VinFast's 2025 Net Loss Widens to $3.9 Billion; Plans Hybrid Models and Southeast Asia Expansion

Vietnamese automaker VinFast recently released its 2025 financial results: despite doubling its electric vehicle deliveries to 196,919 units and achieving a 105% year-over-year revenue increase to $3.59 billion, its net loss widened to $3.87 billion, up 26% compared to the previous year. The primary reasons include a surge in cost of sales to $5.13 billion and a $236 million impairment loss stemming from delays in its U.S. factory project. Approximately 89% of the company’s sales came from its domestic market in Vietnam. VinFast plans to restart construction of its U.S. factory in 2026, targeting production commencement by 2028. To accelerate its transition, the company will introduce hybrid models as a bridge solution and expand its electric scooter business into markets such as Thailand and Indonesia. Its two-wheeler sales exceeded 400,000 units in 2025. VinFast aims to achieve 300,000 electric vehicle deliveries in 2026 and is striving to reach breakeven within the same year.