HÀ NỘI — TMT Motors has announced the establishment of a subsidiary which will invest in charging infrastructure with a goal of installing 30,000 stations by 2030.

The new entity, TMT Electric Charging Station Investment and Trading Joint Stock Company, has a registered charter capital of VNĐ100 billion (US$4 million), of which TMT contributes 98 per cent.

The plan, approved at the company’s annual shareholders’ meeting this year, aimed to accelerate the adoption of electric vehicles (EVs) in Việt Nam by investing in a nation-wide charging network.

Accordingly, the company aims to install at least 30,000 stations, or 60,000 charging guns, which support CCS2 and other global standards.

The plan also includes the expansion into the manufacturing, assembly and distribution of electric motorbikes and three-wheel vehicles for passenger and cargo transportation.  

TMT operates in distributing automobile brands such as Cửu Long, Tata, Howo, DFSK and TMT. The company has participated in EV since 2023 through the cooperation with SAIC – GM – Wuling Automobile (China).

The company reported a record loss of VNĐ325 billion in 2024. It sets the target of selling more than 8,000 units in 2025, up 125 per cent over the previous year with a net revenue of VNĐ3.839 trillion, up 65 per cent and after-tax profit of VNĐ270 billion. — BIZHUB/VNS