VinFast

What VinFast does

VinFast is a Vietnamese-origin electric-vehicle manufacturer founded in 2017 as part of Vingroup JSC, Vietnam's largest private conglomerate, and listed on Nasdaq under ticker VFS since August 15, 2023, following a SPAC business combination with Black Spade Acquisition Co at a US$23 billion equity value. Headquartered in Hanoi with manufacturing in Hai Phong (Vietnam), Thoothukudi (India), and Subang (Indonesia) — and a delayed North Carolina facility now targeting 2028 — VinFast sells a multi-segment passenger EV portfolio (VF 5, VF 6, VF 7, VF 8, VF 9, VF MPV 7), the swappable-battery e-scooter lineup (Evo, Feliz II, Viper, Flazz), the DrgnFly eBike, and upcoming ultra-luxury Lac Hong concepts to consumers and fleet operators across Vietnam, India, Indonesia, the Philippines, the US, Canada, France, Germany, the Netherlands, the UAE, and the Democratic Republic of Congo.

The company's technology stack centers on electric powertrains built around the NVIDIA DRIVE Hyperion platform for autonomous driving, a unified Electrical/Electronic (EE) architecture, LFP battery cells via Gotion High-Tech, next-generation solid-state battery development via ProLogium, and a cost-optimized seven-camera ADAS system via Autobrains' Agentic AI in lieu of LiDAR/radar. Voice AI is delivered through Cerence in six languages, Amazon Alexa in VF 8/VF 9, and VinBigData's ViVi Vietnamese assistant; charging and battery-swap infrastructure is operated through the V-Green subsidiary targeting 1.5 million+ ports globally. Vehicles carry an industry-leading 10-year/125,000-mile warranty and are backed by free V-Green charging through March 2029 in key Asian markets.

VinFast's revenue model combines upfront hardware sales (US$25,000-69,800 ASP range), battery-as-a-service subscriptions reducing upfront cost by up to 20%, e-scooter/e-bike sales (Q1 2026 deliveries up 219% YoY), after-sales services and parts, and direct V-Green charging revenue. Distribution is hybrid: direct-to-consumer e-commerce reservation via shop.vinfastauto.us plus VinFast-owned 1S/2S/3S stores in the US, supplemented by authorized dealer networks (75 dealerships by end-2026 in India, 30+ in the Philippines, six Indonesian e-scooter distributors) and enterprise fleet sales via MoUs with Vingroup's Green SM ride-hailing (1M EV/4M two-wheeler commitment through 2030), RouteMatic (400+ EV fleet in India), and PT Sembilan Benua Abadi / PT Satu Kosong Tujuh (10,000-EV commitments each in Indonesia). FY2025 revenue reached US$3.6B (up 105.4% YoY) on 196,919 EV deliveries, though the company reported a US$3.9B net loss with EBITDA breakeven not targeted until 2027-2028, and announced a May 2026 plan to spin off its Vietnam manufacturing assets for ~US$530-642M to pursue an asset-light model.

Name

VinFast

Legal name

VinFast Auto Ltd.

Website

https://vinfastauto.us

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

VinFast is a Vietnamese-origin electric-vehicle manufacturer (Nasdaq: VFS) selling passenger EVs, e-scooters, and e-bikes to mass-market consumers and fleet operators across Southeast Asia, India, the US, and Europe via direct-to-consumer and dealer channels. The company combines NVIDIA-based ADAS, battery-swap infrastructure, and integrated V-Green charging under the Vingroup conglomerate umbrella.

