For the full year 2025, Vinfast delivered 196,919 EVs globally.NASDAQ-listed Vietnamese electric vehicle maker Vinfast doubled its sales in 2025, it said Monday, but losses widened to $3.9 billion.
CEO Pham Nhat Vuong is Vietnam’s richest person and Vinfast aims to compete with global EV giants such as Tesla.
But it has struggled to break into the international market and has now reported combined losses of well over $9 billion in the three years since it listed on the Nasdaq exchange in New York, even as sales have climbed.
Fourth-quarter revenues reached 39.4 trillion dong ($1.57 billion), up nearly 140 percent year-on-year, it said in a statement, with increasing contributions from new markets including India, Indonesia and the Philippines.
But it reported a net loss of $1.4 billion for the period.
For the full year 2025, it delivered 196,919 EVs globally, it said, doubling units sold year-on-year, with 11 percent of them outside Vietnam.
The figure “represents VinFast’s highest annual deliveries since inception”, it said.
But its net loss for the year was 97.2 trillion dong ($3.87 billion), 25.7 percent worse than 2024, when it tripled deliveries.
Vinfast shares soared when it debuted on the Nasdaq in August 2023, at one point reaching a market value bigger than US auto giants Ford and General Motors, but have since slumped.
With more than 100 showrooms globally, Vinfast is trying to crack markets in Asia, the Middle East, Europe, the United States and Canada.
Lan Anh Nguyen, Chief financial officer of Vinfast, said the annual results “reflect a focus on accelerating revenue growth while improving operating efficiency over time”.
