VinFast Posts Heavy Loss Despite EV Surge

VinFast records the increase in EV sales, but the loss doubles in the quarter as it becomes more aggressive in expanding its operations internationally.

VinFast, a Vietnamese EV manufacturer, has recorded a net loss of over $900 million in the third quarter, although EV sales had grown by a considerable margin. The company is a subsidiary of the Vingroup conglomerate that is driving to go head-on with the major global EV players following its Nasdaq listing in 2023.

The quarterly loss of VinFast amounted to 24 trillion dong, or $910 million, almost twice as much as the loss experienced in the same time period last year. Nonetheless, EV deliveries increased dramatically, to 38,200 in Q3, as well as 110,000 vehicles overall delivered by the end of 2025; that is a 149 percent year-over-year growth.

Chairwoman Thuy Le attributed the increasing EV revenue of the company to the increasing regional strategy. VinFast, which incurred losses of over 3 billion dollars last year, has been busy spending heavily on showrooms and production throughout China, the Middle East, Europe, the US, and Canada.

VinFast has more than 400 showrooms around the world and hopes to consolidate its presence in competitive markets as a producer of EVs. The e-cars, e-buses and e-scooters of the company have become ubiquitous in Vietnam and cities such as Hanoi and Ho Chi Minh City, where the company has its operations, are considering imposing a requirement to use e-vehicles in specific areas in order to limit pollution.

VinFast does not lose sight of the goals of expanding its EV business and speeding up its acceptance rates in the country and abroad despite the financial setbacks.