Vietnam's VinFast posts higher Q1 revenue as vehicle deliveries increase

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The company’s quarterly revenue more than tripled to $302.6 million.

© Reuters. A VinFast electric taxi, operated by GSM, a private company owned by VinFast's owner, passes by a street, in Hanoi, Vietnam April 7, 2024. REUTERS/Francesco Guarascio/ File photo

VinFast maintained its 2024 goal of 100,000 EV deliveries.

The company delivered nearly 9,700 cars in the first three months of this year, with a large portion going to its affiliate Green SM, a taxi operator and leasing provider backed by VinFast CEO Pham Nhat Vuong.