VinFast reports 11,382 electric vehicle deliveries in Vietnam for June

VinFast Auto Ltd. (VFS) reported robust preliminary domestic electric vehicle deliveries, totaling 11,382 units in June and 67,569 for the first half of 2025 in Vietnam, with the VF 3 being the top-selling model in June. Concurrently, VinFast inaugurated a new manufacturing plant in Vung Ang Economic Zone in June, which will focus on producing compact urban EVs for both domestic and international markets. Investors should note these delivery figures are preliminary and subject to change upon final audit.

Analysis

VinFast Auto Ltd. (VFS) reported strong preliminary domestic delivery figures, with 11,382 electric vehicles delivered in Vietnam during June and a total of 67,569 for the first half of 2025. The company's performance is concentrated in its smaller models, with the VF 3 and VF 5 accounting for a combined 59% of June deliveries and 66% of H1 deliveries. This operational momentum is supported by a strategic expansion of manufacturing capacity, marked by the June inauguration of a new plant in the Vung Ang Economic Zone. This facility is designated to produce compact urban EVs, including the top-selling VF 3, for both domestic consumption and future international export, signaling a clear product and market strategy. However, it is critical to note that the company has explicitly stated these delivery numbers are preliminary and subject to change pending a final year-end audit, which could result in figures that differ from those recognized as vehicle sales revenue.

Key Decisions for Investors

• Investors should view the strong preliminary H1 delivery numbers as a positive indicator of domestic market penetration and operational execution, but must await audited financial results to confirm the revenue impact.
• Monitor future announcements regarding the production ramp-up at the new Ha Tinh plant and any initial data on international sales, as these will be critical catalysts for validating the company's global expansion strategy.
• Given the concentration of sales in the VF 3 and VF 5 models within Vietnam, it is prudent to assess the risks associated with this product and geographic dependence when evaluating the company's growth prospects.