TMT Automobile JSC (stock code: TMT) has just announced the establishment of TMT Electric Vehicle Charging Station Investment and Business JSC. The new company has a chartered capital of VND 100 billion, 98% of which will be contributed by TMT. The expected timeline for this project is August 2025.
This plan was approved by TMT at the annual general meeting of shareholders this year.
Investing in a minimum of 30,000 charging stations, equivalent to 60,000 charging points
According to the plan, during the period of 2025-2030, TMT will invest and partner with domestic and foreign partners to produce electric vehicle charging stations using advanced technology. The goal is to invest in a minimum of 30,000 charging stations, equivalent to 60,000 charging points, following European (CCS2) and other international standards suitable for the market reality. The charging stations will have a capacity of 7kW or more, meeting the diverse needs of customers and being arranged to suit the requirements of taxi companies and the scale of their fleets.
In parallel, the plan also includes the production, assembly, and business of electric motorcycles, three-wheeled passenger and cargo vehicles. At the same time, the company will boost the business of spare parts and accessories for this group of vehicles.
During the discussion, in response to a shareholder’s question about this plan, TMT’s leaders shared that the company has been in touch with several reputable charging station providers and is initially implementing this cooperation.
TMT has experience in distributing the Cuu Long, Tata, Howo, DFSK, and TMT brands. The company entered the electric vehicle sector in 2023 by partnering with SAIC-GM-Wuling Automobile (China) to distribute their best-selling electric car models in the Vietnamese market.
TMT recorded a record loss of VND 325 billion in 2024
In terms of business results, TMT recorded a record loss of VND 325 billion in 2024.
For 2025, TMT sets business targets to consume 8,075 vehicles (up 152% compared to 2024), achieving revenue of VND 3,839 billion (up 65%) and after-tax profit of VND 270 billion compared to the performance in 2024.
To achieve these targets, in terms of products, the Company will focus on truck models with stable consumption in the TMT-distributed product range. TMT has signed a cooperation contract with Forland, a large partner in China for dump trucks. In addition, TMT continues to maintain and promote the strength of various types of dump trucks. For electric vehicles, TMT plans to introduce some new models to the market to diversify its product portfolio.
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