In June 2023, TMT Motors, a leading automotive company, introduced the Wuling Mini EV to the Vietnamese market. Now, they are in negotiations with SGMW, a joint venture between General Motors, SAIC Motor, and Liuzhou Wuling Motors, to bring additional electric vehicle models to the country.
The first of these is the compact, two-seater Baojun E100, which is set to go on sale soon, positioning itself as a competitor to VinFast’s electric vehicles. With dimensions of 2,488 mm in length, 1,506 mm in width, and 1,670 mm in height, the Baojun E100 is competitively priced at approximately 150 million VND per unit. This Chinese-made vehicle is seen as a rival to VinFast’s recently announced Mini Green, targeting ride-hailing services.
TMT Motors’ Baojun electric mini-car is ready for sale, but it may struggle to compete with other offerings.
According to Chu Van Phat, a car showroom owner in Thu Duc City, Ho Chi Minh City, the Chinese-origin Baojun E100 will face an uphill battle against the soon-to-be-released Mini Green. Its specifications, including a 39-horsepower electric motor and 110 Nm of torque, fail to impress consumers. Additionally, the vehicle can only be charged at home, which is inconvenient, and its top speed of 100 km/h is comparable to that of a conventional motorcycle.
Meanwhile, the Baojun Yep 2023, positioned as a competitor to VinFast VF 3, is expected to be priced at around 300 million VND per unit but is also predicted to face an uphill battle.
Another electric vehicle in TMT Motors’ portfolio, the Baojun Yep Plus, has dimensions similar to a B-segment car and is expected to be priced between 409 and 449 million VND. However, it will struggle to compete with VinFast VF 5 and other gasoline-powered vehicles in the same segment from brands like Toyota, Mitsubishi, Hyundai, and Kia.
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