VinFast苏邦工厂自奠基至投营仅用17个月，彰显了VinFast推进本地化生产的坚定承诺。根据规 划，2026年该厂本地化率将提升至40%以上，2029年提高至60%，2030年起达到80%，同时在苏邦综合 体周边逐步形成配套产业生态体系。 在落成典礼上，印尼经济统筹部长艾尔兰加·哈塔托（Airlangga Hartarto）对VinFast项目给予高度评 价，认为该厂符合印尼发展绿色工业的战略方向，为当地经济注入重要动力，特别是在创造就业岗位、 提升人力资源质量及构建电动汽车产业生态方面发挥积极作用。他表示，相信VinFast将助力苏邦发展 成为区域新的电动汽车制造中心。VinFast亚洲首席执行官范生珠表示，苏邦工厂是VinFast对印尼长期 发展承诺中的重要里程碑，本地化生产是企业实现可持续发展的关键基础，直接助力印尼经济增长、创 造就业。 据悉，VinFast苏邦工厂占地171公顷，总投资额预计超过10亿美元。第一阶段投资3亿多美元，设 计年产能为5万辆，未来可扩展至35万辆，以满足印尼国内及出口需求。满负荷运营时，该工厂预计将 创造5000至1.5万个直接就业岗位。初期，该厂将组装VF 3、VF ...

Core Viewpoint - VinFast is expanding its global presence with the opening of its first factory in Indonesia, signaling its ambitions in the electric vehicle market [1][7]. Company Expansion - VinFast inaugurated a new facility in Subang, Indonesia, with participation from both Indonesian and Vietnamese government representatives [2]. - The factory was completed and became operational just 17 months after the groundbreaking ceremony, showcasing the company's commitment to rapid expansion [4]. - Initially, the factory will assemble the VF 3, VF 5, VF 6, and VF 7 models for the domestic market, with plans to produce new models for sale in Indonesia by 2026 [4]. Market Impact - Following the announcement of the factory opening, VinFast's U.S.-listed shares rose by over 5% on a generally negative day for the stock market, reflecting positive investor sentiment [1]. - The current market capitalization of VinFast is approximately $7.7 billion, with shares trading at $3.47 [5]. Industry Positioning - The new factory reinforces VinFast's role in the electric vehicle value chain in Indonesia, enhancing Southeast Asia's position in the global EV industry [7]. - Indonesia, with a population exceeding 283 million, represents a significant market opportunity for VinFast as it aims to establish a direct presence in the region [7].

Core Insights - VinFast Auto Ltd. reported a robust revenue growth of 92% year-over-year for Q2 2025, indicating strong momentum in its business operations [1][3] - The company delivered 35,837 electric vehicles (EVs) in Q2 2025, a 172% increase year-over-year, and a total of 72,167 EVs in the first half of 2025, reflecting a 223% increase year-over-year [2][3] - VinFast's e-scooter and e-bike deliveries reached 69,580 in Q2 2025, marking a 55% increase quarter-over-quarter and a 432% increase year-over-year [2][3] Financial Performance - Total revenues for Q2 2025 were VND 16,609.3 billion (approximately US$663.0 million), up 91.6% from Q2 2024 and 1.9% higher than Q1 2025 [3] - The company reported a gross loss of VND 6,824.9 billion (US$272.4 million) and a net loss of VND 20,341.6 billion (US$812.0 million) for Q2 2025, with a gross margin improvement to negative 41.1% from negative 62.7% in Q2 2024 [4] Market Position and Strategy - VinFast solidified its leadership in Vietnam's domestic auto market and is actively contributing to the country's green transition [5][8] - The VF 3 and VF 5 models accounted for 61% of total deliveries in Q2 2025, with the VF 6 contributing 12%, placing these models among the top five best-selling vehicles in Vietnam [6][7] - Over 70% of vehicles delivered in the last four quarters were to B2C customers, indicating strong market demand [7] Expansion and Partnerships - The company is expanding its e-bike production capacity and inaugurated the Ha Tinh plant in June 2025, with an initial capacity of 200,000 vehicles per year [8][9] - VinFast is enhancing its presence in key Asian markets, including India, Indonesia, and the Philippines, with strategic partnerships and dealership expansions [11][12][13][14] - In North America, VinFast signed its first authorized dealership in California, marking a shift to a dealer-led distribution model [14] Future Outlook - The company aims to double its global deliveries in 2025 and is focusing on key markets such as Vietnam, Indonesia, the Philippines, India, North America, Europe, and the Middle East [16] - VinFast is evaluating opportunities in various vehicle types to enhance accessibility to electric mobility [17] - The company expects continued strong growth in its e-scooter business, supported by favorable government policies in Vietnam [18]

Financial Performance - Total revenue reached $663 million in Q2 2025, a 92% year-over-year increase compared to $346 million in Q2 2024[31] - Gross margin improved to -41% in Q2 2025, up from -63% in Q2 2024[31] - Cash and cash equivalents totaled $550 million as of June 30, 2025, a 478% increase year-over-year from $95 million[31] - Net loss was $(812) million in Q2 2025, an 8% increase compared to $(749) million in Q2 2024[31] Deliveries and Market Position - Delivered 35,837 EVs in Q2 2025, a 172% year-over-year increase[2] - Delivered 69,580 two-wheelers in Q2 2025, a 432% year-over-year increase[2] - VinFast models accounted for three of the top five best-selling car models in Vietnam during 1H 2025[2] - VinFast VF 3 ranked as the best-selling car model in Vietnam in 1H 2025[15] Production and Expansion - Inaugurated two new factories, VinFast Ha Tinh and VinFast India, doubling production capacity to 550,000 cars per year[2] - Expects $1.6 billion in cash proceeds from completed R&D assets spinoff[2] - The company's total liquidity position is at $4.2 billion[2]

