VinFast Reports 42% Revenue Growth in Q1 2026 Amid Broad Global EV Expansion
On June 8, 2026, VinFast Auto Ltd. announced its unaudited financial results for the first quarter of 2026 from Singapore. The automotive manufacturer reported a 41.7% year-over-year revenue increase, reaching VND23,111.1 billion, or US$920.7 million. This financial growth was primarily driven by strong electric vehicle (EV) sales volumes within Vietnam and increasing contributions from international markets including India, Indonesia, and the Philippines.
First Quarter 2026 Delivery and Revenue Highlights
During the first quarter of 2026, VinFast delivered 58,577 electric vehicles, reflecting a 61% increase compared to the same period in 2025. International markets accounted for approximately 8% of the company’s total EV deliveries during the quarter.
Hyundai Venue
Within its domestic market of Vietnam, VinFast experienced a 53% year-over-year increase in EV deliveries. This performance allowed the company to maintain its status as the number one original equipment manufacturer (OEM) in the domestic automotive market, a position it has held since September 2024.
Expanding Market Position in Southeast Asia and India
VinFast has designated Southeast Asia and India as key growth markets. By the end of Q1 2026, the manufacturer had secured the number one ranking as a battery electric vehicle (BEV) brand in the Philippines, the number four position in India, and the number eight position in Indonesia.
The company also reported significant growth in the two-wheeler segment, delivering 143,136 e-scooters and e-bikes in the first quarter, a 219% increase from the first quarter of 2025. In March alone, VinFast shipped over 93,000 e-scooters to domestic dealers and secured more than 135,000 orders, expanding its overall domestic motorcycle market share to 17%.
Strategic Operational and Technology Developments
VinFast has continued to execute its global expansion strategy by growing its retail and after-sales network. By the end of the first quarter, the company operated 447 global showrooms. Furthermore, VinFast recently signed Memoranda of Understanding with 29 after-sales partners to build EV service workshops that align with its global standards. The company aims to expand this network to over 1,100 service workshops across North America, Europe, the Middle East, and Asia by the end of 2026.
In the sector of autonomous vehicle technology, VinFast announced a strategic collaboration with NVIDIA and Autobrains on June 1 at the COMPUTEX 2026 exhibition in Taipei. The partnership is focused on developing a next-generation Level 4 autonomous program for Southeast Asia built on NVIDIA DRIVE Hyperion architecture. This collaboration aims to make advanced autonomous driving technology more accessible and expand its application in markets with complex traffic environments.
Management Perspectives on Financial Strategy
Company leadership has indicated a strategic pivot toward operational sustainability and capital efficiency. Mr. Pham Nhat Quan Anh, Chairman of VinFast, stated, “VinFast has entered a new phase focused on disciplined execution, long-term sustainability, and scalable growth”. He noted that the company is advancing its transition toward a more asset-light and resilient business model in Vietnam while continuing global expansion.
Chief Financial Officer Ms. Lan Anh Nguyen outlined the operational priorities moving forward, stating, “Our priorities remain centered on disciplined financial management, operational excellence, and the efficient deployment of capital”. She added that ongoing efforts to optimize the cost base and improve productivity are intended to support sustainable growth and maintain necessary strategic flexibility.
Frequently Asked Questions
What was VinFast’s total revenue for the first quarter of 2026? VinFast recorded total revenues of VND23,111.1 billion, or US$920.7 million, in the first quarter of 2026, representing a 41.7% increase from the same period last year.
How many electric vehicles did VinFast deliver in Q1 2026? The company delivered 58,577 electric vehicles in the first quarter of 2026, marking a 61% increase compared to the first quarter of 2025.
Who are VinFast’s partners for its new autonomous driving program? VinFast announced a strategic collaboration with NVIDIA and Autobrains to develop a next-generation Level 4 autonomous driving program built on NVIDIA DRIVE Hyperion.
You can add more to this story by commenting below.
Hyundai Venue
