Vietnamese electric vehicle maker VinFast on February 22 announced its Q4 revenue of 437 million USD, up 26% from the previous quarter and 133% year-on-year. This growth was driven by both higher sales volumes and an improved product mix.
Hanoi (VNS/VNA) - Vietnamese electric vehicle makerVinFast on February 22 announced its Q4 revenue of 437 million USD, up 26% fromthe previous quarter and 133% year-on-year. This growth was driven by bothhigher sales volumes and an improved product mix.
The company reported 1.2 billion USD in revenue for fiscal year2023, representing an increase of 91% from 2022. Gross loss was 174.9 million USDin Q4/2023, and 551.6 million USD in FY 2023.
VinFast’s gross profit margin showed significant improvementcompared to the previous fiscal year. Gross margin was negative (46%) in FY2023, compared to negative (82%) in FY 2022. In the fourth quarter of 2023,gross margin reached negative (40.1%), compared to negative (82.6%) in thefourth quarter of 2022.
Le Thi Thu Thuy, Chairwoman of the Board of Directors, said 2023was a whirlwind of first for VinFast, culminating in a strong public debut.They launched exciting new products, expanded their distribution network, andsolidified their presence in existing markets while opening doors to promisingnew ones. These moves laid a strong foundation for 2024 to be a year of globalexpansion and cost optimisation.
VinFast delivered a total of 34,855 electric vehicles in FY 2023,marking a 374% increase compared to the previous year. This included 13,513electric vehicles in the Q4, up 35% from the third quarter of 2023.
Despite a slight decrease in Q4/2023 compared to the thirdquarter, e-scooter deliveries also saw significant growth of 48% year-on-yearfor a total of 72,468 units in 2023./.
Vietnamese automotive manufacturer, VinFast, has officially launched its first right-hand drive electric vehicles for the Indonesian market at the Indonesia International Motor Show (IIMS) 2024.
Vietnamese electric vehicle (EV) maker VinFast signed the Letters of Intent with its first five dealers in Indonesia on February 16 while attending the Indonesia International Motor Show (IIMS) which is taking place from February 15 to 25.
Vietnamese electric vehicle (EV) maker VinFast said on February 21 that it will break ground for its integrated electric vehicle (EV) manufacturing site in Thoothukudi city, India’s Tamil Nadu state, on February 25.
VinFast, Vietnam’s first electric vehicle (EV) manufacturer, on February 22 announced that it has just signed a memorandum of understanding (MoU) with three Indonesian business clients to provide 600 EVs for their corporate fleets.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
VinFast VF 8 All-Electric SUV. (Photo: VinFast) 
