VinFast said it expects to deliver about 170,000 vehicles in Vietnam in 2025, nearly doubling its domestic deliveries from the previous year, underscoring its continued reliance on its home market as international expansion remains challenging.
The Vietnamese electric vehicle maker has struggled to gain traction overseas, particularly in North America, where competition is intense and consumer adoption of newer EV brands has been slower than anticipated. VinFast did not disclose expected international delivery figures for 2025.
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VinFast’s U.S.-listed shares fell about 17% last year after dropping more than 50% in 2024, reflecting persistent losses and investor concerns over the company’s prospects outside Vietnam. Most of its sales continue to come from the domestic market, where it benefits from strong brand recognition and backing from its parent group, Vingroup.
In December, VinFast said it had produced its 200,000th electric vehicle at its Hai Phong manufacturing complex, marking a milestone in its domestic production ramp-up. The company has also continued to invest selectively in manufacturing capacity abroad, inaugurating an electric vehicle plant in Subang, West Java, its first production facility in Southeast Asia outside Vietnam.
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By contrast, VinFast has scaled back its ambitions in North America after initially outlining one of the most aggressive expansion plans by a new automaker. According to Automotive News, the company now operates fewer than two dozen dealerships in the United States, with several locations closing or exiting the franchise over the past year. Inventory levels at remaining dealers remain limited, reflecting subdued sales.
Source: Reuters
