Robust domestic demand pushes VinFast's EV numbers in Q3

HANOI, Vietnam: Vietnamese electric vehicle maker VinFast said this week it delivered 21,912 electric vehicles in the third quarter, up 66 percent from the previous quarter.

The company delivered more than 9,300 EVs in Vietnam during September, marking the highest monthly deliveries in the country.

Last month, VinFast reported a larger second-quarter loss, driven by rising costs associated with its overseas expansion and impairment charges, despite an increase in revenue.

The company has been aggressively expanding into Asian markets like Indonesia to tap into the growing demand for electric vehicles in the region, aiming to offset weaker demand in the U.S.

In July, VinFast postponed the opening of its planned North Carolina factory to 2028 and lowered its delivery forecast for this year by 20,000 units, reducing the target from 100,000 to 80,000 vehicles.

The company is set to release its third-quarter results on November 26.