ZNews•08/06/2026
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Thanks to positive sales results, VinFast 's global revenue in the first quarter reached VND 23,111 billion. Photo: VIC. |
According to the Q1 business results announced on June 8th, VinFast delivered 58,577 electric vehicles in the first quarter of this year, a 61% increase compared to the same period in 2025. Of these, overseas markets contributed approximately 8% of the total number of vehicles delivered.
In Vietnam, VinFast has continued to maintain its leading position in the automotive market since September 2024. Sales of vehicles delivered in the first quarter of this year also increased by 53% compared to the same period last year.
In international markets, Southeast Asia and India continue to be key regions for the Vietnamese electric vehicle manufacturer. By the end of the first quarter, VinFast reported leading the all-electric vehicle market in the Philippines, ranking 4th in India and 8th in Indonesia.
Besides electric cars, the electric motorcycle and electric bicycle segments also recorded strong growth. In the first quarter, the company delivered 143,136 two-wheeled electric vehicles, a 219% increase compared to the same period last year.
In March alone, VinFast received over 135,000 orders for electric motorcycles and delivered more than 93,000 vehicles to dealerships nationwide. According to the company, this result shows the strong trend of shifting towards green transportation.
Currently, VinFast leads the domestic electric motorcycle market share and accounts for approximately 17% of the entire motorcycle industry market share, including gasoline-powered motorcycles, in March.
Thanks to strong sales results, VinFast's global revenue in the first quarter reached VND 23,111 billion (equivalent to USD 920.7 million), a 42% increase compared to the same period last year. The company stated that the increase was mainly driven by the growth momentum of the Vietnamese market, along with contributions from emerging markets such as India, Indonesia, and the Philippines.
However, the cost of goods sold increased faster than revenue, reaching VND 40,116 billion, resulting in a gross loss of VND 17,005 billion for the quarter, nearly three times higher than the same period last year.
As a result, VinFast's operating losses increased to VND 22,862 billion. After recording financial income and expenses, the company incurred a net loss of VND 28,108 billion (approximately USD 1.12 billion), an increase of nearly 59% compared to the same period last year.
Regarding its operations, billionaire Pham Nhat Vuong's electric vehicle company stated that it is continuing to expand its distribution and service network. As of the end of the first quarter, VinFast owned 447 electric vehicle showrooms globally.
Regarding this year's targets, VinFast plans to deliver 300,000 electric cars, while increasing electric motorbike production by at least 2.5 times compared to last year, aiming for a total scale of approximately 1 million vehicles.
In mid-May, VinFast announced plans to separate several core divisions from VFTP – the unit currently responsible for the company's manufacturing and business operations in Vietnam. The divisions being transferred to the new legal entity include electric vehicle design and styling, product development, technical features, branding, market strategy, sales, research and development (R&D), intellectual property, and after-sales service.
Following the restructuring process, VinFast plans to transfer its entire stake in VFTP to a group of investors led by Future Investment Research and Development JSC. This group includes Mr. Pham Nhat Vuong as a minority investor. The transaction is valued at approximately VND 13,310 billion, equivalent to about USD 530 million.
According to the company's leadership, the essence of the restructuring plan is that Future Investment and Development Research Joint Stock Company, along with Mr. Pham Nhat Vuong, will acquire two VinFast factories in Hai Phong and Ha Tinh for over 13,300 billion VND, and simultaneously take over the majority of VinFast Vietnam's debt obligations and payables, totaling approximately 182,000 billion VND as of the end of the first quarter of this year.
Following the transaction, VinFast Vietnam will shift to an outsourcing model for its domestic manufacturing operations, while retaining its global production. The remaining parts not covered by the transaction will remain with VinFast and continue to operate normally.
According to the automaker's representatives, the new model will help VinFast significantly reduce financial costs and depreciation – two factors that have greatly affected business results over the years. After restructuring, VinFast Vietnam is expected to have no significant outstanding debt on its balance sheet.
VinFast currently aims to become profitable from 2027. Through this restructuring, the electric vehicle manufacturer hopes to shorten the time to break even and build a more sustainable operating model in the long term.
Source: https://znews.vn/vinfast-thu-hon-23000-ty-mot-quy-post1658068.html
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