Ownership category

akta.pro rank

Product category

Electric Vehicles

NAICS

Automobile and Light Duty Motor Vehicle Manufacturing (33611), Motorcycle, Bicycle, and Parts Manufacturing (336991), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

SIC

Motor Vehicle Parts & Accessories (3714), Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Vehicle OEM & Tier-1 V2G Enablement (Telematics, Vehicle Energy APIs) (EUAFAMAM)

akta.pro secondary industries

E-Mopeds & Light Electric Motorbikes (Consumer) (CRACASAG), Micro-Mobility & Two-/Three-Wheeler Fleet Leasing/Subscription (E-bikes, E-scooters, E-motorcycles) (TLABAHAI), Free-Floating Carsharing (One-Way) (TLAFAMAB)

Keywords

• Electric vehicles
• EV manufacturing
• Battery swapping
• Charging infrastructure
• Smart mobility

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Electric Vehicle Sales: Primary revenue stream from sales of electric vehicles (VF 5, VF 6, VF 7, VF 8, VF 9, VF MPV 7, Limo Green, Nerio Green, Herio Green, Evo200, Feliz, Viper). Includes both consumer direct-to-consumer sales and fleet/B2B sales. Pricing per vehicle ranges from ~$25,000 (Indonesia VF MPV 7) to $69,800 (US VF 9 AWD).
2. Battery Subscription Program: Battery-as-a-service subscription model where customers purchase the vehicle without the battery and pay a monthly fee; VinFast covers battery maintenance and replacement when battery state of health drops below 70%. Available in Philippines, Vietnam, and other markets; reduces upfront ownership costs by up to 20%.
3. E-Scooter and E-Bike Sales: Sales of electric scooters (Evo, Feliz II, Viper, Flazz) and e-bikes (DrgnFly). Delivered 143,136 e-scooters and e-bikes in Q1 2026 (up 219% YoY); rolled out 1-millionth electric scooter cumulatively. E-scooter markets targeted in Philippines, Indonesia, India, Thailand, Malaysia.
4. Financing Services Revenue (via Partnerships): Auto and inventory financing solutions for dealers and customers through partnerships with banks (CSB Bank, Bank of Baroda, Shriram Finance, Tata Capital, Maybank, HDFC) — facilitates vehicle sales without being direct lender, enabling wider customer accessibility.
5. Charging Infrastructure Revenue (V-Green): Revenue from V-Green, VinFast's EV charging infrastructure subsidiary, operating battery-swapping stations and charging networks globally; targeted to exceed 1.5 million charging ports globally. Includes revenue from charging services and roaming/access fees.
6. After-Sales Service and Parts: Revenue from authorized service centers, parts distribution (e.g., 3,975 sq-m DHL-operated parts hub in Philippines storing 80,000+ parts), maintenance packages (3 years free maintenance in India), and extended warranty programs across 1,100+ workshops globally by 2026.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels8 records

Core offering

VinFast designs, manufactures, and sells a full lineup of electric passenger vehicles (VF 5, VF 6, VF 7, VF 8, VF 9, VF MPV 7), commercial EVs (Limo Green, Nerio Green, Herio Green), swappable-battery e-scooters (Evo, Feliz II, Viper, Flazz), and the DrgnFly eBike. The vehicles are supported by an integrated ecosystem including V-Green charging and battery-swapping infrastructure, battery-as-a-service subscription programs, mobile app, in-cabin AI, and partner-enabled financing.

Product overview

VinFast operates as a unified electric-vehicle and smart-mobility platform with a tiered multi-brand product lineup spanning A through E vehicle segments, supported by an integrated ecosystem of charging infrastructure (V-Green), battery-as-a-service subscription programs, mobile software (VinFast App), and in-cabin AI (Cerence voice assistant + Amazon Alexa). The core passenger EV portfolio consists of the subcompact VF 5, compact VF 6, mid-size VF 7 and VF 8 (flagship U.S. model), full-size VF 9, and the seven-seater VF MPV 7 / Limo Green commercial MPV, complemented by earlier-generation models (VF e34, VF 3) and the upcoming ultra-luxury Lac Hong 800S/900S concepts. The two-wheeler lineup (Evo, Feliz II, Viper, Flazz) extends the brand into swappable-battery e-scooter markets across Southeast Asia and India, while the DrgnFly eBike provides a lower-entry electric-mobility offering in the U.S. Autonomous-driving capability is delivered through a strategic partnership with Autobrains (Agentic AI) running on the NVIDIA DRIVE Hyperion platform, targeting Level 4 autonomy in Southeast Asia.

