VinFast expects 170,000 vehicle deliveries in 2025

VinFast, a Vietnamese EV maker, said it expects to have delivered about 170,000 vehicles in Vietnam in 2025, with this preliminary figure nearly double its local deliveries from 2024.

The company has struggled to expand internationally, with limited traction in North America and other markets amid strong competition and slow consumer adoption.

VinFast’s US-listed shares fell around 17% last year, following a drop of over 50% in 2024, as the company continues to report losses and faces uncertain prospects abroad.

Most of VinFast’s sales remain in Vietnam, where it benefits from local brand recognition and support from parent firm Vingroup.

The company did not disclose its 2025 international delivery figures.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

Unverified retail demand clouds delivery outlook

VinFast pegs 2025 Vietnam deliveries at about 170,000, yet a tied buyer looms large. Green and Smart Mobility (GSM) founded by CEO Pham Nhat Vuong took around 72% of sales in 2023, with 38% through September 2024 1.
The company has not shared absolute volumes to the affiliate, so no one knows if that count rose with overall growth even as its share fell.
Xanh SM, run by GSM, held 37.41% of Vietnam’s technology taxi market (app-based taxi services) in Q4 2024 2, which leans on steady vehicle intake and creates a feedback loop for VinFast’s reported momentum.
Without clear splits between retail (individual consumers) and fleet or related-party (affiliated entities), plus incentive details, investors cannot tell if a near doubling signals real demand or internal transfers.

Charging gap opens room for service providers

If deliveries hit about 170,000 in 2025, Vietnam will need far more public and depot charging, yet VinFast or Vingroup are unlikely to build it all at that speed.
Independent operators can roll out direct current (DC) fast chargers in cities and on highways, serving private EV owners along with the Xanh SM fleet that holds 37.41% share 2.
Software firms can sell payment rails, fleet-management tools, and predictive maintenance platforms that work across brands as Vietnam’s EV base broadens.
Vietnam is still working toward consistent national charging standards and infrastructure planning 3. Move early before ecosystems harden. Wait for 2025 delivery data and policy backing before scaling.