Singapore: VinFast Auto Ltd. has reported a strong start to 2026, with global revenue in the first quarter rising 41.7% year-on-year to VND23,111.1 billion, or approximately US$920.7 million. The growth was driven by higher electric vehicle sales in Vietnam and rising contributions from international markets including India, Indonesia and the Philippines.
The Vietnamese electric vehicle maker delivered 58,577 EVs in the first quarter ended March 31, 2026, marking a 61% increase compared to the same period last year. International markets contributed around 8% of total deliveries, indicating that VinFast’s global expansion is beginning to move from PowerPoint ambition to showroom reality.
In its home market of Vietnam, VinFast’s EV deliveries grew 53% year-on-year. The company said it has maintained its position as the number one OEM in the domestic automotive market since September 2024, a title that certainly looks good on a corporate presentation and even better on a balance sheet.
Southeast Asia and India remained important growth markets for the brand. By the end of the first quarter, VinFast ranked as the number one battery electric vehicle brand in the Philippines, fourth in India and eighth in Indonesia. For a relatively young global EV player, that is not a bad parking spot in some of Asia’s most competitive automotive markets.
VinFast’s two-wheeler business also delivered a major surge. The company sold 143,136 units of e-scooters and e-bikes during the quarter, up 219% from Q1 2025. In March alone, VinFast received more than 135,000 e-scooter orders and shipped over 93,000 units to dealers in Vietnam. The company currently leads Vietnam’s electric motorcycle market and expanded its share of the overall motorcycle market, including electric and internal combustion models, to 17% in March.
VinFast continued to grow its global retail footprint during the quarter. By the end of Q1 2026, customers could purchase VinFast EVs from 447 showrooms worldwide. Because in the EV business, having the car is important, but having a place to explain the touchscreen to confused relatives is equally critical.
Commenting on the results, Pham Nhat Quan Anh, Chairman of VinFast, said, “VinFast has entered a new phase focused on disciplined execution, long-term sustainability, and scalable growth. As we continue expanding globally, we remain committed to strengthening our operational foundation, enhancing capital efficiency, and advancing our transition toward a more asset-light and resilient business model in Vietnam. We believe the long-term global shift toward electrification, supported by increasing focus on energy security and operating efficiency, continues to create meaningful opportunities for VinFast across our core markets.”
Lan Anh Nguyen, Chief Financial Officer of VinFast, added, “Our priorities remain centered on disciplined financial management, operational excellence, and the efficient deployment of capital. We continue to focus on improving productivity, optimizing our cost base, and strengthening the financial resilience of the business. These efforts are intended to support sustainable growth while maintaining the flexibility needed to execute our long-term strategic objectives.”
The company is also strengthening its after-sales network, a crucial area for any automaker trying to build trust in new international markets. VinFast recently signed new Memoranda of Understanding with 29 after-sales partners across multiple markets to establish EV service workshops aligned with its global standards. The brand aims to expand to more than 1,100 service workshops globally in 2026 across North America, Europe, the Middle East and Asia.
VinFast is also making moves in autonomous vehicle technology. On June 1, at the NVIDIA GTC Taipei event during COMPUTEX 2026, VinFast, NVIDIA and Autobrains announced a strategic collaboration for a next-generation Level 4 autonomous driving program for Southeast Asia, built on NVIDIA Drive Hyperion. The partnership is aimed at making advanced autonomous driving technology more accessible at a reasonable cost, particularly in markets with complex traffic conditions.
Looking ahead, VinFast plans to expand through multiple distribution models, with dealership partnerships remaining the primary channel. The company also intends to strengthen manufacturing, assembly and distribution capabilities across its operating markets, while continuing to evaluate new vehicle segments, technologies and smart mobility solutions.
VinFast management will host its Q1 2026 earnings conference call at 8:00 AM U.S. Eastern Time on June 8, 2026.
With revenue climbing, deliveries rising and scooters flying out faster than morning office traffic, VinFast’s first quarter suggests the company is pushing harder on the global EV accelerator. The road ahead remains competitive, but for now, VinFast appears determined to make sure its expansion story has more charge than range anxiety.