Differentiator

Problem solved

Functional benefit

Brands

• V-Green: EV charging infrastructure arm of Vingroup/VinFast developing charging and battery-swapping networks (partnerships with HPCL, ChargeZone, PlusX Electric, Hindustan Petroleum) globally.
• Green SM (Green & Smart Mobility, GSM)
• Lac Hong
• DrgnFly

Quantifiable outcome

• Annual energy cost savings of ~$1,100 per EV vs gas vehicle (US average 1,200 mi/month)
• +5 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability13 records

Feature7 records

Partnerships

27 partnerships are on record, tiered core, flagship / core and minor.

• RouteMatic / Green SM (GSM)coreStrategic or Co-development Partner · 17 June 2026RouteMatic signed MoU with Vietnam-originated Green SM during India launch to deploy VinFast EVs (including Limo Green SUV) for corporate transportation in Bengaluru, Pune, Hyderabad, Chennai, and Delhi-NCR. GSM holds strategic supply agreement for 1 million EVs and 4 million e-two-wheelers from 2026-2030.
• NVIDIAflagship / coreStrategic or Co-development Partner · 31 May 2026Strategic collaboration with NVIDIA and Autobrains to develop next-generation Level 4 autonomous driving technology for Southeast Asian markets, built on the NVIDIA DRIVE Hyperion platform. VinFast part of NVIDIA's robotaxi-ready platform ecosystem announced at GTC Taipei alongside Foxconn, Uber, HUMAIN, and Autobrains.
• Foxconn, Uber, HUMAIN (NVIDIA DRIVE Hyperion Ecosystem)flagship / coreStrategic or Co-development Partner · 31 May 2026VinFast joins NVIDIA DRIVE Hyperion robotaxi-ready platform ecosystem with Foxconn, Uber, HUMAIN, and Autobrains to develop and deploy Level 4 autonomous vehicle fleets across Taiwan, Southeast Asia, Europe, and the Middle East.
• ChargeZonecoreStrategic or Co-development Partner · 28 May 2026V-Green and ChargeZone partnered to develop shared charging network for VinFast vehicles in India, launching first station on May 28, 2026 in Vadodara, Gujarat. 15 co-branded stations operational with plans for ~100 additional stations over six months across major cities and highway corridors.
• 29 International Aftersales Partners (India, Indonesia, Philippines, Kazakhstan)coreChannel Partner/ Reseller/ Distributor · 23 May 2026VinFast signed MoUs with 29 after-sales partners at its 2026 Global Business Conference in Vietnam (May 4-10, 2026) to open 68 new service workshops globally as part of strategy to reach 1,100+ workshops worldwide by 2026.
• Wheeltek Motor Sales CorporationcoreChannel Partner/ Reseller/ Distributor · 18 April 2026Philippines e-scooter dealer partner in MoU with 14 distributors for nationwide retail network; part of June 2026 product launch; supports distribution of swappable-battery e-scooter models Evo, Feliz II, and Viper.
• Gentrade International Phils. Inc.minorChannel Partner/ Reseller/ Distributor · 18 April 2026Philippines e-scooter MoU dealer partner; brings extensive motorcycle business experience across Metro Manila, Metro Davao, Metro Cebu.
• Superbikes CorporationminorChannel Partner/ Reseller/ Distributor · 18 April 2026Philippines e-scooter MoU dealer partner for distribution of swappable-battery models ahead of June 2026 product launch.
• Motoxpress Sales CorporationminorChannel Partner/ Reseller/ Distributor · 18 April 2026Philippines e-scooter MoU dealer partner for nationwide retail network expansion.
• TensorminorStrategic or Co-development Partner · 23 March 2026Strategic partnership with Tensor for the world's first personal Level 4 Robocar showcased at European AV Summit; supports production slated for 2026 across UAE, EU, and US markets alongside partners NVIDIA, Marsh, Oracle, and Arm.
• PT. IB Motor, PT. Sentrik, PT. Axara Marani, PT. Sukses Sejati Indonesia, PT. Tangguh Inti Motor, PT. Kiki Motor PersadacoreChannel Partner/ Reseller/ Distributor · 6 March 2026VinFast signed MoUs with six Indonesian e-scooter dealers ahead of Q2/2026 product launch; showrooms planned across Jabodetabek, West Java, East Java, and Bali distributing VinFast Flazz, Evo, Feliz II, and Viper with V-Green battery swapping stations.
• PT. Satu Kosong TujuhcoreStrategic or Co-development Partner · 6 March 2026Indonesian transportation provider signed MoU for planned supply of 10,000 VinFast EVs by end of 2028, including Nerio Green and Limo Green models for commercial transportation services.
• PT Sembilan Benua AbadicoreStrategic or Co-development Partner · 6 March 2026Indonesian transportation provider expected to purchase 10,000 VinFast EVs (Nerio Green and Limo Green) by end of 2027 for green mobility and operational efficiency in commercial transportation.
