TMT has announced plans to introduce five models of electric cars in Vietnam, with prices ranging from 123 million to 295 million VND. The company stated that they are finalizing the products and preparing for their launch, which is expected to occur by the end of 2026. The lineup includes the E2, E3, and E5 models, which are compact, four-door cars, as well as two commercial models, the Q5 and Q7, designed for passenger transport and cargo, respectively.

Bui Van Huu, the chairman of TMT, revealed that the E2 model will be priced at 123 million VND. These affordable electric vehicles are tailored to specific customer segments, with the E2, E3, and E5 aimed at individual users for daily commuting, while the Q5 is intended for hotels and recreational facilities to transport guests. The Q7 model targets customers needing vehicles for business-related cargo transport.

These new electric models are designed to operate at lower speeds, expected to be around 35 km/h or slightly higher. However, TMT has not yet disclosed technical specifications such as dimensions, engine capacity, battery life, or operational range for these vehicles.

In recent years, the introduction of electric vehicles by companies like VinFast, Wuling, Bestune, and TMT has significantly lowered the entry price for cars in Vietnam. Prior to 2023, the cheapest new car available was around 300 million VND, typically a gasoline-powered hatchback or sedan. Now, with prices below 200 million VND, Vietnamese consumers can purchase a new vehicle for daily use, offering protection from the elements, something internal combustion engine vehicles have not provided for decades.

Currently, the cheapest cars on the market are the VinFast VF 2 and Minio Green, priced at 188 million VND. However, TMT plans to disrupt the price floor established by VinFast with the introduction of the Nano S05, priced at 148 million VND, by the end of 2026. With the new models starting at 123 million VND, TMT is set to establish a new record for the lowest price point for cars in Vietnam.