Photo credit: VinFast
VinFast, a Vietnam-based electric vehicle (EV) maker, is targeting a roughly 5x surge in overseas sales this year.
This comes as the company is positioning its taxi and ride-hailing arm, Green SM, as an “important instrument” in its push beyond the domestic market.
Pham Nhat Vuong, Vingroup’s chairman and founder, said at the group’s annual shareholder meeting in Hanoi on April 22 that its unit VinFast aims to sell about 300,000 vehicles globally in 2026, including roughly 200,000 units in Vietnam.
That implies sales of about 100,000 units in international markets, marking a sharp acceleration in overseas deliveries from 21,820 units in 2025.
It appears the success of this expansion plan will play a key role in VinFast’s path toward profitability.
The company expects its earnings before EBITDA to break even by 2027, with its Vietnam business turning profitable as early as this year, Vuong said.
VinFast’s growth today remains heavily dependent on its home market, which accounted for about 89% of total deliveries last year.
The company shipped roughly 197,000 EVs globally in 2025, more than double the 97,400 units from a year earlier.
VinFast reported revenue of US$3.6 billion in 2025, up 105% from a year earlier, but posted a net loss of US$3.9 billion, bringing cumulative losses to US$14.5 billion. This underscores the capital-intensive nature of its EV production and global expansion efforts.
The company’s overseas expansion over the past year has focused on India, Indonesia, and the Philippines.
It also receives support from the new manufacturing facilities launched in 2025 in the Indian state of Tamil Nadu and Malaysia’s Subang, alongside its new domestic plant in the city of Ha Tinh in Vietnam.
Green SM as company’s leverage
Founded in 2023 by Vuong, Green SM is operated by Green and Smart Mobility (GSM) and uses an all-electric fleet of VinFast vehicles.
It has long been positioned as a strategic driver of VinFast’s EV sales across markets, supporting built-in demand and boosting brand visibility.
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