VinFast Auto (VFS) shares surged 5.56% in pre-market trading on Monday following the release of its impressive first-quarter 2025 financial results. The Vietnamese electric vehicle manufacturer reported total revenue of $656.5 million, significantly surpassing analysts' expectations of $520 million and marking a substantial 149.9% year-over-year increase.

The company's performance was driven by robust electric vehicle deliveries, which reached 36,330 units in Q1, nearly quadrupling from 9,176 units in the same period last year. Despite a net loss of $712.4 million, which was higher than the estimated $616.3 million, VinFast showed signs of improvement with a 42.2% reduction in net loss compared to the previous quarter.

Investors were further encouraged by VinFast's ambitious growth plans and strong financial backing. The company aims to at least double its global vehicle deliveries in 2025, while its parent company Vingroup has committed to providing up to $1.4 billion in additional borrowings through 2026. Moreover, CEO Pham Nhat Vuong has pledged up to $2 billion in free grants to the company and its units, demonstrating confidence in VinFast's future prospects. The announcement of its CKD facility in Tamil Nadu, India, starting operations in July also points to the company's expanding global footprint, potentially contributing to the positive market sentiment.