VinFast Reports $3.9 Billion Net Loss in 2025 Despite Record EV Deliveries and Revenue Surge

Vietnam's pioneering electric vehicle manufacturer VinFast announced a massive $3.9 billion net loss for the full year 2025, highlighting ongoing profitability struggles amid rapid expansion.

Despite the losses, the company's revenue soared to $3.6 billion, reflecting a robust 105.4 percent growth compared to 2024, with Q4 revenue alone at $1.57 billion.

Improved Margins and Explosive Delivery Growth

Gross margin showed progress, narrowing to negative 42.5 percent for the year from negative 57.4 percent in 2024.

VinFast achieved record global EV deliveries of 196,919 vehicles in 2025, more than doubling the 97,399 units from the previous year.

Q4 deliveries reached 86,557 EVs, a 63 percent year-over-year increase, bolstered by commercial models under the Green brand accounting for 49 percent.

Market Leadership in Vietnam

In Vietnam, VinFast clinched a commanding 36 percent automotive market share by year-end, up sharply from 22 percent in 2024.

E-scooter and e-bike deliveries exploded to 406,498 units annually, surging 473 percent from 2024 levels.

Global Expansion and Path Forward

Supported by parent conglomerate Vingroup, VinFast now runs four manufacturing facilities worldwide with a combined 600,000 EV annual capacity in Vietnam, Indonesia, and India.

Partnerships like the one with VinRobotics promise enhanced productivity through advanced automation.

Founded in 2017 and shifting fully to EVs in 2022, VinFast's aggressive investments fuel growth but exacerbate losses.

These financial pressures impact Vingroup, yet surging sales signal potential for future breakeven as international markets mature.