About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

海外电动两轮车情况交流 20260323 摘要 越南市场受燃油短缺与政策驱动爆发，预计 2026 年销量翻倍至 120- 130 万台，VinFast 与雅迪目标销量分别达 80 万与 20 万台。 印尼市场因 2025 年补贴取消导致销量从百万级骤降至 6 万台，2026 年预期回升至 10 万台，燃油供应充足削弱了电摩替代动力。 泰国市场 2026 年预期销量 20-30 万台，但高温高湿环境及高速行驶需 求导致中国品牌频发过热烧毁，产品适配性仍存技术瓶颈。 东南亚市场核心痛点为"电贵油便宜"及产品不耐用，当地偏好 14 寸 大轮径车型，中国主流 10-12 寸车型底盘低、易损电池。 竞争格局呈现分化：VinFast 凭借本土供应链与售后占优；雅迪通过越 南直营模式与针对性改型领先；台铃等品牌因产品汉化、渠道弱势进展 缓慢。 售后服务缺失是中资品牌出海最大障碍，维修周期长导致口碑受损，消 费者更倾向本田、雅马哈等具备完善网点的传统摩托巨头。 Q&A 在当前油价上涨的背景下，东南亚主要市场（如越南、印尼、泰国、菲律宾） 的燃油供应及油价情况如何？ 目前，越南的燃油供应情况最为严峻。许多加油站虽然有油，但实行 ...

VinFast's latest earnings call showed not just record deliveries, but a clearer focus on lowering production costs and scaling manufacturing more deliberately, moves that could help reinforce its long-term presence in markets like Canada. VinFast Earnings Call Highlights Disciplined Outlook, Supporting Staying Power in Canada VinFast Earnings Call Highlights Disciplined Outlook, Supporting Staying Power in Canada Share MARKHAM, Ontario--(BUSINESS WIRE)--For every surviving automaker to date, there is usuall ...

Getting into global trends early, one way or another, is an ideal way to find lucrative long-term investment wins -- but it's certainly easier said than done. Electric vehicle (EV) makers have massive upside, but come with equally massive risk. EV automakers that focus just on EVs are young companies, often burning through cash and trying to build brands and scale while markets throw curveballs like removing EV tax credits and implementing automotive tariffs.Rivian Automotive (RIVN 7.51%) and Lucid Motors ( ...

VinFast Auto Ltd. (NASDAQ:VFS) is one of the 10 Best Auto Manufacturer Stocks to Buy According to Analysts. On March 16, 2026, Bloomberg reported that Vietnamese electric vehicle maker VinFast Auto Ltd. (NASDAQ:VFS) said it will resume construction at its North Carolina factory this year. However, the company recorded a larger loss in the fourth quarter due to rising costs associated with its global expansion. The corporation recorded a fourth-quarter financial loss of 35.2 trillion dong ($1.3 billion), up ...

Mar 18, 2026 12:57 PM Eastern Daylight Time The VinFast VF 8 and Its Many Thoughtful Modes Share The VinFast VF 8 and Its Many Thoughtful Modes Designed around real moments, the VinFast VF 8 blends smart modes, intuitive tech, and long-term support to make electric driving feel practical, comfortable, and surprisingly personal. MARKHAM, Ontario--(BUSINESS WIRE)--When asked what her favorite thing about the VinFast VF 8 Plus is, Sarah, a Quebec resident, answers without hesitation: Pet Mode. With this featur ...

分组1 - VinFast Auto Ltd. reported a quarterly loss of $0.6 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.33, and compared to a loss of $0.54 per share a year ago, indicating an earnings surprise of -81.82% [1] - The company posted revenues of $1.57 billion for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 53.50%, and showing significant growth from year-ago revenues of $677.89 million [2] - VinFast Auto Ltd. shares have declined approximately 7.2% since the beginning of the year, while the S&P 500 has decreased by 3.1% [3] 分组2 - The earnings outlook for VinFast Auto Ltd. is uncertain, with current consensus EPS estimates of -$0.24 on revenues of $837.06 million for the upcoming quarter, and -$0.98 on revenues of $4.74 billion for the current fiscal year [7] - The Zacks Industry Rank for Automotive - Domestic is in the top 38% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for VinFast Auto Ltd. was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6]

