VinFast VF 3. Photo by VnExpress/Luong Dung
Vietnamese electric vehicle (EV) manufacturer VinFast’s revenue soared by nearly 150% year-on-year to VND16.306 trillion (US$656.5 million) for the first quarter of 2025.
According to VinFast, in the context of a volatile global automotive market and a typically quiet first quarter, it delivered a total of 36,330 electric cars, an increase of 296% compared to the same period in 2024 and exceeding the total number of vehicles delivered in the first half of last year.
It handed over 44,904 electric scooters and bicycles, marking a 473% year-on-year growth.
However, the company also reported a gross loss of nearly VND5.74 trillion and a net loss of VND17.69 trillion for the period.
As of the end of April, VinFast had established a network of 388 stores worldwide, comprising both direct-to-consumer showrooms and authorized dealership systems.
Aiming to double vehicle deliveries this year, VinFast is focusing on key markets including Vietnam, Indonesia, the Philippines, India, North America, and Europe, while also exploring new opportunities in the Middle East and Africa.
