VinFast Auto Ltd., an electric vehicle manufacturer, reported its unaudited financial results for the first quarter of 2025. The company recorded total revenues of VND16,306.4 billion (US$656.5 million), marking a year-over-year increase of 149.9% from VND6,525.9 billion in the first quarter of 2024. However, there was a slight quarter-over-quarter decline of 1.2% compared to VND16,496.4 billion in the fourth quarter of 2024. Vehicle sales reached VND15,215.5 billion, representing a significant year-over-year growth of 164.4% from VND5,754.2 billion in the first quarter of 2024, though they experienced a 1.5% decrease from the previous quarter's VND15,441.5 billion. The company's net loss for the first quarter of 2025 was VND17,693.8 billion, an increase of 20.0% compared to a net loss of VND14,743.9 billion in the same period last year. Additionally, the net loss decreased by 42.2% from the fourth quarter of 2024 when it stood at VND30,594.8 billion. VinFast delivered 36,330 electric vehicles in the quarter, a substantial increase from 9,176 units in the first quarter of 2024, although this was a decline from 53,139 units delivered in the previous quarter. E-scooter deliveries also saw a rise to 44,904 units from 7,837 units year-over-year and 31,170 units quarter-over-quarter. The company's gross loss was reported at VND5,736.5 billion, which, while higher than the VND3,828.9 billion from the first quarter of 2024, represented an improvement from the VND13,054.4 billion gross loss in the fourth quarter of 2024. VinFast's Chief Financial Officer, Ms. Lan Anh Nguyen, highlighted the company's progress in reducing costs and streamlining operations, noting that economies of scale are beginning to positively impact operating leverage. The company is focused on further optimizing its bill of materials (BOM) costs and enhancing the quality, performance, and affordability of its products.