Vinfast

What Vinfast does

VinFast is a vertically integrated pure-play electric vehicle manufacturer founded in 2017 and headquartered in Hanoi, Vietnam, with primary manufacturing in Hai Phong and additional plants under development in Tamil Nadu, India (initial 50,000-unit capacity scaling to 150,000) and Subang, West Java, Indonesia (planned 350,000-unit capacity). A subsidiary of Vingroup and listed on NASDAQ under ticker VFS since its 2022 SPAC merger, VinFast offers a portfolio spanning electric motorcycles (Evo, Feliz II, Viper) through passenger EVs (VF 3, VF 5, VF 6, VF 7, VF 8, VF 9) and multi-purpose vehicles (VF MPV 7), supported by an integrated ecosystem comprising the V-Green charging subsidiary, Green SM all-electric ride-hailing service, VF Connect connected-vehicle subscription platform, and a battery subscription program.

The company's core technology stack rests on a proprietary Software Defined Vehicle architecture with an in-house Central Vehicle Computer, a patented Integrated Thermal Management system, Frequency Selective Dampers suspension, and an AI-powered connected vehicle platform (VinFast 3.0). Through a June 2026 strategic partnership with NVIDIA and Autobrains, VinFast is developing a Level 4 autonomous driving platform targeting robotaxi deployment in Southeast Asia by 2028. Manufacturing is AI-assisted, with simplified production architectures designed to control costs.

VinFast generates revenue primarily through hardware sales of EVs and electric motorcycles to individual consumers, fleet operators, and dealer networks, supplemented by recurring battery subscriptions, VF Connect software/service subscriptions (Pro, Premium, Prime tiers), and a long-term supply agreement to deliver approximately 1 million EVs and 4 million electric two-wheelers to affiliated ride-hailing company Green SM over 2026–2030. Q1 2026 revenue reached $920.7 million (up 41.7% YoY) on 58,577 EV deliveries (up 61% YoY), with 2026 sales targeted at 300,000 vehicles globally. The company remains loss-making (approximately $4 billion loss in 2025) and in May 2026 divested its Vietnamese manufacturing assets for approximately $530 million, shedding roughly $6.9 billion in debt and transitioning toward an asset-light operating model. Geographic footprint spans Vietnam, India, Indonesia, Philippines, Laos, Thailand, Malaysia, Kazakhstan, Saudi Arabia, Taiwan, Denmark, the US, Canada, France, and Germany.

Name

Vinfast

Legal name

Công ty Cổ phần Sản xuất và Kinh doanh VinFast

Website

https://vinfast.vn

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

10,001+ employees

Short description

VinFast is a Vietnamese pure-play EV manufacturer producing electric motorcycles and passenger vehicles (VF 3–VF 9, VF MPV 7) with vertical integration into charging (V-Green), ride-hailing (Green SM), and connected services (VF Connect), serving mass-market consumers and fleet operators across Southeast Asia, India, and select global markets.

Ownership category

akta.pro rank

Product category

Electric Vehicles

NAICS

Motorcycle, ATV, and All Other Motor Vehicle Dealers (441227), Motorcycle, Boat, and Other Motor Vehicle Dealers (44122), Tire Manufacturing (32621)

SIC

Motor Vehicle Parts & Accessories (3714)

akta.pro industry

PRIMARYIMACAHAJ

Hybrid Powertrain Integration Manufacturing (ICE-HEV/PHEV modules)

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Automotive Powertrain & Drivetrain Manufacturing (Engines/Transmissions/Axles)

SECONDARYIMACACAJ

Hydrogen Fuel Cell Electric Vehicle (FCEV) Manufacturing

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Electric Vehicle (EV) Manufacturing

SECONDARYIMACAEAH

Dirt Bike / Motocross / Enduro Motorcycle Manufacturing

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Motorcycle, Scooter & Powersports Manufacturing

SECONDARYIMANAKAA

Passenger Car Tires Manufacturing

Industrials, Manufacturing & Construction/Plastics & Rubber Manufacturing/Tires & Inner Tubes Manufacturing

SECONDARYIMANAKAB

Light Truck/SUV Tires Manufacturing

Industrials, Manufacturing & Construction/Plastics & Rubber Manufacturing/Tires & Inner Tubes Manufacturing

SECONDARYIMANAKAF

Motorcycle & Scooter Tires Manufacturing

Industrials, Manufacturing & Construction/Plastics & Rubber Manufacturing/Tires & Inner Tubes Manufacturing

SECONDARYCRAFAGAI

Automotive Parts & Mobility Recommerce (Parts, Accessories, Bikes/Scooters)

