More capital flows into Vietnam’s EV charging race

According to its 2025 annual report, released ahead of its general shareholder meeting on Tuesday, TMT Motors aims to deploy 2,100 charging units nationwide this year.

Among them, 750 chargers each will be installed in Hanoi and Ho Chi Minh City, while another 600 will be built across other provinces.

In addition, the company is continuing to refine its EV assembly plant in Hung Yen Province, northern Vietnam, which has an annual capacity of 3,000 vehicles.

As of the end of 2025, more than 2,653 electric cars had been assembled at the facility.

TMT Motors is also planning a new electric motorcycle factory in the province, with a projected capacity of 2,000 units per year.

It is targeting sales of 20,000 electric vehicles in 2026.

On the commercial side, the firm intends to overhaul its dealership network, phasing out underperforming outlets and replacing them with higher-capability 3S (Sales - Service - Spare Parts) dealers specializing in commercial and electric vehicles.

TMT Motors reported total sales of 4,416 vehicles in 2025, reaching nearly 55 percent of its annual target.

Electric vehicles accounted for 1,234 units, only 36.25 percent of the planned 3,404 units.

Currently, TMT distributes Wuling EV models such as the Bingo and Macaron.

It plans to expand its portfolio with additional electric and hybrid vehicles.

Among the upcoming models is the Wuling HG7, also known as the Grango, a compact seven-seater MPV expected to be priced from VND499 million (US$18,950).

Notably, the Nano S05, a compact two-seater electric vehicle, is slated for launch in June, as a locally-assembled model.

TMT Motors has indicated a starting price of VND148 million ($5,620) for the Nano S05.

If confirmed, this would make it the most affordable car on the Vietnamese market.

Race to build charging stations intensifies

TMT Motors is not alone in its infrastructure push.

While VinFast, through its V-Green network, continues to dominate Vietnam’s charging landscape, a growing number of global automakers are investing in their own systems.

Brands including BYD, Ford, Geely, Omoda & Jaecoo, Audi, Porsche, Mercedes-Benz, and BMW have begun deploying charging stations that meet their parent companies’ standards.

Some of these networks are open to vehicles from other brands.

Apart from manufacturer-led initiatives, third-party operators are expanding public charging options, often in collaboration with premium carmakers seeking to offer high-end charging experiences.

However, public infrastructure remains limited.

Data from the EV Station app show that Vietnam currently has around 620 public charging stations for cars, while VinFast alone operates some over 13,570 stations nationwide.

VinFast plans to build 99 ‘super charging stations’ along national highways in 2026, each equipped with around 100 charging guns.

Meanwhile, Omoda & Jaecoo Vietnam aims to increase its charging network to 80 stations nationwide in preparation for upcoming electrified models.