VinFast, the electric vehicle (EV) manufacturer under Vietnam’s top conglomerate Vingroup, posted a net loss of $1.4 billion in the fourth quarter of 2025, totaling $3.9 billion for the whole year.
According to its preliminary and unaudited financial results released on Tuesday, for the full year 2025, revenue totaled VND 90,427.6 billion ($3.6 billion), representing 105.4 percent growth compared with 2024.
The figure included VND39,411.7 billion ($1.57 billion) in the last quarter of 2025.
The company’s gross margin improved to negative 39.9 percent in the fourth quarter of 2025. For the full year, gross margin was negative 42.5 percent, compared with negative 57.4 percent in 2024.
Regarding vehicle deliveries, VinFast said in the fourth quarter of 2025, the company delivered 86,557 EVs, representing a 63 percent increase year-over-year.
Commercial models under the Green brand and the EC Van accounted for approximately 49 percent of total deliveries during the period. International markets contributed around 18 percent of total vehicle deliveries for the quarter.
For the full year 2025, global EV deliveries reached 196,919 vehicles, a 102 percent increase compared with 2024. The result exceeded the company’s guidance of at least doubling the 97,399 EVs delivered in 2024, marking the highest annual deliveries since the company’s inception.
Deliveries of e-scooters and e-bikes also increased. In the fourth quarter, the company delivered 171,962 units, up 43 percent quarter-over-quarter and 452 percent year-over-year. For the full year, deliveries totaled 406,498 units, representing a 473 percent increase from 2024.
In Vietnam, VinFast ended 2025 with an estimated 36 percent automotive market share, up from approximately 22 percent in 2024. VinFast remained the leading e-scooter brand in the Southeast Asian country.
As of the end of 2025, VinFast operated four manufacturing facilities globally with a combined maximum capacity of approximately 600,000 EVs per year, including plants in Hai Phong, Ha Tinh, Indonesia, and India. The company also produces e-scooters in Hai Phong with an annual capacity of about 500,000 units.
VinFast is collaborating with VinRobotics, a sister firm in the Vingroup ecosystem focusing on robotics, automation systems, and artificial intelligence technologies for manufacturing. The partnership strives to improve factory productivity, quality control, and operational efficiency.
Vietnam’s VinFast signs dealer agreements to approach Indonesia’s e-scooter market
