventory, the company also incurred many additional costs in production and business.
Source: https://nld.com.vn/cong-ty-sap-tung-mau-xe-dien-sieu-re-chua-toi-150-trieu-dong-phai-giai-trinh-196250101090132815.htm
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