Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
The new firm, TMT Charging Station Investment and Trading JSC, is scheduled to launch in August, with TMT holding a 98% stake.
The initiative, approved at the company’s recent AGM, is part of a broader strategy to invest in and jointly develop advanced EV charging infrastructure with both domestic and international partners from 2025 to 2030.
A branch of TMT Motors in Binh Duong province, southern Vietnam. Photo courtesy of the firm.
TMT (HoSE: TMT) aims to roll out at least 30,000 charging stations nationwide by 2029, equivalent to 60,000 charging connectors based on CCS2 standard and other global specifications. The chargers will have a minimum capacity of 7kW and be customized to taxi operators’ needs.
It also plans to manufacture and distribute electric motorbikes, three-wheeled passenger and cargo EVs, as well as related components and spare parts.
TMT is in preliminary discussions with several reputable charging equipment providers, an executive said.
TMT entered the EV segment in 2023 through a distribution partnership with Chinese EV maker SAIC-GM-Wuling.
In 2024, TMT Motors reported a record loss of VND325 billion ($12.49 million). This year, the company targets sales of 8,075 vehicles, up 152% year-on-year, a net revenue of VND3.84 trillion ($147.6 million), and a net profit of VND270 billion ($10.38 million).
To meet these goals, TMT will focus on core truck models with stable demand and plans to introduce new EV models to diversify its product portfolio. It has signed a cooperation deal with Chinese brand Forland for dump trucks.
- Related News
- Read More
Vietnam's construction giant Coteccons plans $53 mln bond issue
Vietnamese construction giant Coteccons (HoSE: CTD) plans to issue bonds worth up to VND1.4 trillion ($53.45 million) to the public this year as part of its 2025 capital mobilization plan, according to a company release.
Companies - Thu, July 3, 2025 | 8:12 pm GMT+7
Over $534 mln needed for central Vietnam city’s seaport infrastructure
Hue city in central Vietnam needs about VND14.05 trillion ($534.24 million) in investment for its seaport system during the 2021-2030 span, with approximately VND12.79 trillion ($488.05 million) for wharves.
Infrastructure - Thu, July 3, 2025 | 4:24 pm GMT+7
Ca Na LNG-fueled power project in central Vietnam extends bidding deadline
The bidding deadline for the Ca Na LNG-to-power project in south-central Vietnam's Khanh Hoa province has been extended to 2 p.m. on July 19, 2025.
Energy - Thu, July 3, 2025 | 4:06 pm GMT+7
USD price in Vietnam hits new peak as US, Vietnam reach agreement on trade deal framework
Vietnamese banks on Thursday raised the USD price to the central bank-regulated ceiling of VND26,345, 3.1% higher than at the beginning of the year.
Banking - Thu, July 3, 2025 | 3:47 pm GMT+7
Vietnam inaugurates first paper-based food packaging line
The first paper-based food packaging line in Vietnam applying Tetra Recart® technology was officially inaugurated in Son La province on Wednesday by Vietnam’s leading supplier of processed food, Dong Giao Foodstuff Export JSC (Doveco), and Sweden's Tetra Pak Group.
Companies - Thu, July 3, 2025 | 2:29 pm GMT+7
Toyota nears one-millionth vehicle sold in Vietnam
Toyota Motor Vietnam (TMV) delivered over 29,000 vehicles to Vietnamese customers in the first half of 2025, a 31% increase year-on-year, according to a company release on Wednesday.
Companies - Thu, July 3, 2025 | 2:24 pm GMT+7
Vietnam’s Personal Income Tax Law overhaul expected in October
Vietnam’s Ministry of Finance is finalizing draft revisions to the Personal Income Tax (PIT) Law, for parliament approval at its session in October.
Economy - Thu, July 3, 2025 | 1:44 pm GMT+7
Apple supplier Luxshare-ICT seeks recruitment support in central Vietnam
China’s Luxshare-ICT, a supplier to Apple, has asked authorities in Nghe An province for support in tackling labor recruitment challenges.
Companies - Thu, July 3, 2025 | 12:44 pm GMT+7
US agreement on 20% tariff for goods imported from Vietnam 'a success': expert
Reaching agreement with the U.S. on 20% tariff for goods imported from Vietnam and even 40% for transshipping is a success for the Southeast Asian country, said Ho Quoc Tuan, a senior lecturer of accounting & finance at University of Bristol, the UK.
Economy - Thu, July 3, 2025 | 9:55 am GMT+7
Malaysia diversifies trade partners to stay economically resilient
Malaysia’s economy remains resilient thanks to its long-term and comprehensive economic strategy, despite geopolitical tensions in the Middle East that have raised concerns about the possible closure of the Strait of Hormuz and disruption to global energy supplies, according to the Ministry of Trade, Investment and Industry (MITI).
Southeast Asia - Thu, July 3, 2025 | 8:44 am GMT+7
Vietnam Airlines launches first direct air link between Vietnam and Italy
National-flag carrier Vietnam Airlines officially launched its first direct flight connecting Hanoi and Milan on Tuesday, establishing direct air link between Vietnam and Italy for the first time.
Travel - Thu, July 3, 2025 | 8:28 am GMT+7
Makara Capital Partners wants to mobilize $5-7 bln for investments in Vietnam: exec
Singapore's Makara Capital Partners is eyeing investment opportunities in Vietnam, including those in the biological and pharmaceutical industries and the International Financial Center project.
Economy - Thu, July 3, 2025 | 12:52 am GMT+7
Vietnam, US reach agreement on landmark trade deal framework
Vietnam's Party chief To Lam and U.S. President Donald Trump on Wednesday stated that they welcome the agreement reached by the two countries' negotiating teams on the Joint Vietnam-United States Statement on a Fair, Balanced, and Reciprocal Trade Agreement Framework.
Economy - Wed, July 2, 2025 | 11:28 pm GMT+7
Vietnam's ACV expects 17% profit drop, plans $1.52 bln investment in Long Thanh airport this year
State-owned Airports Corporation of Vietnam (ACV), which operates 22 airports nationwide, expects its 2025 pre-tax profit to decline 17% year-on-year to VND10.53 trillion ($402.56 million) due to foreign exchange losses.
Companies - Wed, July 2, 2025 | 4:08 pm GMT+7
Two mega urban area projects in central Vietnam get greenlight
Two major urban projects in Quang Ngai province's Dung Quat Economic Zone, with a total investment of over VND54 trillion ($2.06 billion), have received in-principle approvals from Deputy Prime Minister Tran Hong Ha.
Real Estate - Wed, July 2, 2025 | 4:02 pm GMT+7
Roadmap for cleaner fuel transition launched for Vietnam’s first oil refinery Dung Quat
Binh Son Refining and Petrochemical JSC (BSR) and PV Gas D, a subsidiary of PV Gas, have signed an MoU on LNG trading principles, marking a significant step in BSR’s roadmap to transition from traditional fuels to cleaner alternatives at Dung Quat Oil Refinery.
Economy - Wed, July 2, 2025 | 3:52 pm GMT+7
