Vietnamese electric vehicle maker VinFast said it expects to have delivered about 170,000 vehicles in Vietnam last year, nearly double the volume recorded in 2024 (06/01).

The preliminary figure highlights strong growth in VinFast’s core domestic market, even as the company continues to face difficulties expanding overseas.

Vietnam Remains VinFast’s Core Growth Market

Most of VinFast’s deliveries continue to come from Vietnam, where the company benefits from strong brand recognition.

The domestic EV market is growing, and VinFast also receives support from its parent conglomerate, Vingroup.

VinFast has seen little success in North America and other international markets.

Competition remains intense, and consumer adoption has been slow in those regions.

Share Performance Reflects Ongoing Challenges

U.S.-listed shares of VinFast fell about 17% last year.

The decline followed a drop of more than half in 2024, driven by ongoing losses and uncertainty about the company’s prospects outside Vietnam.

In February last year, VinFast said it expected to at least double global EV deliveries in 2025.

However, the company did not disclose how many vehicles it delivered in international markets during 2025, underscoring its reliance on Vietnam amid price pressure, infrastructure constraints, and subdued demand in some global markets.

PHOTO: VINFAST

This article was created with AI assistance.