TMT Motors to Launch Affordable Electric Microcar in Vietnam

HANOI — TMT Motors, a Vietnamese automotive manufacturer known for assembling vehicles for international brands, is preparing to launch the Nano S05, a two-seat electric microcar priced at 148 million dong ($5,650). This price makes it one of the cheapest electric vehicles (EVs) available in Vietnam, targeting urban commuters who typically opt for premium motorbikes.

The Nano S05 is designed with city driving in mind, featuring a compact size of approximately 2,400 mm in length, 1,380 mm in width, and 1,580 mm in height. It is smaller than many existing compact cars in the market, including the VinFast VF 2, which measures 3,090 mm long, and the Honda SH 350i motorbike, which is 2,160 mm long. This compact design makes it particularly suitable for navigating crowded urban environments.

“The Nano S05 is expected to be one of the cheapest cars in Vietnam, even lower than many premium motorbikes.”TMT Motors representative

TMT Motors has indicated that the Nano S05 will come in two versions: one with a fixed battery providing a range of 120 km and another with two removable batteries offering a range of 150 km. The removable batteries are designed for convenience, allowing users to transport them like a suitcase for charging, a feature that could appeal to residents of apartments or those living in areas with limited charging infrastructure.

While the launch was initially scheduled for late June 2026, TMT Motors has adjusted the timeline, with the official introduction now expected around August 2026. This change aims to ensure a smooth rollout of the vehicle, which has already generated interest due to its competitive pricing. The Nano S05 is anticipated to be priced lower than other small EVs currently on the market, such as the Bestune Xiaoma, which is priced at approximately 199 million dong ($7,500), and the VinFast Minio Green at 269 million dong ($10,200).

“Analysts believe that the introduction of the Nano S05 could stimulate competition in the Vietnamese EV market.”Analysts

TMT Motors has also announced plans to invest in EV charging infrastructure, aiming to establish 30,000 charging stations across Vietnam by 2030. This initiative is part of a broader strategy to support the growth of electric mobility in the country, addressing the increasing demand for sustainable transport options. The charging stations will be accessible to all EV brands, not just those manufactured by TMT, and will be developed in phases, starting with major urban areas and key transport routes before expanding to rural regions.

As the market for electric vehicles in Vietnam continues to evolve, TMT Motors' entry with the Nano S05 is expected to stimulate competition in the Vietnamese EV market, which has seen significant developments from other manufacturers, including VinFast and Honda.