TMT shares hit the ceiling after announcing plans to build tens of thousands of electric vehicle charging stations - Photo: TMT
TMT Auto Corporation (TMT) has just announced the resolution of the 2025 annual general meeting of shareholders.
The shareholders of this company have approved the establishment of TMT Electric Vehicle Charging Station Investment and Trading Company. At the same time, they "finalized" the addition of the business line "manufacturing, assembling and trading electric vehicle charging stations".
In the plan from now to 2030, TMT will invest by itself or in joint ventures, in association with domestic and foreign partners to invest in at least 30,000 charging stations (equivalent to 60,000 charging guns) according to European standards (CCS2) and other standards according to market requirements, with a capacity of 7KW or more.
At the same time, TMT will manufacture, assemble and trade 2-wheel electric vehicles, 3-wheel electric vehicles for passengers and cargo. Previously, in the shareholder meeting documents, the company also said it planned to introduce several new electric vehicle models to the market.
Responding to shareholders about the plan to invest in electric vehicle charging stations, TMT leaders said they have contacted a number of reputable charging station suppliers and are taking the first steps for this cooperation.
Currently, TMT Motor is a partner of the General Motors - SAIC - Wuling (China) joint venture to manufacture, assemble and distribute Wuling Mini EV electric cars in Vietnam.
In an announcement late last year, TMT Motors announced that it was negotiating with partner General Motors - SAIC - Wuling (SGMW) to launch a commercial version of the product that can replace two-wheeled motorbikes with an expected price including battery under 150 million VND.
According to information from TMT, this car has an overall length of 2,488mm, width of 1,506mm and height of 1,670mm.
On the stock market, after 3 consecutive sessions of decline, TMT shares today (April 29) increased to the ceiling price, up to 12,300 VND/unit. This development is noteworthy because TMT shares are still under warning, and at the same time, the company is still suffering from large accumulated losses.
TMT "embraces" accumulated losses of hundreds of billions of dong
In a related development, TMT had to send an explanation of the situation of overcoming accumulated losses in 2024 to the Securities Commission.
According to the leader of this enterprise, in the first quarter of 2025, it recorded a positive after-tax profit of VND 33.77 billion, contributing to reducing the accumulated loss to more than VND 236 billion.
Regarding the upcoming plan to overcome the large accumulated loss, TMT said it will continue to maintain sales growth, selling 8,075 vehicles in 2025 to bring in revenue of VND 3,838 billion and profit of VND 297 billion.
Source: https://tuoitre.vn/mot-cong-ty-viet-ban-xe-dien-trung-quoc-sap-xay-it-nhat-30-000-tram-sac-20250429123043891.htm
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