VinFast Auto Ltd. announced its unaudited financial results for the first quarter ended March 31, 2025, on June 9, 2025. The company reported 36,330 EV deliveries, a substantial 296% increase year-over-year, exceeding its total deliveries for the entire first half of 2024. VF 5 and VF 6 deliveries saw significant growth of 153% and 453% year-over-year, respectively.
Total revenues reached $656.5 million, up 149.9% year-over-year, surpassing analyst estimates. The gross profit margin improved significantly to negative 35.2%, a notable improvement from negative 58.7% in Q1 2024 and negative 79.1% in Q4 2024. The net loss for the quarter was $712.4 million.
The company launched new products, including the EC Van and EB 6 electric bus platform, with deliveries expected later in 2025. VinFast also outlined plans to introduce next-generation platforms and E/E architecture starting in Q3 2025. It maintained its target to at least double global vehicle deliveries in 2025, supported by ongoing funding from Vingroup and its founder.
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