VinFast Auto Ltd. reported robust second-quarter 2025 results, posting revenues of VND16,609.3 billion (US$663 million), a 92% year-on-year jump, driven by surging electric vehicle and e-scooter sales.
The company delivered 35,837 EVs in Q2, up 172% from the same period last year, while e-scooter and e-bike deliveries reached 69,580 units, a 432% increase year-on-year. Cumulatively, VinFast delivered 72,167 EVs and 114,484 e-scooters/e-bikes in the first half of 2025.
Despite strong growth, the company posted a net loss of US$812 million, though its gross margin improved to –41.1%, compared with –62.7% a year ago, reflecting cost optimization and operational efficiency.
Domestic momentum remained strong, with models VF 3, VF 5, and VF 6 ranking among Vietnam’s top five best-sellers in H1 2025. Over 70% of deliveries went to B2C customers for four consecutive quarters, signaling sustained retail demand.
VinFast also expanded globally:
- India: Opened dealerships in Surat and Chennai, launched bookings for VF 6 and VF 7, and inaugurated its Thoothukudi plant (50,000 capacity annually).
- Indonesia: VF 7 debuted, with deliveries slated for 2025.
- Philippines: Captured 25% of the EV market share in H1.
- North America: Opened its first U.S. dealership with Sunroad Automotive Group in San Diego.
Madame Thuy Le, Chairwoman of VinFast, said:
“VinFast delivered another strong quarter with robust growth, keeping us on track to at least double our deliveries in 2025. Despite evolving macro challenges, our long-term vision to be a global EV leader remains unchanged.”
Lan Anh Nguyen, CFO, added that scaling volumes and disciplined cost control remain key to achieving profitability.
The company reaffirmed its 2025 delivery guidance, citing opportunities in Asia, North America, Europe, and the Middle East, while also expanding e-scooter production to align with Vietnam’s green transition goals.
