VinFast's unaudited Q3 revenue up 49%

VinFast Auto Ltd., an electric vehicle manufacturer based in Vietnam, released its unaudited Q3 financial results for 2024.

The company delivered 21,912 vehicles between July and September, marking a 115% increase compared to the same period in the previous year.

Revenue for the quarter reached US$511.6 million, representing a 49.3% rise from 2023.

VinFast reported improved profitability, narrowing its gross loss to US$122.8 million, a 45.6% reduction from the previous quarter. Its net loss also decreased by 29.4% from Q2 2024.

Expected grants and loans totaling US$3.5 billion by 2026 aim to bolster operations and global expansion.

Recent VinFast developments

Timeline
12-Nov-2024 💰 VinFast gets $3.5b boost by 2026 Vingroup pledges $3.5B for VinFast funding. Plan aims for VinFast’s financial independence by 2026.
04-Nov-2024 🚍 VinFast to supply 3,000 EVs to Mexico to cut emissions VinFast signs MOU for 3,000 EVs in Durango Partnership aims to lower emissions and costs
29-Oct-2024 🚙 VinFast launches in Middle East VinFast launched brand in Middle East on Oct 28 Opened UAE dealership in Dubai, expanding to more countries
12-Jun-2024 🔋 VinFast’s India factory to open ahead of schedule: founder VinFast sold only 9,689 EVs, far below targets. Plans to open $500M India factory ahead of schedule.
08-May-2024 🔋 VinFast to enter Philippine EV race this month

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Recent VinFast developments

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