VinFast’s losses widened substantially in Q4 2024

By / / Automotive / 1 minute of reading

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Despite ambitious expansion plans, VinFast remains heavily reliant on support from VinGroup and Chief Executive Pham Nat Vuong. By Stewart Burnett

Vietnamese electric vehicle (EV) maker VinFast reported a US$1.3bn net loss for Q4 2024, more than doubling its US$650m loss from Q4 2023. The widening losses were attributed to expansion costs, free charging programs, and asset impairments, and came in spite of revenue rising 56% year-on-year to $678m.

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VinFast’s losses widened substantially in Q4 2024

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