VinFast, the electric vehicle (EV) maker under Vietnamese conglomerate Vingroup, reported unaudited second-quarter 2026 revenue of VND30,340.9 billion ($1.2 billion), up 85 percent from a year earlier, the company said on Monday.

Its loss from continuing operations widened 128 percent to VND31,189.2 billion ($1.2 billion.) The total net loss reached VND1,414.9 billion, after a gain from discontinued operations.

The company delivered 70,085 EVs in the quarter, up 96 percent from a year earlier. International markets outside Vietnam accounted for about 11 percent of those deliveries. Deliveries of e-scooters and e-bikes rose 311 percent to 286,039.

For the first half of 2026, VinFast reported revenue of VND53,176.9 billion ($2.11 billion), with an operating loss of VND48,103.7 billion.

Research and development spending rose 65.9 percent to VND3,874.9 billion. Selling, general and administrative expenses rose 59.4 percent to VND5,259.9 billion, partly because some sales incentives on deferred-revenue vehicles were booked as selling expenses. The loss from operations was VND29,146.8 billion.

VinFast remained Vietnam’s single biggest vehicle seller in the first nine months of 2026, delivering 177,697 cars at home. It accounted for a third of a combined national total at 495,138 units.

CEO and Chairman Pham Nhat Quan Anh said the company had strong momentum in its core markets. CFO Lan Anh Nguyen said the company is taking steps to reduce the capital intensity of its operations and that electric mobility remains central to its strategy, along with “a pathway toward profitability.”

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