What does the company that is about to launch an electric car model for less than 150 million VND say when its stock price keeps "exploding"?

(NLDO)- After explaining, TMT shares in the trading session on January 2, 2025 continued to hit the ceiling, increasing nearly 7%, closing at VND 10,500/share.

TMT Motors Corporation (TMT Motors, stock code: TMT) has just explained why TMT stock price increased to the ceiling for 5 consecutive sessions from December 25 to December 31, 2024. According to the company, this was due to market demand and was beyond its control, while business activities were still going on normally as planned.

TMT Motors said that since the beginning of 2024, the company has implemented a policy of clearing inventory and restructuring all products from production to consumption. There is a strategy to work with foreign suppliers to add new car models with beautiful designs to the production and business plan from the beginning of 2025.

By early December 2024, the company had reached an agreement with foreign partners on new commercial and electric vehicle models expected to be put into cooperation, manufactured and assembled for sale in Vietnam from the first quarter of 2025. Of which, commercial vehicles include 18 new models from 500kg to 40 tons, electric vehicles have 7 new models (including 2-seat electric vehicles to replace two-wheeled motorbikes)...

Previously, the Ho Chi Minh City Stock Exchange (HOSE) requested the company to report when its shares increased from VND7,520 to VND9,840/share, equivalent to nearly 40%.

TMT Motors is known as an assembly unit and famous truck products with large loads such as Sinotruk Cuu Long tractors, Howo,...

Baojun E100 super small electric car model, expected to cost less than 150 million VND

Previously, the Ho Chi Minh City Stock Exchange (HOSE) requested the company to report when its shares increased from VND7,520 to VND9,840/share, equivalent to nearly 40%.

In the past 2 years, TMT Motors has become well-known for assembling and distributing the cheap electric car model Wuling Hongguang MiniEV from China in Vietnam. However, the sales of this car model were very low, less than 600 units, causing great disappointment compared to initial expectations.

Recently, TMT Motors and the SGMW joint venture agreed on a plan to bring more small electric vehicle models such as Baojun E100, Baojun Yep 2023, and Baojun Yep Plus to Vietnam. Notably, the Baojun E100 model, expected to be sold in 2025 with a price of around 150 million VND, aims to replace two-wheeled motorbikes and is suitable for women to travel in urban areas.

Financially, TMT Motors lost nearly VND 192 billion in the first 9 months of 2024, an unprecedented loss, pushing accumulated losses to VND 139 billion.

However, on the stock exchange, TMT shares still hit the ceiling for 6 consecutive sessions, closing on January 2, 2025 at VND 10,500/share, up nearly 7% compared to the previous session.

Source: https://nld.com.vn/cong-ty-sap-tung-mau-xe-dien-chua-toi-150-trieu-dong-noi-gi-khi-co-phieu-lien-tuc-bung-noc-196250102161919559.htm