VinFast Auto Ltd. reported strong growth in its preliminary and unaudited financial results for the fourth quarter and full year 2025, driven by surging electric vehicle (EV) deliveries and expanding international operations.
The EV maker delivered 86,557 vehicles in the fourth quarter of 2025, marking a 127% rise quarter-on-quarter and a 63% increase year-on-year. Commercial models under its Green brand and the EC Van accounted for nearly half of these deliveries, while overseas markets contributed 18% of total quarterly sales for the first time.
For the full year, VinFast delivered 196,919 EVs globally—more than double its 2024 figure and exceeding its annual guidance. The company also recorded a sharp surge in its electric two-wheeler segment, delivering 406,498 e-scooters and e-bikes in 2025, up 473% year-on-year.
Financially, VinFast’s revenue more than doubled in 2025 to VND 90,427.6 billion (approximately $3.6 billion). Fourth-quarter revenue stood at VND 39,411.7 billion ($1.57 billion), reflecting robust growth both sequentially and annually. Despite remaining in negative territory, gross margins improved significantly, narrowing to -42.5% for the full year from -57.4% in 2024, indicating better cost efficiency and scaling benefits.
Chairwoman Thuy Le described 2025 as a “landmark year,” emphasizing disciplined investments in technology, manufacturing, and global expansion. She noted that scaling production and optimizing unit costs would remain central to achieving profitability in the coming years.
The company expanded its global footprint with 424 showrooms worldwide and strengthened its manufacturing base. New production facilities were launched in India and Indonesia, alongside continued operations in Vietnam, giving VinFast a total annual production capacity of approximately 600,000 EVs.
VinFast also accelerated product development, organizing its portfolio into three brands—VF for consumer EVs, Green for commercial mobility, and Lac Hong for ultra-luxury vehicles. Upcoming launches include next-generation VF 6 and VF 7 models, as well as expansion in the multi-purpose vehicle (MPV) segment.
In Asia, VinFast improved its market standing, particularly in India, where it climbed to the fourth position among battery EV brands within months of launching sales. The company also secured top-three positions in Indonesia and the Philippines, while maintaining a dominant 36% market share in Vietnam.
Looking ahead, VinFast is investing in advanced technologies, including AI-driven manufacturing and autonomous driving systems. The company is collaborating with robotics and AI partners within the Vingroup ecosystem to enhance factory automation and reduce production costs.
While challenges remain, including continued losses and capital requirements, VinFast’s rapid scale-up and improving margins highlight its aggressive push to establish itself as a major global EV player.