• DHLcoreImplementation/ SI/ Consulting Partner · 5 March 2026VinFast Philippines partnered with DHL to open 3,975 sq-m parts distribution center in Santa Rosa, Laguna, storing over 80,000 vehicle parts with 24-hour delivery turnaround within Metro Manila and covering Visayas and Mindanao.
• PlusX ElectriccoreTechnology or Integration · 25 February 2026VinFast Middle East signed MoU with PlusX Electric (DEWA-approved EV charging provider in UAE) for portable EV charging pods, on-demand mobile charging services, EV roadside assistance, and home/office charger installation; part of broader UAE charging network expansion.
• Exposure SARLminorStrategic or Co-development Partner · 11 February 2026Congolese partner signed MoU for potential supply of VinFast Limo Green and Herio Green models for electric taxi services in Kinshasa, Democratic Republic of Congo; also interested in becoming VinFast distributor. Implements 2025 strategic cooperation framework between Vingroup and City of Kinshasa.
• OneFii TechnologiesminorOEM/ Whitelabel/ Licensing Partner · 10 February 2026OneFii Technologies launched transportation program offering vehicles from Kia, Hyundai, VinFast, and Chevrolet through single monthly payments including insurance, with no down payment, no loan, no credit check, no interest, and no dealer fees.
• Autobrainsflagship / coreStrategic or Co-development Partner · 27 January 2026VinFast and Autobrains announced strategic partnership to develop L2++ autonomous driving technology and a Robo-Car system using AI and seven standard cameras instead of LiDAR/radar. The system is undergoing pilot testing on VF 8 and VF 9 in Hanoi with plans to expand internationally.
• ProLogium TechnologycoreStrategic or Co-development Partner · 6 July 2022VinFast invested tens of millions USD and entered MoU with ProLogium to secure next-generation solid-state battery supplies starting 2024; plans to jointly develop battery pack designs and possibly establish a joint-venture solid-state battery factory in Vietnam.
• Amazon (Alexa)coreTechnology or Integration · 14 April 2022VinFast announced plans to integrate Amazon Alexa voice experience into VF 8 and VF 9 all-electric SUVs beginning 2022. Alexa enables in-vehicle control of lighting, seat heaters, cabin temperature, music, navigation, smart home devices, with new features delivered via OTA updates.
• Electrify AmericacoreTechnology or Integration · 13 April 2022VinFast and Electrify America (largest open ultra-fast charging network in US) announced agreement providing VinFast EV owners two complimentary charging sessions and access to Electrify America's coast-to-coast network via VinFast mobile app; supports 150kW and 350kW chargers; 800 charging stations and ~3,500 chargers.
• EDF GroupcoreStrategic or Co-development Partner · 4 November 2021VinFast France signed cooperation MoU with EDF Group for joint discussions on electric mobility offers including installation and operation of charging infrastructure, roaming charging pass, and electricity supply to VinFast and EDF customers. Signed in presence of Vietnamese Prime Minister.
• Cerence Inc.coreTechnology or Integration · 28 September 2021VinFast selected Cerence to power conversational AI across its smart EV lineup globally. Cerence's technologies (ASR, NLU, TTS, NLG, speech signal enhancement) enable VinFast's "Hey VinFast" voice assistant in 6 languages (English, German, French, Spanish, Dutch).
• Gotion High-TechcoreStrategic or Co-development Partner · 23 August 2021VinFast LLC signed MoU with Gotion High-Tech (China) for procurement of LFP batteries and discussion of establishing a Giga Factory — the first-ever LFP battery cell production facility in Vietnam. Joint R&D and production of lithium iron phosphate batteries.
• RepairWisecoreImplementation/ SI/ Consulting PartnerRepairWise has become an authorized VinFast service provider in the United States, expanding service accessibility for customers nationwide through its digital-first platform and independent service network.
• V-Green (Vingroup charging subsidiary)flagship / coreStrategic or Co-development PartnerV-Green is VinFast's EV charging infrastructure subsidiary developing comprehensive charging and battery-swapping stations globally, with target of exceeding 1.5 million charging ports globally; partner with Hindustan Petroleum Corporation Limited (HPCL) for nationwide India deployment and ChargeZone for India charging network.
• Hindustan Petroleum Corporation Limited (HPCL)coreStrategic or Co-development PartnerV-Green partnered with HPCL to deploy EV charging stations across HPCL's nationwide fuel station network in India; enables broad charging access via existing fuel infrastructure.

