VinFast Accelerates Global Expansion and Electrification Momentum Amid Rising Oil Prices
On June 8th, VinFast, a leading Vietnamese electric vehicle (EV) manufacturer, shared its first-quarter 2026 financial results and outlook in a conference call that highlighted the company's growing global presence and commitment to sustainable mobility. Chairman of the Board, Mr. Pham Nhat Quan Anh, emphasized the strategic importance of this stage in VinFast's development, building on the foundation established by previous leadership.
As the global energy landscape continues to evolve, with higher oil prices reinforcing a long-term case for electrification, particularly across import-dependent economies, VinFast is well-positioned to capitalize on this trend. The company's core markets are increasingly leading global EV adoption trends, driven by structural shifts in government policies aimed at reducing fuel dependence and strengthening energy security.
One such example is Vietnam, where VinFast recorded a new daily sales high of 3,520 EVs on March 28th, alongside a record month for E2W orders. To support this momentum, the company has strengthened its long-term operating model through strategic partnerships and asset spin-offs, enhancing financing flexibility and transitioning towards a more capital-light business model.
The quarterly results were impressive, with VinFast delivering 58,577 units, a 61% year-over-year increase despite being in the seasonally slowest quarter. International deliveries accounted for 8%, while non-related parties made up 87% of deliveries. Electric two-wheeler deliveries rose 219% year-over-year to approximately 143,000 units, with the Evo and Feliz models comprising 81% of deliveries.
Notably, VinFast received over 135,000 e-scooter orders in March alone and shipped over 93,000 e-scooters to dealers in Vietnam. In the country's total automotive market, sales grew 36% year-over-year in the quarter to approximately 162,000 units, solidifying VinFast's position as the number one OEM for every month since September 2024.
These developments demonstrate VinFast's commitment to becoming a globally competitive mobility company positioned for sustainable long-term growth. The company's strategic direction is centered on strengthening operational execution, enhancing customer experience, and advancing innovation in software-defined mobility and autonomous technologies.
