VinFast’s Impressive Growth in Electric Mobility: Q2 2025 Highlights
A Surge in Revenue
In the rapidly evolving landscape of electric vehicles, VinFast, the renowned Vietnamese manufacturer, has made remarkable strides. In Q2 2025, the company reported a staggering revenue of over VND16,609 billion (approximately $663 million). This figure marks an impressive 91.6% increase year-on-year and a slight 1.9% rise compared to the previous quarter. Such robust financial performance reinforces VinFast’s growing influence in the EV sector.
Navigating Financial Challenges
Despite the significant revenue growth, VinFast faced considerable operational challenges. The quarter saw a gross loss of VND6,825 billion ($272.4 million) and a net loss nearing VND20,342 billion ($812 million). The gross margin, while still negative at -41.1%, showed improvement compared to -62.7% in the same quarter of the previous year. This progress highlights the company’s efforts to enhance operational efficiency, driven by its booming revenue and cost optimization strategies.
Strong Sales Performance
VinFast’s delivery figures for electric vehicles are noteworthy. The company delivered 35,837 EVs in Q2 2025, marking a 172% year-over-year increase while maintaining steady quarter-over-quarter numbers. Cumulatively, during H1 2025, VinFast delivered 72,167 EVs globally—an impressive 223% increase compared to the same period in 2024.
Furthermore, the company reported significant strides in the e-scooter and e-bike segments, with 69,580 units delivered, reflecting a 55% rise quarter-over-quarter and a staggering 432% year-over-year increase. Over the first half of 2025, a total of 114,484 e-scooters and e-bikes found their way to customers, showcasing VinFast’s ambitious plans in the electrification of two-wheelers.
Leading Vietnam’s Green Transition
VinFast is not just a player in the automotive industry; it is also a pivotal force in Vietnam’s green transformation. The company is solidifying its position in the domestic market, with its models—the VF 3, VF 5, and VF 6—together representing 73% of total deliveries in Q2. Notably, these models ranked among the top five best-sellers in the Vietnamese market in the first half of 2025.
The company is on a mission to fulfill the Vietnamese government’s objectives of having electric vehicles constitute 30% and 22% of all circulating vehicles by 2030. As part of this initiative, VinFast is expanding its e-bike production capabilities and inaugurated its second EV factory in Ha Tinh in June 2025, designed to produce up to 200,000 vehicles annually.
Expansion into Global Markets
VinFast is aggressively pursuing growth beyond its home turf. The company aims to expand its footprint in key Asian markets, taking significant steps in India, Indonesia, and the Philippines. In India, it has established dealer partner agreements and opened its first dealerships in Surat and Chennai. In Indonesia, VinFast’s deliveries constituted about 5% of its total volume during the quarter, with the rollout of the VF 7—its fifth model—in the pipeline for 2025.
In the Philippines, VinFast’s presence is equally impressive, with its vehicles capturing a notable 25% share of the country’s EV market in the first half of 2025. The company’s international strategy also includes a shift in North America towards a dealer-led distribution model, beginning with the opening of a dealership in California.
Looking Ahead
With these significant accomplishments, VinFast has reaffirmed its commitment to doubling global deliveries in 2025, focusing on various markets, including Vietnam, Indonesia, the Philippines, India, North America, Europe, and the Middle East. The company continues to evaluate opportunities across different vehicle types while enhancing its diverse SUV offerings.
As it navigates the evolving landscape of electric mobility, VinFast remains optimistic, foreseeing tremendous potential in its core Asian markets and gearing up for continued growth, underscored by favorable governmental policies supporting electrification.
With a clear focus on scaling production efficiently while managing costs, VinFast’s trajectory reflects its ambition to not only lead in Vietnam but also carve a significant niche in the global electric vehicle market.