Vietnam’s VinFast reports sharp revenue surge in Q1

Last quarter, VinFast delivered a total of 36,330 electric cars, representing a 296-percent year-on-year increase.

The company also handed over 44,904 electric motorbikes and bicycles, skyrocketing 473 percent from the same quarter last year.

Despite these gains, VinFast reported a gross loss of over VND5.7 trillion ($231 million) and a net loss of nearly VND17.7 trillion ($712.4 million) for last quarter.

The company’s gross margin showed marked improvement, reaching -35.2 percent, compared to -58.7 percent in Q1 2024 and -79.1 percent in Q4 2024.

This improvement suggests that the EV manufacturer is operating with greater efficiency.

As of May 31, 2025, VinFast CEO Pham Nhat Vuong had disbursed VND20.5 trillion ($825.4 million) in non-refundable grants to support VinFast, as part of a previously announced commitment of up to VND50 trillion ($2.1 billion).

By the same date, Vingroup, VinFast's parent company, had also disbursed a loan of VND30.571 trillion ($1.2 billion) to the carmaker.

Late last year, Vingroup was committed to providing up to VND35 trillion ($1.3 billion) in new loans to the automaker.

VinFast’s vehicle deliveries in the first quarter of this year exceeded the total number delivered during the first half of last year, said company chairwoman Le Thi Thu Thuy.

For 2025, the Vietnamese EV brand is aiming to at least double its global vehicle deliveries and will continue to closely monitor macroeconomic developments.

VinFast is focusing on key markets including Vietnam, Indonesia, the Philippines, India, North America, and Europe, while also evaluating potential markets across Europe, Asia, the Middle East, and Africa.

On Monday (U.S. time), VinFast Auto's stock (VFS) surged over 12 percent at market open following the release of its financial results, reaching above $3.7 per share.

At this price, the company’s market capitalization exceeded $8.6 billion.

As of Monday, Vuong’s net worth reached $10.1 billion, placing him 290th among the world’s richest individuals, according to Forbes.

In addition to real estate and electric vehicles, Vuong said his conglomerate is expanding into other key sectors, including expressway investments and plans to register for port development.