HÀ NỘI — Vietnamese electric vehicle (EV) manufacturer VinFast reported a remarkable performance for the first quarter (Q1) of 2025, with revenue soaring nearly 150 per cent year-on-year and electric vehicle deliveries surpassing the total figure for the first half of the previous year.

VinFast reported delivering 36,330 electric cars in Q1, up 296 per cent from the same period in 2024 and surpassing total deliveries in the first half of last year. It also delivered 44,904 electric scooters and bicycles, a 473 per cent year-on-year increase.

In Q1, the carmaker recorded total revenue of VNĐ16.3 trillion (US$656.5 million), up 150 per cent year-on-year. However, the company also reported a gross loss of nearly VNĐ5.74 trillion and a net loss of nearly VNĐ17.7 trillion for the period.

As of the end of April, VinFast had established a network of 388 stores worldwide, comprising both direct-to-consumer showrooms and authorised dealership systems.

Lê Thị Thu Thủy, Chairwoman of VinFast, said: "We are beginning to see improved operating leverage as volume growth and a streamlined footprint translate into a more efficient cost structure. Looking ahead, our next-generation EV platform and E/E architecture is intended to further BOM cost optimisation, enhancing product quality, performance, and affordability across our lineup."

Aiming to double vehicle deliveries this year, VinFast is focusing on key markets including Việt Nam, Indonesia, the Philippines, India, North America, and Europe, while also exploring new opportunities in the Middle East and Africa. — VNS