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Vietnamese electric vehicle maker VinFast's Q1 loss widens on higher spending as deliveries rise
Business World Philippines
|June 11, 2025
VIETNAMESE electric vehicle (EV) maker VinFast (VF) reported on Monday its sixth consecutive quarterly net loss as it continues to ramp up spending to boost sales volumes.
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VinFast reported a net loss of $712.4 million for the first quarter, less than the $1.3 billion loss in the previous quarter but 20% more than a year earlier. Analysts' average forecast was for a $616.3 million loss, according to LSEG data.
Revenue jumped 150% to $656.5 million in January-March, compared with analysts’ average estimate of $520 million.
Deliveries leapt nearly 300% to 36,330 vehicles in the quarter, mainly driven by sales in Vietnam, its biggest market.
VinFast shares were up 10.53% in pre-market trade.
Backed by Vietnam’s largest conglomerate, Vingroup, VinFast continues to face challenges due to weak consumer demand, stiff competition, and a 25% tariff the US has imposed on imported vehicles. VinFast previously identified the US as a key growth market.
This story is from the June 11, 2025 edition of Business World Philippines.
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