VinFast reports strong electric vehicle sales in Q3
VinFast Auto Ltd., a pure-play electric vehicle (EV) manufacturer in Vietnam, reported robust financial results in the third quarter of this year, demonstrating substantial growth in EV deliveries and revenue, signaling the company’s strong market positioning and expansion strategy.
Hanoi (VNA) - VinFast Auto Ltd., a pure-play electric vehicle (EV) manufacturer in Vietnam, reported robust financial resuꦺlts in the third quarter of this year, demonstrating substantial growth in EV deliveries and revenue, signaling the company’s strong market positioning and expansion strategy.
According to its unaudited financial report, the company delivered 21,912 EVs in July-September, rising 66% against the second quarter and up 115% year-on-year. The firm’s total revenue reached some 12.32 trillion VND (511.6 million USD), up 49.3% year-on-year.
VinFast has solidified its dominance in the Vietnamese market, achieving a historic milestone by becoming the best-selling automotive brand in September, October, and the first 10 months of 2024. In October alone, the company delivered over 11,000 EVs, a 21% increase from September, bringing the year-to-date total to 51,000 vehicles.
The automaker is strategically expanding its global footprint, with a network of 173 automotive showrooms and 160 electric motorcycle service centres as of October 31, 2024. Key international markets include Canada, India, Indonesia, the Philippines, and the US.
VinFast Chairwoman Le Thi Thu Thuy said the third-quarter results are a crucial stepping stone to achieve the firm’s target of 80,000 vehicle deliveries in 2024. With a strategy of sustainable growth and strong determination, VinFast will continue to make significant contributions to the global green mobility revolution./.
Vingroup, Vietnam’s largest private conglomerate and its Chairman Pham Nhat Vuong, has announced a significant financial commitment to VinFast, the Nasdaq-listed Vietnamese electric vehicle maker.
VinFast Automaker, a subsidiary of Vingroup, announced on November 12 that it delivered over 11,000 electric vehicles (EVs) in October, raising the total deliveries to more than 51,000 units, securing its position as the top-selling car brand in Vietnam in the first ten months of 2024.
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