VinFast's revenue for the first half of the year, totaling 2.1 billion USD, was primarily driven by vehicle sales. According to the Q2 financial report released on 19/10, the company generated approximately 50,445 billion VND from its core business operations, accounting for 95% of its total revenue.

Globally, the automaker delivered approximately 128,685 electric cars during the first six months, a 77% improvement year-over-year. Additionally, nearly 430,000 electric motorcycles and bicycles were sold. Despite this, VinFast recorded a net loss after tax of nearly 28,400 billion VND, an improvement from the over 38,300 billion VND loss reported in the same period last year.

The new generation VF8 model. Photo: VinFast

As of 30/6, VinFast's total assets stood at nearly 75,000 billion VND, a decrease of approximately 107,000 billion VND since the beginning of the year. The company's accumulated loss also decreased, from nearly 174,000 billion VND to 116,807 billion VND.

In the first half of the year, VinFast underwent a restructuring by divesting from VinFast Trading & Production (VFTP) Joint Stock Company. VFTP held VinFast's manufacturing segment, including two factories in Vietnam and a number of other assets. As of 31/3, VFTP was also responsible for all of VinFast's financial debts, amounting to approximately 182,000 billion VND.

Under the new structure, VFTP will continue to produce vehicles on order for VinFast. Meanwhile, VinFast, led by billionaire Pham Nhat Vuong, will focus on distribution, warranty, after-sales service, and brand development.

Experts suggest that separating VinFast's manufacturing segment in Vietnam could accelerate the automaker's path to profitability. This move is also expected to improve cash flow by significantly reducing production costs.

Trong Hieu