Tesla Vietnamese Rival VinFast Sees EV Deliveries Surge 296% In Q1

VinFast Auto VFS announced its preliminary vehicle deliveries for the first quarter of 2025 on Monday.

The Vietnamese EV maker delivered 36,330 electric vehicles globally in the first quarter of 2025, representing a 296% increase year-over-year. VF 3 and VF 5 accounted for 67% of total deliveries during the quarter.

VF 5 deliveries grew 153% Y/Y, and VF 6 deliveries grew 453% Y/Y.

Also Read: Vietnamese EV Maker VinFast And JTA Investment Qatar Ink $1 Billion Deal For EV And Tourism Growth

VinFast also announced that it delivered 44,904 e-scooters and e-bikes in the first quarter of 2025, representing a 473% year-over-year increase.

The company will release its first-quarter 2025 financial results before the market opens on June 9, 2025.

VinFast Auto stock tanked 23% year-to-date. The company reported fourth-quarter earnings per share of a 54-cent loss, missing the street view of a 23-cent loss. Revenues of $677.89 million missed the analyst consensus estimate of $859.08 million.

The company aimed to at least double global deliveries in fiscal 2025 while continuing to monitor evolving macroeconomic conditions.

Now let us compare the EV deliveries with the U.S. EV giant and Chinese peers.

Tesla Inc TSLA delivered 336,681 vehicles (323,800 Model 3/Y) during the quarter, down from 386,810 vehicles a year ago. The company said that while the changeover of Model Y lines across all four of its factories led to the loss of several weeks of production in the first quarter, the ramp of the New Model Y continues to go well.

For the first quarter of 2025, XPeng XPEV delivered 94,008 Smart EVs, a 331% increase over last year.

Li Auto LI reported first-quarter deliveries to 92,864, up by 15.5%.

Nio NIO delivered 42,094 vehicles in the first quarter of 2025, a 40.1% growth.

Price Action: VFS shares were trading 3.25% higher at $3.34 as of Monday’s last check.

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