Core Insights - VinFast reported a significant increase in electric vehicle (EV) deliveries, with 86,557 units delivered in Q4 2025, marking a 127% increase quarter-over-quarter and a 63% increase year-over-year [2][3] - The company delivered a total of 196,919 EVs globally in 2025, representing a 102% increase year-over-year, exceeding its delivery guidance [4] - Revenue for Q4 2025 reached VND 39,411.7 billion (approximately US$1,568.9 million), a 138.9% increase from Q4 2024 [5] - The gross margin improved significantly, moving from negative 79.1% in Q4 2024 to negative 39.9% in Q4 2025 [6] Delivery Performance - In Q4 2025, commercial models and the EC Van model accounted for about 49% of total EV deliveries [3] - International markets contributed approximately 18% of total vehicle deliveries for the first time in a quarter [3] - E-scooter and e-bike deliveries reached 171,962 in Q4 2025, a 43% increase quarter-over-quarter and a 452% increase year-over-year [5] Financial Performance - Total revenues for 2025 were VND 90,427.6 billion (approximately US$3,599.7 million), reflecting a 105.4% increase from 2024 [6] - The gross margin for the full year 2025 was negative 42.5%, an improvement from negative 57.4% in 2024 [7] Strategic Initiatives - VinFast is focused on disciplined investment in technology and global expansion to enhance electric mobility accessibility [8] - The company plans to optimize unit costs and scale production to achieve profitability [8] - VinFast has launched its EV portfolio under three distinct brands, targeting different market segments [9] Market Position - VinFast ended 2025 with an estimated 36% market share in Vietnam, up from approximately 22% in 2024, and maintained its position as the leading e-scooter brand [10] - The company made significant progress in international markets, ranking No.4 in India and No.3 in Indonesia for battery electric vehicles (BEVs) [12][13] Manufacturing and Technology - The Hai Phong plant celebrated the production of its 200,000th EV in 2025, with nearly 26,000 EVs produced in December alone [13] - VinFast inaugurated its first overseas factory in Tamil Nadu, India, and a second in Subang, Indonesia, expanding its global manufacturing footprint [16] Future Developments - The next generation of the VF 6 and VF 7 is expected to start production in the second half of 2026 [10] - VinFast is collaborating with AI companies to develop advanced driver assistance systems (ADAS) and autonomous vehicles [19][20]

VinFast said Vietnam remained its largest market and that it maintained the number-one OEM position there. The company ended 2025 with an estimated 36% market share versus 22% in 2024, and said models VF3 and VF5 represented 51% of domestic volume. For the first time since it began selling internationally, the company said overseas markets accounted for 18% of Q4 deliveries and 11% of full-year 2025 deliveries.For 2026, VinFast guided to at least 300,000 EV deliveries . Thuy said the target is supported by ...

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $1.6 billion, up by 118% quarter-over-quarter and 139% year-over-year, while full-year revenue reached $3.6 billion, an increase of 105% year-over-year [24][25] - Gross margin improved to -40% in Q4 2025 from -79% in Q4 2024, and for the full year, it improved to -43% compared to -57% in 2024 [24][25] - Net loss for Q4 was -$1.4 billion, with a net loss margin improving to -89% compared to -186% a year ago [30] Business Line Data and Key Metrics Changes - VinFast delivered 196,919 EVs for the full year, exceeding guidance to at least double the number of EVs delivered in 2024, with Q4 alone accounting for 86,557 EVs [6][7] - The two-wheeler segment saw full-year deliveries grow 5.7 times to 406,496 units, with expectations for 2026 to be at least 2.5 times last year's volume [7][8] Market Data and Key Metrics Changes - In Vietnam, VinFast maintained a 36% market share, up from 22% in 2024, and ended the year as the number one electric scooter player [8][9] - International markets accounted for 18% of Q4 deliveries, with full-year contributions at 11% [8][9] Company Strategy and Development Direction - VinFast aims to expand capacity for international markets and is focused on scale and unit cost optimization as primary levels in the path to profitability [4][5] - The company is investing in technology and industrial capabilities, with a focus on AI-driven software-defined vehicles [4][5] Management's Comments on Operating Environment and Future Outlook - Management noted that higher oil prices could influence EV adoption dynamics, reinforcing the long-term value proposition of EVs [44][46] - The company remains committed to the U.S. market despite current EV demand challenges, with plans to resume construction of the North Carolina factory [47][48] Other Important Information - CapEx for Q4 was $304 million, with total CapEx for 2025 at $922 million, driven by overseas factories and expansion in Vietnam [32] - The company has a total liquidity of $3.1 billion as of December 31, 2025, reflecting cash and funding commitments [33] Q&A Session Summary Question: Will VinFast pursue hybrid vehicles? - Management confirmed the VF 8 REEV is planned for launch in Vietnam starting 2027, viewing it as an interim solution to expand EV accessibility [40] Question: What are the drivers behind the narrowing of the gross profit loss? - The improvement is driven by BOM optimization, production scale, and supplier pricing, with expectations for sustainable improvements [41] Question: How will higher oil prices influence EV adoption? - Higher oil prices are expected to reinforce the long-term value of EVs, with management focusing on cost competitiveness and product availability [44] Question: What is the status of the North Carolina factory? - The company remains committed to the U.S. market, with plans to resume construction in 2026 and a targeted SOP in 2028 [47] Question: What are the CapEx plans for 2026? - CapEx for 2026 is expected to be around $1 billion, focusing on building out manufacturing capacity [50] Question: What is the expected cash usage for this year? - Expected cash spending for CapEx is around $1.6 billion, with R&D spending around $1.4 billion [63] Question: Can VinFast achieve a positive gross margin? - Management indicated that achieving a positive gross margin is increasingly visible over the medium term, with improvements expected from scaling production and BOM cost reductions [61]