Electric vehicle manufacturer VinFast reported strong financial and operational results for the first quarter of 2026, posting a 41.7% year-over-year increase in revenue as demand for its electric mobility products continued to grow across Vietnam and international markets.
The company recorded revenue of VND 23.1 trillion (US$920.7 million) during the quarter, driven by robust electric vehicle (EV) sales and expanding operations in key overseas markets, including India, Indonesia, and the Philippines.
VinFast delivered 58,577 EVs in Q1 2026, representing a 61% increase compared to the same period last year. International markets accounted for approximately 8% of total vehicle deliveries. In Vietnam, EV deliveries rose 53% year-over-year, helping the company maintain its position as the country’s leading automotive manufacturer since September 2024.
The company also experienced significant growth in its two-wheeler segment, delivering 143,136 electric scooters and e-bikes during the quarter, up 219% from a year earlier. In March alone, VinFast received more than 135,000 scooter orders and shipped over 93,000 units to dealers across Vietnam.
VinFast continued to strengthen its international presence, ranking as the top battery electric vehicle (BEV) brand in the Philippines, fourth in India, and eighth in Indonesia by the end of the quarter. Its global retail network expanded to 447 showrooms worldwide.
Chairman Pham Nhat Quan Anh said the company has entered a new phase focused on disciplined execution, long-term sustainability, and scalable growth, while advancing a more asset-light business model in Vietnam. Chief Financial Officer Lan Anh Nguyen emphasized the company’s focus on financial discipline, productivity improvements, and cost optimization to support sustainable growth.
As part of its expansion strategy, VinFast recently signed agreements with 29 after-sales partners and plans to grow its global service network to more than 1,100 workshops across North America, Europe, the Middle East, and Asia by the end of 2026.
The company is also advancing autonomous driving technology through a strategic collaboration with NVIDIA and Autobrains. Announced at the 2026 COMPUTEX exhibition in Taipei, the partnership will develop next-generation Level 4 autonomous driving solutions for Southeast Asia using NVIDIA DRIVE Hyperion technology.
Looking ahead, VinFast plans to expand its dealership network, strengthen manufacturing and distribution capabilities, and explore new vehicle segments and smart mobility solutions as it pursues long-term global growth.