Consumer Products & Retail/E-commerce & Marketplaces/Secondhand/Resale & Recommerce Platforms

Keywords

• Electric vehicles
• Electric motorcycles
• EV charging infrastructure
• Battery subscription
• Ride-hailing services

Headquarters

HQ city

Hai Phong

HQ country

Vietnam

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Electric Vehicle Sales: Primary revenue stream from selling electric vehicles (cars and SUVs) to individual consumers, fleet operators, and through dealer networks. Q1 2026 revenue reached $920.7 million with 58,577 EVs delivered. The company sells vehicles both with battery included and with battery subscription options.
2. Electric Motorcycle Sales: Sales of electric motorcycles including Evo, Feliz II, Viper models with battery purchase or subscription options. VinFast reached 1 million electric motorcycles produced milestone in 2026, with 406,000+ sold in 2025 alone. Battery subscription model priced at ₱439/month in the Philippines.
3. Battery Subscription: Optional battery subscription model allowing customers to lease batteries rather than purchase them outright, reducing upfront vehicle cost. This creates recurring revenue and addresses battery cost anxiety.
4. Strategic Supply Agreement with GSM: Long-term supply agreement to provide approximately 1 million EVs and 4 million electric scooters to affiliated ride-hailing company GSM from 2026-2030, representing a major committed revenue stream.
5. VF Connect Subscription Services: Paid subscription tiers for connected vehicle services: VF Connect Pro (799,000 VND/year, 2,999,000 VND/5 years, 3,999,000 VND/10 years), Premium (1,299,000 VND/year or 4,999,000 VND/5 years), and Prime (1,599,000 VND/year with 1GB daily data).

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

VinFast is a pure-play electric vehicle manufacturer selling a portfolio of electric cars (VF 6, VF 7, VF 8, VF 9, VF MPV 7) and electric motorcycles (Evo, Feliz II, Viper) with manufacturing in Vietnam, India, and Indonesia. The company operates a vertically integrated ecosystem including its V-Green charging infrastructure subsidiary, Green SM electric ride-hailing service, and VF Connect connected vehicle platform. Vehicles are sold with battery included or via battery subscription, supported by company-owned and franchise dealerships plus direct fleet sales.

Product overview

VinFast is a Vietnamese pure-electric vehicle manufacturer offering a comprehensive portfolio of electric cars and motorcycles. The vehicle lineup includes VF 3 (mini SUV), VF 5 (compact SUV), VF 6 (crossover), VF 7 (SUV), VF 8 (D-segment SUV with new generation launched May 2026), VF 9 (flagship E-segment SUV), and VF MPV 7 (multi-purpose vehicle). Two-wheel electric vehicles include Evo, Feliz II, Viper, Klara, Vento, Theon, and Minio Green models. Supporting the vehicle ecosystem are VF Connect (connected services platform with Basic, Pro, Premium, Prime tiers offering AI assistant, remote control, navigation, and app store), V-Green (charging infrastructure subsidiary), Green SM (ride-hailing service), and battery subscription programs. VinFast operates manufacturing facilities in Vietnam, India (Tamil Nadu), and Indonesia (West Java).

Differentiator

Problem solved

Functional benefit

Brands

• Green SM: All-electric ride-hailing and taxi service using VinFast vehicles, operating in Vietnam, Laos, Indonesia, Philippines, India, Kazakhstan, and Denmark.
• V-Green
• VinBus

