Hanoi (VNA) – Vietnamese electric vehicle (EV) manufacturer VinFast on September 4 announced its unaudited financial results for the second quarter of this year with robust revenue growth, up 92% year on year.
VinFast's EV deliveries were 35,837 in the reviewed period, representing a 172% increase year on year
Cumulatively, in the first half of 2025, the company delivered 72,167 EVs to customers globally, up 223%.
E-scooter and e-bike deliveries were 69,580 in the second quarter, a year-on-year rise of 432%
Cumulatively, in H1, the company delivered 114,484 e-scooters and e-bikes, up 447%.
VinFast's total revenues were over 16.6 trillion VND (663 million USD) in the second quarter, an increase of 91.6% from the same period last year and 1.9% higher than the previous quarter.
It gross margin was negative 41.1% in the second quarter of 2025, compared to negative 62.7% in the second quarter of 2024. The improvement in gross margin reflects enhanced operational efficiency, driven by strong revenue growth and effective cost optimisation.
VinFast solidifies its leadership in Vietnam's domestic auto market while pioneering the country's green transformation.
The VF 3 and VF 5 continued to drive sales in the second quarter, accounting for 61% of VinFast's total deliveries. The VF 6 also performed strongly, contributing 12% to the total. This momentum helped secure spots in the top five best-selling vehicles in Vietnam for the three models, the VF 3, VF 5, and VF 6, during the first half of 2025.
The company continues to play an active role in Vietnam's green transition, supporting the national goal of having electric cars and bikes account for 30% and 22% respectively of all vehicles in circulation by 2030. VinFast is rapidly expanding its e-bike production capacity to align with the government's policies for promoting transport electrification.
The Ha Tinh plant was inaugurated in June. In its initial phase, the plant has a design capacity of up to 200,000 vehicles per year.
The presence of VinFast Ha Tinh is expected to attract auxiliary partners to set up operations in the industrial zone, creating a synchronized supply chain and advancing the goal of increasing the localisation rate in EV production over time.
The first model built on VinFast's zonal Electrical-Electronic architecture platform (Limo Green [MPV]) successfully commenced commercial production and deliveries in August. The VF 6 and VF 7 are scheduled to be upgraded to this new platform in 2026.
VinFast is expanding its presence in key Asian markets, leveraging its comprehensive and integrated electric vehicle ecosystem with strategic partners with the all-electric taxi company GSM and the global charging station developer V-Green.
In India, VinFast has signed nationwide dealer partner agreements, with initial dealerships opening in Surat and Chennai.
In the Philippines, EV sales from VinFast Philippines accounted for 25% of the country's EV market in the first six months of 2025, according to industry data.
In North America, as part of its transition from direct-to-consumer to a dealer-led distribution model, VinFast signed its first authorized dealership in California with Sunroad Automotive Group. The San Diego showroom opened on August 19, 2025.
Chairwoman of VinFast Le Thi Thu Thuy said that VinFast delivered another strong quarter with robust y-on-year growth, underscoring the continued momentum behind our growth and the global shift to electric mobility, also keeping us on track to at least double our deliveries in 2025./.
