The world's best-selling mini electric car is about to be assembled in Vietnam

In recent days, many car groups on social networks have been buzzing with the news that a low-cost electric model could enter the Vietnamese market. This information has attracted the attention of many people because for most domestic customers, cars are still expensive products. In addition, the fact that it is an electric car model makes the community even more excited.

Very soon after, TMT Motors Joint Stock Company (TMT Motors) confirmed that it had signed a strategic cooperation agreement with the General Motors (GM) - (Saic - Wuling) joint venture to manufacture, assemble and exclusively distribute the company's electric cars in Vietnam. The first product to be deployed will be the Wuling HongGuang MiniEV - the world's best-selling mini electric car.

Wuling HongGuang MiniEV is considered the model that opened the mini electric car segment in Vietnam. Photo: Sanook

To realize this goal, the joint venture said the HongGuang MiniEV model will be assembled at TMT's automobile factory in Van Lam district (Hung Yen) with a capacity of 30,000 vehicles/year and can increase in the future. In addition to the HongGuang MiniEV, TMT Motors said it is also researching and considering introducing other electric car models according to the cooperation roadmap.

Detailed information about the product and price of the Wuling HongGuang MiniEV has not been announced yet. The unknowns will most likely be shared, and the model will start accepting deposits from the second quarter.

TMT Motors is a manufacturer and commercial vehicle line in Vietnam with nearly 50 years of experience. Domestic customers mainly know the company through truck and tractor models. Meanwhile, the GM - (Saic - Wuling) joint venture was established in 2002, a cooperation of 3 companies including General Motors - USA (holding 44% of shares), SAIC Motor (50.1%) and Wuling Motors (5.9%).

What does the Wuling HongGuang MiniEV electric car have?

In fact, since the end of 2022, the Wuling HongGuang MiniEV electric car model has been brought from China to Vietnam under temporary import and re-export for research purposes. In the domestic market, the car costs only 28,800 yuan (equivalent to 4,100 USD, about 100 million VND) and is one of the cheapest pure electric cars in the world.

HongGuang MiniEV became the world's best-selling mini electric car in 2020, 2021, 2022. Photo: Wuling

Measuring 2.9m long, 1.5m wide, and 1.6m high, the HongGuang MiniEV is designed based on the style of a small urban car, similar in size to the Smart ForTwo. The car is suitable for traveling in crowded cities, where traffic density is high and parking is always tight. Although it only has two doors, the car has a 4-seat configuration (including the driver).

The previous imported version of HongGuang MiniEV had basic equipment such as halogen lighting system, mechanical rearview mirror, mechanical key. Similarly, the interior of the car is also relatively simple with LCD screen behind the steering wheel, radio entertainment system, single-zone air conditioning and manual adjustment.

Wuling Mini EV is equipped with an electric motor located on the rear axle, capacity of 17.4 horsepower, torque of 85Nm. The 9.2kWh battery pack gives the car a range of 120km per full charge or an optional 13.8kWh battery pack for a range of 170km. Maximum speed is about 100km/h. The charging port is located at the logo on the front of the car and it is expected to take about 6-8 hours to fully charge the battery.

TMT Motors is expected to announce detailed information about the product, price and take orders for the HongGuang MiniEV electric car model in the second quarter of 2023. Photo: Wuling

The low price will certainly be the strength that helps Wuling's mini electric car make a difference in the Vietnamese market, but the specific figures still have to wait for an official announcement. The car also benefits from the 100% free registration fee policy for electric cars issued by the Government, effective until May 31, 2022.

The mini car segment that HongGuang MiniEV is entering has almost no direct competitors in Vietnam. VinFast's lowest-end model, the VF 5, is also in the above group. In addition, the Vietnamese car market is also "thirsty" for cheap popular car models when currently there are only Hyundai Grand i10 and Kia Morning. Of course, Wuling is a completely new name, so it will definitely need a lot of time to assert itself with Vietnamese customers.