Scale indicators15 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• NIO: Chinese premium EV maker with a battery-swap network and subscription-based battery service — the closest analog to VinFast's V-Green battery-as-a-service and Green SM ride-hailing ecosystem. NIO's premium positioning and BaaS revenue model directly parallel VinFast's strategy.
• BYD: World's largest EV maker and most direct cost competitor. BYD competes across price segments VinFast targets (USD 25K–70K), is expanding aggressively into Southeast Asia and India, and operates a vertically integrated battery-plus-vehicle model analogous to VinFast's Vingroup ecosystem.
• Rivian: US-listed EV startup building premium electric SUVs and trucks (R1S, R1T) plus a commercial delivery van (EDV) — a comparable profile to VinFast's premium SUV family and emerging B2B fleet strategy. Both are capital-intensive growth-stage EV OEMs competing for the same US/European premium segments.
• Tesla: Global EV leader and the benchmark direct competitor. Tesla's mass-market Model Y/3, growing energy generation/storage business, and Level 2+ ADAS via Autopilot/FSD overlap directly with VinFast's VF 6/7/8/9 lineup, software strategy, and charging integration.
• Polestar: Premium EV brand (Geely-owned) selling the Polestar 2/3/4 SUVs globally. Polestar occupies the same premium EV niche as the VinFast VF 8 and VF 9, with similar design-led branding and a comparable US/European dealer-plus-direct sales model.
• XPeng: Chinese smart-EV maker with mid-size SUVs (G6, G9) and ADAS ambitions. XPeng competes with VinFast in Southeast Asia and shares the strategy of pairing advanced driver assistance with mass-market pricing.
• Lucid Motors: US-listed luxury EV maker with the Air sedan and Gravity SUV. Lucid competes directly with the VinFast VF 9 in the premium long-range segment and faces similar challenges of heavy capex, scaling production, and reaching profitability.

Broad incumbents

• Geely Auto Group: Chinese auto conglomerate owning Polestar, Zeekr, Lynk & Co., and Volvo. Geely's multi-brand EV strategy, Indonesia/SEA manufacturing presence, and battery investments directly mirror the multi-brand Vingroup/VinFast approach.
• Hyundai Motor Group: Mass-market incumbent with the Ioniq 5/6, Kia EV6/EV9, and aggressive US plant build-out. Hyundai's pricing, IRA-eligibility, and proven EV economics make it the most formidable incumbent competitor to VinFast's US and Indian market plans.

Regional players

• Tata Motors: India's largest domestic automaker and dominant EV player (Tata Nexon EV, Punch EV, Tiago EV). Tata is VinFast's primary competitor in the Indian passenger EV market where VinFast launched the VF 6, VF 7, and VF MPV 7; it controls local pricing, supply chain, and dealer footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/VinFastUS
• YouTubeyoutube.com/channel/UCVIbY8CbGjPusSau9kjJMyA
• Facebookfacebook.com/VinFastUS
• LinkedInlinkedin.com/company/vinfast-us
• Instagraminstagram.com/vinfastus

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments

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

Frequently asked questions about VinFast