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Financial Data and Key Metrics Changes - In Q4 2024, revenue was $678 million, up 34% quarter over quarter and 70% year over year, while full year revenue reached $1.8 billion, a 58% increase year over year [27] - Cost of goods sold in Q4 2024 was $1.2 billion, a 93% increase quarter over quarter, with full year cost of goods sold at $2.8 billion, up 67% versus 2023 [27] - Q4 2024 gross margin was -79%, compared to -24% in Q3, primarily due to an accounting charge related to the free charging program [28] - Full year gross margin loss improved to -32% in 2024 from -40% in 2023 when adjusted for the free charging program [29] Business Line Data and Key Metrics Changes - Total deliveries for Q4 2024 reached 53,139 electric vehicles, a 143% increase quarter over quarter and 342% year over year [12] - B2C sales grew by 140% quarter over quarter and over 20 times year over year, with 81% of EV deliveries to non-related party customers [12] - The proportion of EV deliveries from non-Vietnam sales grew tenfold year over year, increasing from 3% to 10% of total deliveries [10] Market Data and Key Metrics Changes - As of March 31, 2025, VinFast had 322 showrooms globally, with 89% being dealer stores, marking a 160% growth from 123 showrooms at the end of 2023 [10] - In Southeast Asia, the company is expanding its presence with strategic partnerships, having launched a green mobility ecosystem in Indonesia and the Philippines [13][14] Company Strategy and Development Direction - The company aims to solidify its leadership position in Vietnam while expanding into new markets, focusing on product innovation and cost optimization [86] - VinFast is committed to a three-pillar growth strategy: Product, Capacity, and Market, targeting to double 2024 volumes in 2025 [23][24] - The discontinuation of the battery leasing program is part of a strategic shift as consumer familiarity with EVs increases, complemented by a free charging program [84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 guidance despite macroeconomic challenges, expecting Q1 to be the slowest quarter with a significant uptick in the second half of the year [40] - The company is focused on scaling volume through new product launches and enhancing manufacturing efficiency to drive margin improvement [46] Other Important Information - The company received approximately $800 million in capital support from its founder and Vingroup by December 31, 2024, with total disbursements exceeding $1.5 billion by March 31, 2025 [35] - Cash burn improved significantly in 2024, decreasing by 39% year over year to $1.9 billion, reflecting disciplined cost and capital management [33] Q&A Session Summary Question: What gives confidence in the 2025 guidance? - Management expects Q1 to be slow but anticipates an uptick in Q2 and significant deliveries in the second half, projecting at least double the deliveries of the previous year [40][42] Question: Path to positive gross margins? - Excluding one-off charges, the gross loss margin improved from -40% in 2023 to -32% in 2024, with a focus on scaling volume and optimizing costs [45][46] Question: Accounting treatment for EV charging credit? - A one-time charge of $242 million was recognized in Q4 for the free charging program, with future recognition aligned with vehicle sales during the program [50][51] Question: Capital spending for 2025 and 2026? - Expected cash burn for 2025 is approximately $2.5 billion, with $1.8 billion allocated for CapEx on CKD facilities across Asia [57][58] Question: Share of sales from VF3 and VF5 in 2025? - The share is expected to be less than 50% in 2025, as new models from the green series will contribute significantly [62] Question: Impact of U.S. tariffs on consumer spending? - The company believes the impact of U.S. tariffs will be less severe compared to other OEMs, with most growth expected from non-U.S. markets [82] Question: Rationale for discontinuing battery leasing? - Battery leasing was essential in early EV adoption but has decreased significantly in sales percentage, making it the right time to discontinue [84]

