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].

Company Overview - LOBO is a fast-growing electric mobility manufacturer based in Tianjin, China, focused on high-performance, sustainable vehicles and smart infrastructure solutions [6] - Green Gold Asia (GGA) is a leader in sustainable mobility solutions, founded in 2024 and headquartered in West Jakarta, Indonesia, dedicated to transforming transportation in Southeast Asia [7] Strategic Partnership - LOBO has announced a strategic cooperation with Green Gold Asia to launch a new line of electric bikes and tricycles in Indonesia, marking a significant step in LOBO's global expansion efforts [1][5] - The partnership aims to combine LOBO's innovative product development with GGA's local market expertise to deliver tailored electric vehicles and a reliable charging network [3][4] Market Potential - Indonesia is identified as a promising market for electric mobility, with a population exceeding 270 million and a projected EV market value surpassing $5 billion by 2030, driven by urbanization and a growing middle class [2] - The demand for two- and three-wheel electric vehicles is expected to lead the adoption of electric mobility in the region [2] Financial Expectations - The strategic agreement between LOBO and GGA is expected to generate over $5 million in value in its first year, with a phased rollout planned across key metropolitan areas [3] Environmental Impact - The initiative aims to reduce carbon emissions, alleviate urban congestion, and provide modern transportation options, contributing to sustainable development in Indonesia [4]

Company Overview - LOBO is a fast-growing electric mobility manufacturer based in Tianjin, China, focused on high-performance, sustainable vehicles and smart infrastructure solutions [6] - Green Gold Asia (GGA) is a leader in sustainable mobility solutions, headquartered in West Jakarta, Indonesia, dedicated to transforming transportation in Southeast Asia [7] Strategic Partnership - LOBO intends to initiate a strategic cooperation with Green Gold Asia to launch a new line of innovative electric bikes and tricycles in Indonesia [1] - The partnership aims to combine LOBO's product innovation with GGA's local market insights to accelerate the adoption of electric mobility [4] Market Potential - Indonesia's electric vehicle market is projected to exceed $5 billion USD by 2030, driven by urbanization and a growing middle class [2] - The demand for two- and three-wheel electric vehicles is expected to lead the market adoption in Indonesia [2] Financial Expectations - The strategic agreement between LOBO and GGA is expected to exceed $5 million USD in value in its first year, with a phased rollout across key metropolitan regions [3] Environmental Impact - The initiative aims to reduce carbon emissions, ease urban congestion, and provide practical transportation options for individuals and families in Indonesia [4] Future Expansion Plans - This partnership is part of LOBO's broader international strategy, with plans for further expansions across Southeast Asia, Latin America, and Africa in the coming year [5]