VinFast’s quarterly revenue jumps on strong deliveries, taps debt to fuel expansion
The company signed two loan facilities during the quarter, totaling US$250 million
[HANOI] Vietnam’s VinFast reported a sharp rise in third-quarter revenue on Friday (Nov 21), bolstered by strong sales of its electric cars and bikes, with the company riding on the growth to fuel expansion.
The company signed two loan facilities during the period, totaling US$250 million, as it looks to ratchet up its ambitious growth strategy and expand internationally even amid tariff pressures and subdued demand in the US.
Still, taking on additional debt could hammer the loss-making company’s margins at a time when it works aggressively to cut costs by shifting to a dealership-based model and optimising its supply chain.
VinFast’s third-quarter revenue rose around 47 per cent to US$718.6 million from a year ago.
E-scooter and e-bike deliveries soared 535 per cent in the quarter after Hanoi announced plans to ban petrol-powered motorbikes in the city centre starting in mid-2026. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
