Thursday, October 2, 2025
26.1 C
New Delhi

EV maker VinFast’s quarterly loss widens amid heavy spending on ambitious growth strategy



<p>The company recently opened a new assembly plant in India and has plans to establish another facility in Indonesia.</p>
<p>“/><figcaption class= The company recently opened a new assembly plant in India and has plans to establish another facility in Indonesia.

Vietnamese electric-vehicle maker VinFast on Thursday reported a wider second-quarter net loss as it stepped up spending on global expansion and marketing to spur demand and support its ambitious growth strategy.

The EV maker, however, reaffirmed its commitment to achieving breakeven by the end of 2026. Founder and CEO Pham Nhat Vuong last month pledged an additional $1.5 billion to the automaker in exchange for R&D assets to support its expansion plans.

VinFast is intensifying promotional activities in its home market while shifting from a company-owned showroom model to a lighter, dealership-based approach to expand more quickly and reduce costs.

The company recently opened a new assembly plant in India and has plans to establish another facility in Indonesia as it seeks to strengthen its footprint across Asia.

“We stick to our goal this year and are flexible with our market approach amid (the) changing global situation,” said Thuy Le, the company’s chairperson.

The EV maker reported a net loss of $812.0 million for the quarter ended June 30, 15 per cent more than the previous quarter.

Revenue rose 1.9 per cent from the prior quarter and 91.6 per cent year-on-year to $663 million.

Vehicle deliveries climbed 172 per cent year-on-year to 35,837 units in the quarter, bringing total deliveries for the first half of 2025 to 72,167, compared with its annual sales target of 200,000 units, with VinFast’s home market of Vietnam remaining its largest.

  • Published On Sep 4, 2025 at 05:38 PM IST

Join the community of 2M+ industry professionals.

Subscribe to Newsletter to get latest insights & analysis in your inbox.

All about ETAuto industry right on your smartphone!

Go to Source

Hot this week

US Government shutdown: Will the Statue of Liberty go dark? Here’s what’s happening

The United States government officially shut down at 12.01 am Wednesday (October 1), leaving citizens with a lot of questions, including whether the Statue of Liberty and Ellis Island will be open or not. Read More

Israel delivers ‘final warning’ for Gaza City residents to evacuate as it intensifies its military ops

The Israeli military on Wednesday issued a ‘final warning’, insisting that it is the ’last opportunity’ for the Gaza City residents to evacuate their homes as the Jewish nation intensifies its bombardment of the coastal enclave. Read More

10 Life Lessons From Mahatma Gandhi To Inspire Your Daily Life

Published By : Last Updated:October 02, 2025, 06:37 IST Gandhi Jayanti 2025: Gandhi’s life embodied purposeful living. His teachings on truth, simplicity, non-violence, and discipline continue to guide ethical and meaningful choices. Read More

Gandhi Jayanti Wishes 2025: Top Quotes By Mahatma Gandhi To Motivate Change And Peace

Published By : Last Updated:October 02, 2025, 06:33 IST Gandhi Jayanti Quotes And Wishes: Celebrate the day by reflecting on Mahatma Gandhi’s timeless wisdom, powerful quotes, and his teachings of truth, non-violence, and equality. Read More

Dusshera 2025 LIVE Updates: PM Modi Extends Wishes On Vijaya Dashmi, Set To Attend Festivities In East Delhi

Happy Dussehra (Vijayadashami) 2025 Celebration in India Live Updates: The festive spirit is in full swing as India prepares to celebrate Dussehra 2025, the symbolic triumph of good over evil. Read More

Topics

US Government shutdown: Will the Statue of Liberty go dark? Here’s what’s happening

The United States government officially shut down at 12.01 am Wednesday (October 1), leaving citizens with a lot of questions, including whether the Statue of Liberty and Ellis Island will be open or not. Read More

Israel delivers ‘final warning’ for Gaza City residents to evacuate as it intensifies its military ops

The Israeli military on Wednesday issued a ‘final warning’, insisting that it is the ’last opportunity’ for the Gaza City residents to evacuate their homes as the Jewish nation intensifies its bombardment of the coastal enclave. Read More

10 Life Lessons From Mahatma Gandhi To Inspire Your Daily Life

Published By : Last Updated:October 02, 2025, 06:37 IST Gandhi Jayanti 2025: Gandhi’s life embodied purposeful living. His teachings on truth, simplicity, non-violence, and discipline continue to guide ethical and meaningful choices. Read More

Gandhi Jayanti Wishes 2025: Top Quotes By Mahatma Gandhi To Motivate Change And Peace

Published By : Last Updated:October 02, 2025, 06:33 IST Gandhi Jayanti Quotes And Wishes: Celebrate the day by reflecting on Mahatma Gandhi’s timeless wisdom, powerful quotes, and his teachings of truth, non-violence, and equality. Read More

Dusshera 2025 LIVE Updates: PM Modi Extends Wishes On Vijaya Dashmi, Set To Attend Festivities In East Delhi

Happy Dussehra (Vijayadashami) 2025 Celebration in India Live Updates: The festive spirit is in full swing as India prepares to celebrate Dussehra 2025, the symbolic triumph of good over evil. Read More

Kantara Chapter 1: Movie review and live updates

‘Kantara Chapter 1’ is directed by Rishab Shetty. The actor also plays the lead role. Kantara Chapter 1 also stars Jayaram, Rukmini Vasanth, and Gulshan Devaiah in pivotal roles.The much-awaited Kantara Chapter 1 has finally arrived in theatres. Read More

SSKTK FIRST reviews: Netizens call it a ‘fun, family entertainer’

‘Sunny Sanksari ki Tulsi Kumari’ has now released in cinemas and it’s seeing a big clash with Rishabh Shetty’s ‘Kantara: Chapter 1’. Read More

Has Sreeleela replaced Janhvi Kapoor in Dostana 2?

Dostana 2 has seen major cast changes, with Vikrant Massey and Lakshya now confirmed as leads after Kartik Aaryan and Janhvi Kapoor reportedly exited. Read More

Related Articles