VinFast, an electric vehicle (EV) brand from Vietnam, saw an improved growth in deliveries and revenue in 2025. The company said it sees the past year as an optimistic outlook, despite its challenging journey as an emerging automaker in the now-hotly contested EV segment.
In detail, the brand sold 196,919 vehicles worldwide last year, more than doubling its 2024 total and exceeding its own expectations. Meanwhile, its Q4 2025 performance yielded a total of 86,557 units, up 127% from the previous quarter and 63% year-on-year. According to VinFast, nearly half of these came from its commercial-oriented models under its Green brand and the EC Van.
International markets accounted for 18% of quarterly deliveries for the first time. This signals an early traction outside its home market. Moreover, VinFast also saw rapid expansion in its two-wheel business, delivering 406,498 e-scooters and e-bikes in 2025, a 473% increase from the previous year.
Financially, VinFast generated a total revenue of VND90.4 trillion (or P205,895,040,000 in today’s exchange rate) in 2025, a 105.4% year-on-year record. On the other hand, its Q4 2025 revenue rose to VND39.4 trillion (or P89,737,440,000), reflecting strong sequential growth. Despite these gains, VinFast remains in the red. Gross margin may have improved slightly, but was not enough as it stayed negative at -42.5% for the year, compared to -57.4% in 2024. The company attributed the improvement to economies of scale and cost optimization.
Production capacity has also expanded last year. VinFast now operates four factories globally with a combined annual output of 600,000 EVs. New plants in India and Indonesia began operation in 2025, marking its first overseas manufacturing footprint.
In its home country, VinFast maintained its leadership position with an estimated 36% market share. It also ranked among the top battery-electric vehicle (BEV) brands in several Asian markets. The company cited the latest report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), highlighting it as the Number 2 BEV brand in the country.
Looking ahead, VinFast plans to focus on reducing costs and scaling production to move toward profitability. Upcoming product developments include next-generation versions of the VF 6 and VF 7, along with expanded MPV offerings for both private buyers and fleet operators.
Finally, the company is also investing in automation and artificial intelligence (AI) technology through partnerships within the Vingroup ecosystem. It also plans to continue its research and development of advanced driver assistance systems and autonomous vehicle tech.
Autocar’s Take
VinFast’s numbers show a company growing quickly, but still far from financial stability. Doubling down on deliveries and upping the revenue in just a year is no small feat, especially in the competitive EV space. However, persistent negative margins highlight the cost of aggressive expansion.
For VinFast, the strategy is clear: scale first, profitability later. The question, however, is whether the market will give VinFast enough time to get where it needs to be in terms of profitability and financial stability. The answer to this remains uncertain, but its growing presence in Asia, including the Philippines, is telling an optimistic idea about its foreseeable future as a car company.
