VinFast Reports 1.34 Billion Dollar Fourth Quarter Loss
The Vietnamese electric vehicle maker reported a net loss of 35.2 trillion dong for the fourth quarter. This follows heavy spending on regional expansion.
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The electric vehicle sector in Vietnam is seeing continued capital-intensive growth as VinFast Auto Ltd. reported a wider net loss for the fourth quarter. The company is currently prioritizing a massive expansion of its manufacturing footprint to capture growing demand across major Southeast Asian markets.
Financial data released on Monday shows that the automaker incurred a loss of 35.2 trillion dong, or approximately $1.34 billion. This figure is a notable increase from the 30.59 trillion dong loss recorded during the same period in the previous year.
