VinFast Targets 80% EV Localization Rate by 2026 After Record 2025 Growth in Vietnam

Vietnam's prominent EV maker VinFast plans to elevate its localization rate from 60% to 80% by 2026.

Le Khac Hiep from Vingroup shared this goal at the '40 years of reform' conference in Hanoi.

VinFast's Explosive Growth in 2025

The company recorded revenue of $3.6 billion in 2025, surging 105.4% from 2024.

Global EV deliveries hit 196,919 units, a 102% year-over-year increase.

Despite achievements, VinFast faced a $3.9 billion net loss due to expansion investments.

Integrated Manufacturing and Localization Strategy

VinFast operates a highly automated production system spanning R&D, stamping, welding, painting, and engines.

Domestic battery cell production will support the 80% localization target.

Challenges, Impacts, and Future Outlook

Domestic suppliers lag in high-tech capabilities, demanding substantial R&D resources.

Global integration brings fiercer competition from international suppliers.

Higher localization promises to fortify Vietnam's industrial base and cut import dependency.

This move positions VinFast for global EV leadership while nurturing local supply chains.