Vietnamese electric vehicle (EV) manufacturer VinFast experienced a substantial 159% surge in third-quarter revenue
This impressive revenue growth was a result of VinFast's efforts to boost car deliveries and sales in the United States through strategic partnerships with dealers
VinFast holds a prominent position in the EV industry
The company is financially backed by Vingroup, Vietnam's largest conglomerate
VinFast has strategic plans to establish an assembly facility in India, known as the world's third-largest car producer
This strategic move aims to leverage incentives provided by the South Asian government to encourage EV adoption
Despite its overall growth, VinFast faced challenges earlier in the year when it voluntarily recalled its initial batch of 999 cars delivered to the United States
In the third quarter, VinFast successfully delivered 10,027 EVs to its customers.
During this period, the company achieved a revenue of 8.25 trillion Vietnamese dong, equivalent to approximately $338 million
However, it's worth noting that VinFast also reported an increase in net losses, which widened to 15 trillion Vietnamese dong
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