Vietnam’s electric vehicle maker Vinfast said on Monday it delivered 9,535 vehicles in the second quarter (2Q23), more than five times the number of deliveries in 1Q23. VinFast delivered a total of 11,315 electric vehicles in the first half of 2023 globally.

It reported 11,315 deliveries for the first half of this year.

The company also announced in a filing with the US Securities and Exchange Commission that it will release its 2Q23 financial results before market open on September 21, 2023.

VinFast – a member of Vingroup JSC – is a Vietnamese automotive manufacturer. VinFast manufactures a portfolio of electric SUVs, e-scooters and e-buses in Vietnam, and exports to the United States, and, soon, Europe.

VinFast said “its deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the average selling price of VinFast’s vehicles and various cost components”.

Last week, VinFast announced its plans to expand in seven more markets in Asia, including Indonesia. The company also targets to start deliveries from next year and set up a plant in Indonesia in 2026.

VinFast, formed and almost entirely controlled by Vietnam richest man Pham Nhat Vuong, also plans to invest around $1.2 billion in the Indonesian market in the long-term, according to its filing to the to US Securities and Exchange Commission dated Sep 12.

The EV maker also said in its filing that it plans to create a presence in India, Malaysia, the Middle East, Africa and Latin America, and expand its presence in Europe, as it identified between 40 and 50 potential markets.

VinFast aims to set up its own distributors and may open showrooms in those locations, the filing showed.

Last month, the startup achieved a Nasdaq listing that valued the loss-making startup at more than $85 billion, higher on its listing day than Ford, Reuters reported.

Vietnam’s EV maker VinFast plans Asia expansion; to build plant in Indonesia in 2026