Core Insights - VinFast has inaugurated its electric vehicle assembly plant in Tamil Nadu, India, marking its fifth global project and third operational production base, showcasing the company's ambition for global expansion and capability in executing large-scale projects [1] - The Tamil Nadu factory is a strategic milestone for VinFast, reflecting its long-term commitment to the Indian market and laying a solid foundation for sustainable growth [1] - The factory aims to provide high-quality, competitively priced electric vehicles to Indian consumers and plans to expand its capacity to meet growing market demand, with aspirations to become the largest export center for VinFast in South Asia, the Middle East, and Africa [1] Company and Industry Summary - The factory spans 160 hectares and features highly automated, modern production lines adhering to international standards [2] - Once fully operational, the plant is expected to create 3,000 to 3,500 direct jobs and generate thousands of indirect employment opportunities within the supply chain ecosystem, contributing to the socio-economic development of Tamil Nadu and positioning the region as a significant manufacturing hub in India [2] - Initially, the factory will assemble high-end electric vehicle models VF 7 and VF 6, with an annual production capacity of 50,000 units, which can be increased to 150,000 units in the future [2]

Group 1: Company Announcements - Huawei announced the comprehensive open-source of CANN, enabling users to develop and customize applications independently [1] - Pfizer reported Q2 revenue of $14.65 billion, exceeding market expectations, and projected annual revenue between $61 billion and $64 billion [2] - Xiaomi's investment fund has acquired shares in Chongqing Huahui Paint Co., increasing its registered capital from approximately 27.78 million RMB to about 31.67 million RMB [5] Group 2: Industry Developments - VinFast's new electric vehicle assembly plant in India has officially opened, with an initial production capacity of 50,000 units per year, potentially increasing to 150,000 units [5] - All Nippon Airways (ANA) plans to establish a joint venture with Joby Aviation to provide air taxi services in Japan, aiming to deploy over 100 air taxis [3] - Tencent has invested in Sairi Technology, a waferless chip design company, indicating a trend towards semiconductor innovation [4] Group 3: Market Trends - The futures market in China has reached a record high of 2.6 million effective clients, with a 12% year-on-year growth [10] - The Japanese central bank's committee members expressed concerns that a rapid reduction in bond purchases could impact market stability [9][10]

Core Insights - VinFast has launched pre-orders for its luxury electric SUVs, VF 7 and VF 6, indicating a strategic move to expand its product lineup in the electric vehicle market [1] Group 1 - The VF 7 and VF 6 are positioned as luxury electric SUVs, targeting a premium segment of the automotive market [1] - The pre-order initiative reflects VinFast's commitment to increasing its market presence and competitiveness in the electric vehicle sector [1] - This launch is part of VinFast's broader strategy to establish itself as a key player in the global electric vehicle industry [1]

Core Insights - VinFast Auto Ltd. reported a significant increase in electric vehicle deliveries, with 36,330 units delivered in Q1 2025, marking a 296% increase from Q1 2024 [1][2] - The company achieved total revenues of VND16,306.4 billion (US$656.5 million) in Q1 2025, a 149.9% increase from the same period last year [3] - VinFast's gross profit margin improved to negative 35.2%, a substantial improvement from negative 58.7% in Q1 2024 and negative 79.1% in Q4 2024, indicating enhanced operational efficiency [4] Financial Performance - The company recorded gross and net losses of VND5,736.5 billion (US$231.0 million) and VND17,693.8 billion (US$712.4 million) respectively in Q1 2025 [3] - VinFast's revenue growth is attributed to increased operational efficiency and cost optimization strategies [4] Funding and Support - Vingroup plans to provide VinFast with additional borrowings of up to VND35,000.0 billion (US$1.4 billion) from November 2024 until 2026, with VND30,571.3 billion (US$1.2 billion) already disbursed as of May 31, 2025 [5] - The founder and CEO, Mr. Pham Nhat Vuong, has committed to provide up to VND50,000.0 billion (US$2.0 billion) in grants, with VND20,500.0 billion (US$825.4 million) disbursed to date [6] Product Development - VinFast launched the EC Van, a compact electric cargo vehicle, with deliveries expected to begin in November 2025 at a starting MSRP of VND285 million (US$11,500) [7][8] - The company introduced the EB 6, a 6-meter electric bus platform, expected to be available in September 2025 [9] - Plans for next-generation platforms and new Electrical/Electronic architecture are set to begin with the Limo Green model in Q3 2025 [10] Market Expansion - VinFast is expanding its presence in Indonesia with the launch of the VF 6, its fourth model, with deliveries expected in Q2 2025 [11] - In the Philippines, the company signed agreements to establish over 70 authorized service workshops in 2025 [13] - VinFast launched its brand in India at the Bharat Mobility Global Expo 2025, introducing two electric SUV models [14] Operational Strategy - The company is optimizing its operations in North America and Europe by closing five direct-to-consumer stores in Canada and transitioning to dealer showrooms in Germany and the Netherlands [15][16] - As of April 30, 2025, VinFast had 388 showrooms globally for EVs [17] Business Outlook - VinFast aims to at least double global vehicle deliveries in 2025, focusing on key markets including Vietnam, Indonesia, the Philippines, India, North America, and Europe [19] - The company is continuously assessing the potential for other vehicle types to enhance accessibility to electric mobility [20]