Vietnamese electric vehicle (EV) maker VinFast significantly accelerated its sales performance in the first quarter of 2025, reporting a nearly 300 percent jump in vehicle deliveries and a 150 percent surge in revenue — highlighting the company’s aggressive push to scale up operations despite a challenging global EV market.
In Q1, VinFast delivered 36,330 vehicles, up sharply from the same period last year, largely driven by strong sales in Vietnam, its core market. Revenue for the quarter reached $656.5 million, signaling improving market traction for its expanding vehicle lineup.
VinFast’s growth was fueled by the popularity of its compact and affordable EV models, particularly the VF 3 and VF 5, which together accounted for 68 percent of domestic sales. The company is also actively ramping up its international presence, with assembly operations launching in India in July, and expansions underway in Indonesia, Europe, the Middle East, and the U.S.
On the commercial front, VinFast is entering the electric bus segment, with plans to offer buses in 6-, 8-, 10-, and 12-meter sizes. The company has already delivered buses in volume domestically and sees opportunities in Asian and European markets.
To support its expansion and reduce costs, VinFast is shifting from owning retail showrooms to a dealership-based model and is also lowering R&D expenses while enhancing production efficiency. Its gross margin improved to -35.2 percent, a significant gain from -58.7 percent a year earlier.
Looking ahead, VinFast plans to launch its Limo Green platform in Q3, which will underpin a new generation of EVs starting in 2026. Despite persistent cost challenges and stiff global competition, VinFast is betting on regional growth and strategic model offerings to fuel long-term scalability.
VinFast’s Strategic Expansion Plan
Major Push into India
VinFast is finalizing a $2 billion investment in a Thoothukudi manufacturing facility in India, set to begin operations by end of June 2025, with an initial capacity of 50,000 vehicles/year, expandable to 150,000 vehicles/year, and creating ~3,000–3,500 jobs.
VinFast announced the launch of VF7 and VF6 models in 33 Indian cities starting June, with bookings open later in the month, targeting the festival season.
VinFast is in discussions with authorities in Andhra Pradesh and Telangana for potential factories, indicating a long-term multi-state presence.
Indonesia Factory Launch
A new assembly plant in Subang, West Java, is scheduled to open October 2025, marking an entry into Southeast Asia manufacturing.
VinFast plans to build infrastructure alongside assembly — targeting up to 100,000 charging stations in Indonesia.
Expansion into Electric Buses
Leveraging its existing capability in Vietnam, VinFast plans to offer electric buses in 6, 8, 10, and 12-meter variants across Asia, Europe, Middle East, and U.S.
The North Carolina factory is delayed until 2028 due to high logistics costs and uncertain markets.
Similarly, expansion in the U.S., Canada, and Europe has been put on hold amid tariff pressures and cost concerns.
In Vietnam, VinFast is scaling production with plans for a second plant in Ha Tinh, catering to high-demand VF3 and VF5 models.
The company is laying out investments in a comprehensive EV ecosystem — battery production, fast-charging networks, and dealership support — to underpin global rollout.
GreentechLead.com News Desk