VinFast posts $875.7m Q1 loss despite strong revenue growth

Total revenues rose 149.9 YoY.

VinFast Auto Ltd., the Vietnamese electric vehicle (EV) maker incorporated in Singapore, reported a net loss of $875.7m (VND17.7t) in the first quarter (Q1) of 2025 despite strong revenue growth.

The company's total revenues rose 149.9% year-on-year (YoY) to $806.3m (VND16.3t).

Its gross profit margin, however, remained in the red, though it improved to negative 35.2%.

To keep the company afloat, parent group Vingroup pledged up to $1.7b (VND35t) in loans through 2026.

By the end of May 2025, Vingroup had already disbursed $1.5b (VND30.5t) in loans to VinFast.

Additionally, VinFast’s Founder and CEO Pham Nhat Vuong has committed  up to $2.5b (VND50t) in free grants to VinFast and its subsidiaries.

So far, $1b (VND20.5t) from the commitment has been disbursed.
($1 = VND20,180)