VinFast Auto Q2 Vehicle Deliveries Up 26%; Sees Strong H2 Sales Growth

(RTTNews) - VinFast Auto Ltd. (VFS) said it delivered 12,058 vehicles in the second quarter of 2024, representing an increase of 26% from the same quarter of the prior year.

The company delivered 21,747 electric vehicles in the first half of 2024, a significant 92% increase over the same period in 2023.

The company now anticipates delivering approximately 80,000 electric vehicles in 2024, compared to 34,855 vehicles delivered in 2023, or 2.3x year-over-year growth.

VinFast said it has made the strategic decision to adjust the timeline for the launch of its North Carolina manufacturing facility, which is now expected to begin production in 2028.

The company noted that the decision will allow it to optimize its capital allocation and manage its short-term spending more effectively, focusing more resources on supporting near-term growth targets and strengthening existing operations.

The company anticipates strong sales growth in the second half of this year.

The company also announced that it will release its second-quarter financial results before the market opens on August 15th, 2024.