According to the company’s newly released fourth-quarter and full-year financial results in March, VinFast reported revenue of VND90.4 trillion ($3.6 billion) for 2025, up over 105 per cent on-year.
In the fourth quarter, the company delivered 86,557 electric vehicles (EVs) – an increase of 127 per cent on-quarter and 63 per cent on-year, marking its strongest quarterly performance since its establishment.
Driven by growing demand from the commercial transport and service vehicle segment, models under the Green brand and the EC Van accounted for approximately 49 per cent of total deliveries in the quarter. International markets also played an increasingly important role, representing about 18 per cent of total deliveries during the period.
For the full year, VinFast delivered 196,919 electric cars, up 102 per cent on-year. The figure exceeded the company’s target of at least doubling the previous year’s deliveries (97,399 units) and marked the highest annual delivery volume in the company’s history.
Beyond electric cars, VinFast’s e-motorcycle and e-bicycle segments also recorded strong growth. In the fourth quarter of 2025, the company delivered 171,962 two-wheel EVs, up 43 per cent on-quarter and 452 per cent on-year. For the full year, deliveries of e-motorcycles and e-bicycles reached 406,498 units, representing a 473 per cent on-year.
Another notable improvement was seen in gross margin. In the fourth quarter of 2025, gross margin stood at around negative 40 per cent, a significant improvement compared with negative 79 per cent in the fourth quarter of 2024 and negative 56 per cent in the third quarter of 2025.
Thanks to strong growth in deliveries, fourth-quarter revenue reached $1.57 billion, up almost 140 per cent on-year and 118 per cent on-quarter. For the full year 2025, gross margin improved to negative 42.5 per cent, compared with negative 57.4 per cent in 2024. By the end of 2025, VinFast had built a global network of 424 showrooms, supporting sales operations and strengthening brand recognition.
The fourth-quarter financial results marked the strongest performance in the company’s history, with several key metrics reaching new highs as early benefits from scale expansion began to materialise.
Nguyen Thi Lan Anh, CFO of VinFast said, “The company’s ability to exceed its 2025 targets while operating at around two-thirds of the capacity of its main production plant demonstrates VinFast’s capability to scale operations efficiently.”
Meanwhile, Le Thi Thu Thuy, chairwoman of VinFast, said 2025 marked a key milestone in the company’s development journey, aligned with its core mission of making EVs and the green transition more accessible to everyone.
“Every strategic decision we make, from investments in technology and manufacturing capacity to global expansion, revolves around that objective. In 2026 and the years ahead, scaling up production and optimising unit costs will remain critical drivers,” she said.
VinFast’s leadership also revealed plans for strategic investments to expand overseas manufacturing capacity, commercialise next-generation vehicle models, and strengthen cooperation with partners both inside and outside the Vingroup ecosystem to further integrate AI into its vehicles and factories.
In 2025, VinFast also stepped up its expansion strategy in key Asian markets while strengthening its global manufacturing footprint. In Vietnam, the company maintained its leading position in the car market, with an estimated 36 per cent market share in 2025, a sharp increase from around 22 per cent in 2024. The company also remained the number-one electric two-wheeler brand in the domestic market.
Internationally, VinFast has been steadily improving its market presence. In India, despite only starting vehicle sales in September 2025, the company rose from eighth place in October 2025 to fourth place by December 2025, maintaining this ranking into early 2026.
In Indonesia, VinFast ranked third among electric vehicle brands by the end of 2025. Meanwhile, in the Philippines, data from the Chamber of Automotive Manufacturers of the Philippines Inc. showed the company climbing to second place in the electric vehicle segment.
Alongside market expansion, VinFast also accelerated the development of its global manufacturing ecosystem. At the company’s main plant in Haiphong, total output reached 200,000 EVs in 2025, including nearly 26,000 units in December alone.
Throughout 2025, VinFast brought several new manufacturing facilities into operation. These included the VinFast Ha Tinh plant in Vung Ang Economic Zone, inaugurated last June after nearly seven months of construction; a factory in Tamil Nadu (India), which began operations the following August; and a plant in Subang (Indonesia), launched in December.
By the end of last year, VinFast was operating four factories worldwide with a combined maximum production capacity of around 600,000 EVs per year. This includes 300,000 units annually in Haiphong, 200,000 units in Ha Tinh, and two plants in Indonesia and India, each with a capacity of 50,000 units per year.
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