Wuling HongGuang MiniEV model. (Photo: VNA)

TMT Automobile Joint Stock Company (TMT Motors) on February 18 announced that it has signed a strategic cooperation agreement with the joint venture of General Motors (GM) and SAIC - WULING on the manufacturing, assembling and exclusively distributing of electric vehicles (EVs) of GM and SAIC - WULING in Vietnam.

Under the agreement, GM and SAIC - WULING will provide components to TMT Motors to exclusively manufacture, assemble and distribute Wuling electric cars in Vietnam.

The first model to be launched in Vietnam will be Wuling HongGuang MiniEV - the world's best-selling mini electric car model in three consecutive years of 2020, 2021 and 2022. It is also the third largest electric car manufacturer in the world with more than 480,000 units sold in 2022.

The model will be assembled at TMT's automobile factory in Van Lam district, northern Hung Yen province, with a capacity of 30,000 vehicles per year, which will be expectedly increased in the future when TMT Motors introduces other high quality electric vehicle models.

Addressing the signing ceremony, Bui Van Huu, Chairman of TMT Motors, said that with its 47 years of experience in the automobile sector, the firm hopes to make a breakthrough with the introduction of Wuling HongGuang MiniEV - the model that will open the mini electric car segment in Vietnam, making it easier for people to own environmentally friendly, safe and civilised vehicles. With compact, fashionable design and flexible space with four seats, TMT Motors hopes Wuling HongGuang MiniEV will be a new choice within reach of many Vietnamese customers.

As scheduled, TMT Motors will announce the details of the product and its price, as well as the receipt of pre-orders in the second quarter of this year.