VinFast Auto (VFS) shares surged 5.56% in pre-market trading on Monday following the release of its impressive first-quarter 2025 financial results and announcements of significant funding commitments and expansion plans. The electric vehicle manufacturer demonstrated robust growth and improved financial performance, despite ongoing challenges in the competitive EV market.

VinFast reported total revenue of $656.5 million for Q1 2025, marking a substantial year-over-year increase of 149.9% and surpassing analysts' expectations of $520 million. The company's EV deliveries reached 36,330 units, nearly quadrupling from the same period last year. Despite posting a net loss of $712.4 million, which was higher than estimated, VinFast showed progress in reducing its losses by 42.2% compared to the previous quarter. The company's CFO, Ms. Lan Anh Nguyen, highlighted ongoing efforts to reduce costs and improve operational efficiency.

Investors were further encouraged by announcements of additional financial support and expansion plans. VinFast's CEO, Pham Nhat Vuong, committed to providing up to $2 billion in free grants to the company and its units. Additionally, Vingroup, VinFast's parent company, intends to offer up to $1.4 billion in additional borrowings through 2026. The automaker also revealed plans to start operations at its CKD facility in Tamil Nadu, India, in July, signaling its commitment to global expansion. Moreover, VinFast has set an ambitious target to at least double its global vehicle deliveries in 2025, reflecting confidence in its growth trajectory and market potential.