VinFast Delivers 21,912 Electric Vehicles in Q3

(Vietnamese EV maker VinFast (NASDAQ:VFS) announced on Tuesday that it delivered 21,912 electric vehicles in the third quarter, a 66% increase from the previous quarter.)

September Highlights

• VinFast delivered over 9,300 EVs in Vietnam during September, achieving the highest monthly deliveries in the country.

Financial Overview

• The company reported a larger second-quarter loss due to costs associated with overseas expansion and impairment charges, despite an increase in revenue.

Market Strategy

• VinFast is aggressively expanding into Asian markets, including Indonesia, to meet rising EV demand in the region, compensating for weaker demand in the U.S.

Future Plans

• In July, VinFast postponed the launch of its planned factory in North Carolina to 2028 and reduced its delivery forecast for the year by 20,000 units, now aiming for 80,000 vehicles instead of 100,000.

Upcoming Reports

• The company will announce its third-quarter results on November 26.