HANOI, June 10, 2025 – Vietnam’s first homegrown car manufacturer, VinFast, reported a net loss of US$712 million in the first quarter of 2025, despite a significant increase in deliveries. The electric vehicle (EV) company, aiming to compete with global giants like Tesla, delivered 36,330 EVs, a 296% year-on-year increase, driving revenues to US$656.5 million, up nearly 150% from Q1 2024. Chairwoman Thuy Le called the delivery growth an “encouraging start” amid global uncertainties. Last year, VinFast’s net loss exceeded US$3 billion. The company faces challenges penetrating international markets, compounded by U.S. tariffs and trade disruptions.
VinFast
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