Vietnamese electric vehicle maker VinFast announced on Tuesday that it delivered 21,912 EVs in the third quarter of 2024, marking a 66% increase from the previous quarter.
The surge in deliveries was largely driven by strong domestic sales, with over 9,300 EVs delivered in Vietnam during September, the company’s highest monthly delivery record in the country.
Despite the strong growth, VinFast has faced financial challenges amid its overseas expansion efforts. Last month, the company reported a larger second-quarter loss, attributing it to rising costs linked to international expansion and impairment charges. However, its revenue rose during the period.
VinFast has been expanding into Asian markets, such as Indonesia, to tap into growing regional demand for electric vehicles, aiming to counterbalance weaker demand in the United States.
In July, the company announced a delay in the opening of its planned factory in North Carolina to 2028 and reduced its delivery forecast for 2024 by 20,000 units, now aiming for 80,000 vehicles instead of the previously planned 100,000.
