DBT Bureau
Pune, 23 Nov 2025
VinFast Auto Ltd. announced its unaudited financial results for the third quarter ended September 30, 2025.
Driven by Strong Top-line Focus, VinFast Reports $ 719 Million in Revenue, Up 47% Year-over-Year
EV deliveries were 38,195 in the third quarter of 2025, representing an increase of 74% year-over-year and 7% quarter-over-quarter. Cumulatively, in the first nine months of 2025, the Company delivered 110,362 EVs to customers globally, representing a 149% increase year-over-year.
E-scooter and e-bike deliveries were 120,052 in the third quarter of 2025, representing an increase of 535% year-over-year and 73% quarter-over-quarter. Cumulatively, in the first nine months of 2025, the Company delivered 234,536 e-scooters and e-bikes, representing a 489% increase year-over-year.
Total revenues were VND 18,100.2 billion (US$718.6 million) in the third quarter of 2025, representing an increase of 46.8% from the third quarter of 2024 and an increase of 9.0% from the second quarter of 2025.
Madame Thuy Le, Chairwoman of VinFast, said: “This quarter, VinFast became the first automobile brand to surpass 100,000 vehicles sold in Vietnam within the first three quarters of a single year, following thirteen consecutive months as the nation’s best-selling carmaker. Our sustained market leadership at home, combined with continued progress across Asia, including being ranked among the top 8 for EV registrations in India in October 2025 and among the top 5 BEV brands in Indonesia for the first nine months of 2025, demonstrates the growing strength of our brand and the effectiveness of our regional expansion strategy.”
Lan Anh Nguyen, Chief Financial Officer of VinFast, added: “Reaching 100,000 vehicles is a proud milestone for us and reflects our strategic investments. In the third quarter of 2025, VinFast continued to deliver solid revenue growth and operational momentum, driven by strong Green Series performance and healthy demand across our broader product portfolio. We enter the fourth quarter with a robust order backlog, providing clear visibility into near-term performance and reinforcing our confidence in continued growth.”
Technology Investments to Strengthen Competitiveness
To better serve diverse customer segments and mobility needs, VinFast EVs will be marketed under three distinct brands, each with a clear market focus and identity.
VinFast – VinFast offers a smart and reliable range of mid- to high-end electric vehicles that excel in meeting users’ daily mobility needs, with a strong emphasis on safety, durability, advanced technology, and an affordable total cost of ownership. The product lineup distinguishes itself with high-quality vehicles, competitive pricing, and outstanding after-sales service.
Green Series – EV solutions for commercial purposes and raise utilization for fleets.
Lac Hong – Designed and catered to the ultra-luxury market that embodies Vietnamese hospitality, featuring premium materials and quality craftsmanship.
VinFast is investing in the latest technologies to enhance customer experience and strengthen its competitiveness. The Company is evolving its technology stack around three pillars: Vehicle platform, Electric-Electronic (EE) architecture, and ADAS (Advanced Driver-Assistance Systems)/Autonomous Driving.
VinFast is also re-engineering its EE system into a zonal architecture. Core software is now developed in-house by VinFast, while suppliers provide standardized hardware. The centralized computing hub enables rapid OTA updates, faster feature deployment, and enhanced system stability.
VinFast is taking a two-step approach to its ADAS and autonomous driving roadmap, combining collaboration with external partners and the strengthening of its in-house capabilities.
VinFast’s vision is to become a multi-brand, full-line EV manufacturer covering passenger, commercial, and autonomous mobility. The Company aims to evolve from producing EVs to building a comprehensive mobility ecosystem for everyone, everywhere.
Robust international momentum complementing Vietnam market leadership
India:
VinFast strengthened its brand presence in India through active showroom launches, operating 20 dealer stores as of September 30, 2025, while securing financing partnerships with leading banks, including State Bank of India, Central Bank of India, HDFC Bank, Axis Bank and ICICI Bank, and establishing third-party aftersales service networks.
According to data available on the Ministry of Road Transport and Highways’ VAHAN vehicle information system, VinFast was ranked in the Top 8 for EV registrations in October 2025.
Indonesia:
VinFast expanded its dealer network to 33 locations. According to data from The Association of Indonesia Automotive Industries, VinFast captured approximately 5% of Indonesia’s battery electric vehicle (“BEV”) market and ranked among the Top 5 BEV brands in terms of BEV whole sales year-to-date.
The Philippines:
VinFast has expanded its dealer network to nine showrooms nationwide.
Rest of the World:
In the U.S., the Company opened its first dealership in California and aim to strengthen brand visibility across the U.S. by partnering with its dealer network.
In Europe, VinFast unveiled its EB 8 and EB 12 electric bus models at Busworld Europe 2025 in Brussels, marking its official entry into the region’s commercial vehicle market. The EB 12, a 12-meter city bus, is now available for order and complies with UNECE and CE standards, while the more compact EB 8 will follow at a later stage.
In the Middle East, VinFast announced a strategic partnership with the Arabian Automobile Association to launch comprehensive roadside assistance across six countries, the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, and Oman, as part of efforts to strengthen aftersales service quality in the region.
Continued Financial Support for Expansion
During the quarter, VinFast signed a loan facility of US$100 million with MUFG Bank, marking the start of a long-term partnership to support VinFast’s international expansion and reinforce both parties’ commitment to advancing the global green transition. The Company also secured a US$150 million three-year loan from Barclays Bank with proceeds designated to support working capital needs and investment purpose. As of 30 September, 2025, VinFast’s available liquidity is USD 3.7 billion.
Business Outlook
Building on a foundation of steady growth and established fundamentals, VinFast has set a target of at least doubling its global vehicle deliveries in 2025. The Company expects the growth momentum in the e-scooter business to continue in the coming months, driven by favorable government policies to support two-wheeler (2W) electrification in Vietnam and the Company’s ongoing efforts to support such transition.
Going forward, the Company will continue to prioritize top-line growth through targeted strategic investments, while viewing cost rationalization as a disciplined, medium-term priority. This balanced approach enables VinFast to sustain rapid market expansion today while building a more efficient and resilient operating model for the future.
