Results for: VinFast

VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, announced robust second-quarter 2024 results, showcasing a 44% quarter-over-quarter increase in EV deliveries and a 33% surge in revenue. The company’s home market, Vietnam, played a pivotal role in this growth, fueled by strong demand for the VF 5 model and the launch of the highly anticipated VF 3 mini electric SUV. VinFast’s global expansion strategy also showed progress, with expanding dealership networks and increased market presence in key regions like North America and Southeast Asia.

VinFast Auto shares climbed on Thursday following the Federal Reserve’s surprise interest rate cut. The company is set to report its second-quarter results on Friday and will hold a conference call to discuss the earnings. While the recent investigation by the National Highway Traffic Safety Administration regarding issues with the ‘Lane Keep Assist’ system adds some uncertainty, analyst forecasts remain optimistic for VinFast’s future performance.