Products and services

• VF 8 (New Generation) D-segment electric SUV with new generation featuring Software Defined Vehicle architecture, 500 km NEDC range, 170 kW motor, and Frequency Selective Dampers suspension. Priced at VND 999 million in Vietnam and US$39,900 (Eco) / US$44,900 (Plus) in the US market. Targeted at premium individual consumers and fleet operators.
• VF 9 E-segment flagship electric SUV offering up to 626 km range with CATL battery, 6/7 seat configurations, business-class captain seats with massage/ventilation/heating, panoramic sunroof, and a 15.6-inch center display. Targeted at premium family and executive buyers.
• VF 7 C-segment electric SUV with 532 km range (70 kWh battery), 5.8-second 0-100 km/h acceleration, and optional all-wheel drive. Plus variant priced around PHP 1,249,000 in the Philippines. Recognized as Electric SUV of the Year at Car India Awards 2026.
• VF 6 Electric crossover positioned as VinFast's strategic volume model, featuring 201-horsepower motor, 12.9-inch infotainment screen and head-up display. Won Value for Money Car of the Year at 2026 Auto Excellence Awards in India. Together with VF 7 accounts for 53% of VinFast India's total EV sales in FY2027.
• VF MPV 7 Electric multi-purpose vehicle targeting Indian and Southeast Asian families with 517 km MIDC-certified range, 204 PS power output, free maintenance for 3 years, and comprehensive warranty including 7-year vehicle and 10-year battery coverage. Priced at PHP 1,518,000 in the Philippines with battery subscription option.
• Evo Electric Motorcycle Battery-swapping electric motorcycle launched in the Philippines and Indonesia with lithium iron phosphate battery providing up to 150 km range. Sold via V-Green's battery-swapping network with subscription at PHP 439/month.
• Feliz II Electric Motorcycle Battery-swapping electric scooter with up to 150 km range, deployed through V-Green's battery-swapping infrastructure network in the Philippines and Indonesia.
• Viper Electric Motorcycle Battery-swapping electric motorcycle model offered in the Philippines and Indonesia markets as part of VinFast's two-wheeler international expansion, with up to 150 km range and lithium iron phosphate battery.
• Limo Green Seven-seater electric SUV specifically configured for ride-hailing fleets with integrated safety features including cameras, AI monitoring, and emergency support buttons. Used by Green SM ride-hailing service in Delhi-NCR, Vietnam, Laos, Indonesia, and the Philippines.
• Green SM Ride-Hailing Service All-electric ride-hailing service backed by VinFast and Vingroup, operating fleets of VinFast EVs across Vietnam, Laos, Indonesia, Philippines, India (Delhi-NCR), Kazakhstan, and Denmark. Uses asset-owned model with company-operated vehicles.
• VF Connect Connected vehicle services platform for VinFast electric vehicles offering multiple subscription tiers: Basic (free lifetime), Pro (VND 799,000/year, VND 2,999,000/5 years), Premium (VND 1,299,000/year), and Prime (VND 1,599,000/year with 1GB daily data). Includes VinFast 3.0 AI virtual assistant, remote vehicle control, theft alerts, navigation, and in-vehicle app store.
• V-Green Charging Infrastructure VinFast's EV charging infrastructure subsidiary deploying battery-swapping stations and charging networks globally. Partnered with ChargeZone in India (15 stations operational, 100+ planned) and HPCL for nationwide fuel station network charging deployment. Customers pay for charging access at V-Green stations.

Quantifiable outcome

• Q1 2026 revenue of $920.7 million, up 41.7% YoY
• +6 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability8 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Green SMcoreOthers · 24 June 2026VinFast-backed electric taxi service launched in Kazakhstan marking Central Asia entry and second new market in June 2026. Green SM accounts for approximately 13% of VinFast's total EV sales. Strategic vehicle supply agreement for ~1 million EVs and 4 million e-scooters from 2026-2030.
• Shriram FinancecoreChannel Partner/ Reseller/ Distributor · 23 June 2026MoU signed to provide tailored financing solutions for VinFast India EV customers including up to 100% on-road funding, attractive interest rates, and flexible repayment options across VinFast's product portfolio leveraging Shriram's pan-India presence.
• Tata CapitalcoreChannel Partner/ Reseller/ Distributor · 19 June 2026MoU enabling VinFast's dealers to access inventory financing, working capital support, and credit solutions. Partnership aims to support operational ease and long-term growth for VinFast's brand in India through Tata Capital's extensive network.
• NVIDIAcoreTechnology or Integration · 10 June 2026Three-way partnership with NVIDIA and Autobrains to develop next-generation Level 4 autonomous driving platform for Southeast Asia, built on NVIDIA DRIVE Hyperion 10 architecture. Aims to make advanced autonomous driving accessible at reasonable cost.
• AutobrainscoreTechnology or Integration · 10 June 2026Strategic collaboration to develop Level 4 autonomous driving platform for Southeast Asia using Autobrains' Agentic AI software combined with NVIDIA DRIVE Hyperion 10. Partnership addresses system complexity, compute cost, and real-world performance challenges.
• Philippine Economic Zone Authority (Peza)minorOthers · 8 June 2026Peza is courting VinFast to set up charging facilities and potentially manufacture EV charging equipment within Philippine ecozones, building on existing presence through Green GSM partnerships and provincial government of Bataan collaborations.
• Green SM (India Expansion)coreOthers · 5 June 2026Green SM Limo launched in Delhi-NCR using VinFast Limo Green seven-seater electric SUVs. Initial fleet of ~1,000 vehicles expanding to 10,000. First major mobility market entry outside Southeast Asia, filling BluSmart's exit gap in premium EV ride-hailing.
• ChargeZoneminorChannel Partner/ Reseller/ Distributor · 28 May 2026V-Green (VinFast's charging subsidiary) partnered with ChargeZone to deploy co-branded EV charging infrastructure for VinFast customers in India. First 15 stations operational with nearly 100 more planned within six months.
• Hindustan Petroleum Corporation Limited (HPCL)minorChannel Partner/ Reseller/ Distributor · 28 May 2026V-Green partnered with HPCL to deploy EV charging stations across HPCL's nationwide fuel station network in India, expanding charging infrastructure access for VinFast customers.
• RepairwiseminorImplementation/ SI/ Consulting Partner · 25 May 2026Authorized U.S. after-sales service partner using digital-first platform to connect VinFast owners with certified repair facilities through remote diagnostics, online estimates, and appointment scheduling. Addresses coverage gap in U.S. market.
• 75 Philippine Transport CompaniescoreChannel Partner/ Reseller/ Distributor · 20 May 2026Green GSM signed MOUs and deposit agreements with 75 transport companies and cooperatives in Philippines for deployment of up to 18,497 VinFast EVs for passenger transport operations across multiple provinces and cities.
• Malaysian GovernmentminorOthers · 11 May 2026Malaysia imposed new tariffs on imported EVs (minimum RM200,000 CIF value and 180 kW power output) effective July 1, 2026, prompting VinFast to study local CKD assembly operations to bypass import restrictions.
• Castrol IndiaminorImplementation/ SI/ Consulting Partner · 15 May 2025MoU signed in 2025 to explore after-sales ecosystem integration with VinFast's growing Indian network. Castrol is evaluating EV fluid market entry while supporting VinFast's service operations.