Financial Data and Key Metrics Changes - In Q4 2024, revenue was $678 million, up 34% quarter-over-quarter and 70% year-over-year, while full-year revenue reached $1.8 billion, an increase of 58% year-over-year [39] - Cost of goods sold in Q4 2024 was $1.2 billion, up 93% quarter-over-quarter, with full-year cost of goods sold at $2.8 billion, a 67% increase compared to 2023 [39] - Q4 2024 gross margin was minus 79%, impacted by an accounting charge related to the free charging program, compared to minus 24% in Q3 [40] - Full-year gross margin loss improved to minus 32% from minus 40% in 2023, excluding one-off charges [42] - Q4 2024 EBITDA loss was minus $928 million, with a full-year net loss of minus $3.2 billion [46][47] Business Line Data and Key Metrics Changes - Total deliveries for Q4 2024 reached 53,139 electric vehicles, a 143% increase quarter-over-quarter and 342% year-over-year [15] - B2C sales grew by 140% quarter-over-quarter and over 20x year-over-year [15] - The proportion of EV deliveries to non-related party customers increased to 81% from 78% in Q3 [16] Market Data and Key Metrics Changes - Non-Vietnam sales grew 10x year-over-year, contributing from 3% to 10% of total deliveries [11] - As of March 31, 2025, VinFast had 322 showrooms, a 160% increase from 123 showrooms at the end of 2023 [12] Company Strategy and Development Direction - The company aims to solidify its leadership position in Vietnam while expanding its market presence in Asia and other regions [34] - VinFast is focusing on product innovation, manufacturing capacity, and market reach as part of its three-pillar growth strategy [32][34] - The company plans to open three new CKD plants in Asia in 2025 to enhance production flexibility [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 guidance despite macroeconomic challenges, expecting Q1 to be the slowest quarter [59] - The company is closely monitoring regulatory and geopolitical changes and remains agile in its operations [8][9] - Management highlighted the importance of building a green mobility ecosystem to support EV adoption [17] Other Important Information - The free charging program in Vietnam is expected to cost approximately $242 million, recognized as a revenue reduction [41] - The battery leasing program was discontinued as of March 31, 2025, due to decreased consumer reliance on it [26][110] Q&A Session Summary Question: What gives confidence in the 2025 guidance? - Management expects Q1 to be slow, with an anticipated increase in deliveries in Q2 and a strong second half due to preorders [59][61] Question: Path to positive gross margins? - Excluding one-off charges, gross loss margin improved from minus 40% in 2023 to minus 32% in 2024, with a focus on scaling and efficiency [65] Question: Accounting treatment for EV charging credit? - A one-time charge of $242 million was recognized in Q4 for the free charging program, with future recognition aligned with vehicle sales [71][72] Question: Capital spending for 2025 and 2026? - Expected cash burn in 2025 is around $2.5 billion, with approximately $1.8 billion allocated for CapEx and R&D [81] Question: Share of sales from VF 3 and VF 5 in 2025? - Expected to be less than 50% of total sales, with new models contributing significantly [88] Question: Impact of new U.S. tariffs? - Management believes the impact will be less significant compared to other OEMs, as most growth is expected from non-U.S. markets [107] Question: Rationale for discontinuing battery leasing? - Battery leasing was essential in early EV adoption but has decreased in relevance as consumer familiarity has grown [110] Question: Key priorities for 2025? - Focus on solidifying market leadership in Vietnam, enhancing manufacturing capacity, and driving product innovation [114]

Core Insights - VinFast Auto Ltd. reported significant growth in electric vehicle (EV) deliveries and revenues for the fourth quarter and full year of 2024, indicating strong market reception and business momentum [2][3][4]. Financial Performance - In Q4 2024, VinFast delivered 53,139 EVs, a 143% increase from Q3 2024, and for the full year, total EV deliveries reached 97,399, up approximately 192% from 2023 [2][3]. - Total revenues for Q4 2024 were VND16,496.4 billion (US$677.9 million), a 69.8% increase year-over-year and a 33.8% increase quarter-over-quarter. For the full year, revenues were VND44,019.6 billion (US$1,808.9 million), representing a 57.9% increase from 2023 [4]. - The company reported a gross loss of VND25,277.6 billion (US$1,038.7 million) for 2024, with a negative gross margin of 57.4% and a net loss of VND77,354.9 billion (US$3,178.8 million) [4]. Strategic Initiatives - VinFast's founder, Mr. Pham Nhat Vuong, has committed VND50 trillion (US$2.1 billion) in grants to support the company, with VND10 trillion (US$410.9 million) already disbursed as of March 31, 2025 [6][7]. - The company aims to double its global vehicle deliveries in 2025 while maintaining flexibility in its business strategy to adapt to market dynamics [16]. Market Expansion - VinFast is expanding its presence in key markets, including Indonesia, the Philippines, North America, and Europe, with plans to establish a widespread dealer network and enhance its distribution capabilities [10][11][12][13][14]. - In Vietnam, the company is launching a new "Green" product line designed for transportation services, with deliveries expected to start in Q2 2025 [14][15]. Leadership Statements - VinFast's Chairwoman, Madam Thuy Le, emphasized the company's strong performance in 2024 and its commitment to innovation and quality in EV production [8]. - CFO Ms. Lan Anh Nguyen highlighted the foundation for sustained volume growth in 2025, focusing on R&D and capital expenditure to improve vehicle quality and performance [9].

