Vietnamese EV maker VinFast reports 2024 revenue at $1.8bn

Meanwhile, VinFast's gross loss stood at nearly VND25.3 trillion ($1.03 billion) and its net loss reached some VND77.4 trillion ($3.1 billion).

In the fourth quarter of 2024, VinFast delivered 53,139 electric cars, representing a 143-percent increase from the previous quarter.

The company saw strong growth in business-to-consumer sales, which surged 140 percent quarter on quarter and over 20 times compared to the same period in the previous year.

For the full year 2024, VinFast delivered a total of nearly 97,400 electric cars, soaring 192 percent from 2023, reflecting robust growth and positive market reception.

The firm also handed over 70,977 electric motorbikes throughout 2024, inching up one percent compared to the previous year.

In Q4 2024, the company recorded revenue of VND16.496 trillion, or $677.9 million.

As of March 31, Pham Nhat Vuong, CEO of VinFast, had disbursed VND10 trillion ($410.9 million) in non-refundable financial support to VinFast.

This is part of a commitment announced on November 12, 2024 to provide up to VND50 trillion ($2.1 billion) in financial assistance for the company.

As of March 31, 2025, Vietnam's largest private corporation Vingroup had disbursed more than VND27 trillion ($1.04 billion) in loans to VinFast. 

Late last year, the group was committed to providing up to VND35 trillion ($1.3 billion) to support VinFast’s continuous growth.

In 2024, VinFast launched a free EV charging program for its customers, aimed at encouraging the transition to green transportation.

VinFast has plans to expand operations to Indonesia, the Philippines, North America, and Europe.

Vuong said that beyond real estate and electric vehicles, the group is expanding into several other key sectors, including expressway and seaport development.