Business

VinFast Doubles Deliveries in Vietnam, Struggles Globally
By Reuters | 06 Jan, 2026

The Vietnamese EV maker continues to rely mostly on its home market for growth as it struggles to gain traction in North America and Europe on competition from better-known brands.

Vietnamese electric-vehicle maker VinFast said on Tuesday it expects to have delivered about 170,000 units in the country last year.

The preliminary figure represents a near doubling in deliveries in Vietnam compared to 2024, highlighting strong growth in VinFast's core market even as the company continues to face challenges expanding overseas.

The company has had little success in establishing a foothold in North America and other international markets, where competition is intense and consumer adoption has been slow.

U.S.-listed shares of VinFast dropped about 17% last year after slumping by more than half in 2024 due to ongoing losses and uncertain prospects outside Vietnam.

In February last year, the company said it expected to at least double EV deliveries globally in 2025.

But the vast majority of its deliveries continue to come from Vietnam, where the company benefits from strong brand recognition, a growing domestic EV market and support from parent conglomerate Vingroup.

VinFast did not reveal the deliveries it made in international markets in 2025.

The reliance on its core market to drive growth highlights the hurdles facing newer EV manufacturers, including price pressure, infrastructure constraints and subdued demand in some global markets.

(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)