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $678 million, up 34% quarter over quarter and 70% year over year [27] - Full year revenue reached $1.8 billion, an increase of 58% year over year [27] - Cost of goods sold in Q4 2024 was $1.2 billion, a 93% increase quarter over quarter [27] - Full year cost of goods sold was $2.8 billion, up 67% compared to 2023 [27] - Q4 2024 gross margin was -79%, compared to -24% in Q3 2024 [28] - Full year gross margin loss improved to -57% in 2024 from -49% in 2023 [28] Business Line Data and Key Metrics Changes - Total deliveries for Q4 2024 reached 53,139 electric vehicles, a 143% increase quarter over quarter and 342% year over year [12] - B2C sales grew by 140% quarter over quarter and over 20 times year over year [12] - The proportion of EV deliveries to non-related party customers increased to 81% from 78% in Q3 2024 [12] - The company delivered 31,170 e-scooters in Q4 2024, a 65% increase quarter over quarter [12] Market Data and Key Metrics Changes - Non-Vietnam sales grew tenfold year over year, increasing their contribution from 3% to 10% of total deliveries [10] - As of March 31, 2025, VinFast had 322 showrooms globally, with 89% being dealer stores, marking a 160% growth [10] - In Southeast Asia, the company has established 22 showrooms in Indonesia and 6 in the Philippines as of March 31, 2025 [14] Company Strategy and Development Direction - The company aims to solidify its leadership position in Vietnam while expanding into new markets [85] - Plans to open three new CKD plants in Asia in 2025 to enhance production flexibility [26] - The focus is on building a vertically integrated green mobility ecosystem, combining electric vehicles, shared mobility services, and charging infrastructure [13] Management's Comments on Operating Environment and Future Outlook - Management remains confident in achieving 2025 guidance despite macroeconomic challenges, expecting Q1 to be the slowest quarter [40] - The company is focused on scaling volume through new product launches and deepening market presence in Asia [46] - Management highlighted the importance of optimizing manufacturing efficiency and strategic capital deployment to drive margin improvement [46] Other Important Information - The company has discontinued its battery leasing program, which was previously a key differentiator, due to increased consumer familiarity with EVs [83] - A free charging program has been introduced to ease the transition for customers, extending benefits until 2027 [84] - The liquidity position stood at approximately $3 billion as of March 31, 2025, including $968 million in an ELOC facility [34] Q&A Session Summary Question: What gives confidence in the 2025 guidance given macro conditions? - Management expects Q1 to be slow but anticipates an uptick in Q2 with new model deliveries, projecting that the first half will contribute approximately 25-30% of total deliveries [38][40] Question: Path to positive gross margins with lower ASPs? - Excluding one-off charges, the gross loss margin improved to -32% in 2024, and the focus will be on scaling volume and optimizing costs to drive margin improvement [45][46] Question: Clarification on accounting treatment for EV charging credits? - A one-time charge of $242 million was recognized in Q4 2024 for the free charging program, which will be realized over the life of the program [50][51] Question: Capital spending for 2025 and 2026? - Expected cash burn for 2025 is approximately $2.5 billion, with $1.8 billion allocated for CapEx on CKD facilities [58] Question: Status of the US manufacturing plant in North Carolina? - The company remains committed to the North Carolina facility, with plans to monitor macroeconomic conditions and adjust as necessary [73] Question: Progress in Indonesia and the Philippines? - Deliveries in Indonesia have begun, with plans to expand the dealership network, while the Philippines has introduced five models and aims for 50 showrooms by year-end [76][77]

Exhibit 99.1 VinFast Reports Unaudited Fourth Quarter and Full Year 2024 Financial Results Quarterly Revenues reached VND16,496.4 billion (US$677.9 million) Quarterly EV Deliveries were 53,139 units Full year Revenues reached VND44,019.0 billion (US$ 1,808.9 million) Full Year EV Deliveries were 97,399 units Singapore, April 24, 2025 – VinFast Auto Ltd. ("VinFast" or the "Company") (Nasdaq: VFS), a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone, today an ...

VinFast Auto Ltd. (VFS) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VFS's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being th ...

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, ...

VinFast Auto (NASDAQ: VFS ) reported better-than-expected third fiscal quarter earnings yesterday, with the company benefiting from an EV delivery upsurge, higher revenue and an ambitious plan to expand globally. Further, the EV maker is narrowing its losses and is seeing strongI look for high-risk, high-reward situations, mainly in the technology markets. I am an early buyer of Bitcoin and my portfolio mainly focused on companies with asymmetric long-term upside. My top holdings include: Bitcoin, Tesla, Go ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: A Vinfast electric car travels down a street in Hanoi. Vietnamese electric vehicle manufacturer VinFast reported a net loss of $550 million for the third quarter, less than the same period last year as the firm recorded an uptick in sales. The communist state's first homegrown car manufacturer is aiming to compete with global ...