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VinFast Reports Strong Q2 2025 Financial Results

VinFast Auto Ltd., traded as VFS on NASDAQ, has published its unaudited financial results for the second quarter ending on June 30, 2025, showcasing remarkable growth that highlights the company's ongoing momentum in the electric vehicle (EV) market.

In Q2 2025, VinFast recorded a staggering year-over-year revenue increase of 92%, reaching approximately VND 16,609.3 billion (or $663 million USD). This growth is attributed to a robust sales performance in both electric vehicles and e-scooters, reflecting the company's strategy to expand its presence both domestically and internationally.

Key Highlights of Q2 2025

VinFast's EV deliveries reached 35,837 units, stable compared to the previous quarter and marking a 172% increase year-over-year. Cumulatively, in the first half of 2025, the company delivered 72,167 EVs, an astonishing 223% increase from the same period in the previous year. Furthermore, the delivery of e-scooters and e-bikes soared to 69,580 units, showing a 432% increase year-over-year.

The company also ramped up its showroom footprint, with 394 locations worldwide as of June 30, reinforcing VinFast’s global sales strategy.

Financial Performance

Despite the remarkable revenue growth, VinFast also reported a gross loss of VND 6,824.9 billion (approximately $272.4 million USD) and a net loss of VND 20,341.6 billion (about $812 million USD). However, the company demonstrated an improvement in its margins, with a gross margin of negative 41.1% compared to negative 62.7% in Q2 2024, indicating enhanced operational efficiency and successful cost-cutting measures.

Commitment to Green Transition

VinFast is steadfast in its role as a leader in Vietnam’s automotive sector while spearheading a green transition in the country. The VF 3 and VF 5 electric models accounted for 61% of total deliveries, and the company aims to further increase these figures in alignment with Vietnam's national goals for electric vehicle adoption.

The green transition is further supported by the inauguration of the Ha Tinh plant in June 2025, designed to produce up to 200,000 vehicles annually in its first phase, which is vital for the localization of EV production and to drive down costs.

Expansion in Global Markets

VinFast is actively expanding its footprint in key Asian markets. In India, strategic partnerships have been formed for local dealerships, with openings in Surat and Chennai. The company is also enhancing its service capabilities and local supplier networks to better serve the Indian market. In Indonesia, recent deliveries of the VF 7 model added significant volume to the sales pipeline as the company established a stronger dealership presence.

In the Philippines, VinFast secured a 25% market share of the country's EV sales in H1 2025, affirming its stronghold in the Asian electrification trend. Additionally, in North America, VinFast has started shifting from a direct-to-consumer sales model to a dealer-focused approach, recently opening its first authorized dealership in California.

Future Outlook

VinFast is maintaining its target to at least double global deliveries by the end of 2025. The company is also beta-testing several new promotional strategies to build long-term brand awareness. The strong performance of both its e-scooter and EV lines is expected to continue, fueled by friendly government policies promoting the electrification of transport.

Leading figures within the company, including Chairwoman Madam Thuy Le, are optimistic about the future, maintaining a commitment to high-quality, affordable EVs while remaining adaptable amidst evolving market conditions. As the company aims to navigate through challenges, its vision of becoming a global leader in electric mobility stays unaltered.

For further details or to stay updated with VinFast's progress, visit their official website.