Vinfast recently released its unaudited second-quarter financial report, showing revenue of 16.609 trillion VND (about $663 million USD), a 92% increase compared to the same period last year. The company's revenue improvement is attributed to a 172% rise in electric vehicle deliveries, reaching 35,837 units.

Sales of electric motorbikes and bicycles also increased fivefold compared to the second quarter of 2024. Vinfast stated that product deliveries to consumers accounted for 70% of total revenue.

However, the high cost of goods sold resulted in a gross loss of 6.825 trillion VND. After deducting expenses, Vinfast reported a net loss of 20.341 trillion VND, compared to a net loss of 18.764 trillion VND during the same period last year.

For the first six months of 2025, Vinfast recorded revenue of 32.915 trillion VND (over $1.3 billion USD), more than double the revenue from the first half of 2024. During this period, the company sold 72,167 electric vehicles globally, more than three times the number sold in the same period of the previous year. Despite this growth, the company still incurred a loss of 37.987 trillion VND.

Vinfast Lac Hong 900 LX. Photo: Vinfast.

Vinfast Lac Hong 900 LX. Photo: Vinfast.

At the end of the second quarter, Vinfast's total assets reached 181.463 trillion VND, a 16% increase from the beginning of the year. The company's accumulated losses amounted to 305.780 trillion VND, leading to negative shareholder equity of 100.232 trillion VND.

In June, Vinfast inaugurated a factory in Ha Tinh with a maximum design capacity of 200,000 vehicles per year. On 8/4, Vinfast further expanded its manufacturing footprint by completing a 160-hectare production facility in Thoothukudi, Tamil Nadu, India, with a capacity of 50,000 vehicles per year. The company also plans to build a dedicated complex to bring together local parts suppliers, supporting its future strategic expansion.

In 2023, Pham Nhat Vuong, Chairman of the Board of Directors and CEO of Vinfast, stated that the company expected to experience losses for several years, as part of the management board's plan. He affirmed his commitment to Vinfast, stating he would continue investing "until he runs out of money."

According to Vingroup's audited financial report for the first half of 2025, Pham Nhat Vuong provided Vinfast with 23 trillion VND in funding during the past six months. This brings his total support to the company to approximately 50 trillion VND since 2023.

Vinfast aims to sell 200,000 vehicles in 2025. "This would be a record number of vehicles sold by any manufacturer in Vietnam. If we achieve this target, the company could reach the break-even point this year," stated Pham Nhat Vuong at Vingroup's 2025 annual meeting.

Trong Hieu