Vietnam will have a factory assembling cheap electric cars from China

TMT Motors has signed a cooperation agreement with joint venture GM-(SAIC-Wuling) to assemble the first electric car model under the Wuling brand in Vietnam.

Specifically, the world’s best-selling electric car model in the 3 years from 2020 to 2022, Wuling HongGuang MiniEV, will be assembled and launched in the Vietnamese market at a price rumored to be on par with the standard versions of the car models in the list. class A segment.

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Accordingly, TMT Motors – an enterprise specializing in the production and sales of domestic commercial vehicles has just officially announced that it has signed a cooperation agreement with the joint venture GM-(SAIC-Wuling) to assemble low-cost electric cars. above.

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Wuling HongGuang MiniEV will be assembled and launched in 2023 at TMT’s automobile factory in Van Lam district, Hung Yen province. The cooperation agreement states that the GM – (SAIC-Wuling) joint venture will provide components and authorize TMT Motors to exclusively produce, assemble and distribute Wuling brand electric cars in Vietnam.

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TMT’s factory currently has a capacity of 30,000 vehicles/year and can be increased in the future, when the company considers introducing other electric car models, according to the strategic cooperation roadmap with the joint venture GM-( SAIC-Wuling). It is expected that TMT Motors will announce detailed information about the product, price and accept orders for the Wuling HongGuang MiniEV electric car model in the second quarter of 2023.

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Hongguang MiniEV is a car model researched by the GM-(SAIC-Wuling) alliance, sold in the Chinese domestic market since July 2020. This model has 4 versions, including standard, Macaron, Gameboy and Convertible, with prices ranging from 32,800 – 99,900 yuan (113 – 346 million VND).

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According to newspapers, the Wuling Hongguang Mini EV had sales of nearly 100,000 cars in just half a year of launch, and by the end of January 2023, there were 1.1 million Wuling Hongguang Mini EVs sold with an average of every 20 seconds. 1 car was sold, becoming the best-selling electric car globally.

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The design of Wuling Hongguang Mini EV is similar to models in the A-segment segment but has a boxy shape to optimize space. The details are also minimalist and do not have much technology, enough equipment includes electric windows, single-zone air conditioning, radio sound and can be upgraded to a touch screen.

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Wuling Hongguang Mini EV uses an electric motor with a maximum capacity of 27 horsepower in 3 standard versions, Macaron, Convertible and 41 horsepower in the Gameboy version. The vehicle uses lithium batteries and LFP for operating capacity from 120 to 300 on a full charge.

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Previously, the Wuling electric car model was distributed in Indonesia as a strategy to soon dominate the Southeast Asian market after being successful in China. Wuling cars sold in Indonesia are assembled on site with a localization rate of up to 40%, qualified for export in the 0% import tax area.

The selling price of Wuling Hongguang Mini EV is unknown, but in Indonesia the car has a converted price of about 381 million VND to 472 million VND and has a travel distance of 200 – 300 km depending on the battery pack and charging time at home from 4 to 8.5 hours.

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