Scale indicators14 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Ather Energy: Indian premium electric two-wheeler manufacturer with connected vehicle platform and charging infrastructure (Ather Grid). Comparable to VinFast's e-scooter lineup on smart, connected two-wheeler positioning and software-led differentiation in the Indian market.
• NIO: Chinese premium EV maker with proprietary battery-swap technology, connected services, and software-defined vehicle architecture. Comparable on technology stack (battery swap, OTA, proprietary OS) and emerging-market expansion ambitions overlapping with VinFast's Southeast Asia strategy.
• BYD: Global battery EV and plug-in hybrid manufacturer with extensive emerging-market expansion, vertical integration across batteries and vehicles, and active ride-hailing/fleet partnerships. Directly comparable on product breadth, pricing aggression in Southeast Asia, and global manufacturing footprint strategy.
• Ola Electric: India's largest electric two-wheeler manufacturer with proprietary battery swapping network and vertically integrated manufacturing. Directly comparable to VinFast's motorcycle business on product category, Indian market focus, and battery-swap-as-a-service model.
• Mahindra Electric: Indian BEV manufacturer (XUV400, upcoming XUV.e8) with local manufacturing and emerging market focus. Directly comparable as another home-market Indian EV player competing with VinFast in the same segment and channels.
• Hero Electric: India-focused mass-market electric two-wheeler manufacturer with broad dealer footprint. Comparable to VinFast's mass-market motorcycle strategy in India and shared dependence on battery subscription economics.
• Tata Motors (EV division): India's largest domestic automaker with an expanding EV lineup (Tiago EV, Punch EV, Nexon EV, Curvv EV) competing head-to-head with VinFast in the Indian mass-market EV segment. Comparable on local manufacturing advantage, India-focused GTM, and aggressive EV pricing strategy.
• XPeng: Chinese smart EV manufacturer focused on ADAS, software-defined vehicles, and affordable premium positioning. Comparable on software/AI-led differentiation, ADAS and connected car capabilities, and rapid international expansion including Southeast Asia.

Broad incumbents

• Hyundai Motor Group (including Kia): Established global automaker with rapidly expanding EV lineup (Ioniq 5/6, EV6) and strong manufacturing presence in India, Indonesia, and Southeast Asia. Comparable on multi-market emerging-market EV expansion and broad vehicle portfolio, though operates as a much larger incumbent with ICE legacy.
• Tesla: Global EV leader with strong software-defined vehicle architecture, OTA, autonomous driving (FSD), and proprietary charging network. Comparable as the benchmark for software-led EV economics, vertical integration, and software/subscription revenue layers that VinFast is emulating with VF Connect and SDV.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/vinfast
• Facebookfacebook.com/VinFastGlobalOfficial
• Xx.com/VinFastofficial
• LinkedInlinkedin.com/company/vinfast-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds8 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vinfast