VinFast Auto Ltd. Ordinary Shares

Green and Smart Mobility, the Vietnamese electric taxi operator linked to VinFast Auto Ltd. and billionaire founder Pham Nhat Vuong, plans to put cars on the road in the US, Sweden and the Netherlands by year-end and expand into more European markets in 2027, Reuters reported on September 3, 2026. The buildout is meant to happen ahead of GSM's planned 2028 initial public offering in Hong Kong, for which advisers have suggested a roughly $20 billion valuation. The news comes the same week Reuters reported VinFast suspended plans to assemble some electric vehicles in India and faces a US lawsuit over delays at a subsidized plant. GSM buys every vehicle it operates directly from VinFast, often at a discount, giving the automaker a captive sales channel as it expands abroad. VinFast's global EV deliveries reached 70,085 vehicles in the second quarter, up 96% year over year, while first-half deliveries rose 78% to 128,662 vehicles.

VinFast has signed preliminary agreements with 13 dealers in the Philippines to establish a total of 27 new showrooms across the country, part of the Vietnamese automaker's goal of reaching 60 dealerships nationwide by the end of 2026. The 27 new showrooms are expected to be built by the end of the year across key regions including Luzon, the Visayas, and Mindanao, with the dealers focusing on major urban areas such as Manila and Cebu while also targeting high-potential markets including Cagayan de Oro, Tacloban, and Subic Bay. VinFast sold a total of 3,800 vehicles in the Philippines in the first seven months of 2026, making it one of the country's leading battery electric vehicle brands, and the company said the network expansion will improve customer access to sales and servicing operations. The 13 dealers supporting the expansion include Elite North Auto Cars Inc, MG Gateway Mantrade Corp, Grand Canyon Multi Holdings Inc, Britannica United Motors Inc, VF Auto Sto Tomas Inc, GR8 Marketing Motors Inc, ARCMA Motors Corp, Autonomics Motor Corp, Gershom Car Trading Corp, Areza Motor Sales Inc, Central Auto Resources Inc, Autolink Global Motors Inc, and Greenport Mobility Inc. VinFast Southeast Asia's CEO, Antonio Zara, said the Philippines is one of the key markets in VinFast's long-term growth strategy in the region and globally, and that the company is focused not only on expanding its sales network but also on building a sustainable foundation for growth spanning products, services, infrastructure, and the broader EV ecosystem.

Vietnam's new vehicle market fell 13% in August to 18,891 units from 21,688 units a year earlier, according to wholesale data from the Vietnam Automotive Manufacturers Association, a figure that excludes major players such as VinFast, Hyundai, Mercedes-Benz and Nissan. For the first eight months of 2026, the market expanded 8% to 193,898 units from 178,834 units a year earlier, helped by GDP growth of 8.4% year on year in the second quarter. Light passenger vehicle sales rose 7% year-to-date to 129,934 units and commercial vehicle sales rose 12% to 63,964 units. Truong Hai sales rose 8% to 60,124 units, Toyota was up 14% to 47,043 units and Mitsubishi jumped 32% to 28,042 units, while Ford fell 9% to 26,603 units and Honda dropped 10% to 14,435 units. VinFast separately reported a 72% surge in domestic battery electric vehicle sales to 154,703 units year-to-date, and GlobalData expects total light vehicle sales in Vietnam to rise 10% to 617,000 units this year.

VinFast Auto has signed a preliminary agreement with Indonesian multi-brand vehicle dealer Gowa Motor Group to establish a new joint venture aimed at expanding the company's battery electric vehicle sales network across Indonesia. The memorandum of understanding marks an important milestone in VinFast's strategy to grow in one of Southeast Asia's most promising BEV markets. The joint venture will open at least 30 new showrooms and service centers in a first phase, strengthening VinFast's existing network of over 40 sales outlets in the country. VinFast aims to have more than 150 new vehicle outlets across Indonesia in the long term.

VinFast detailed its technology roadmap at the Bloomberg Sustainable Business Summit, emphasizing a phased approach to driver-assistance systems and localized manufacturing. Anne Pham, Vingroup's Head of International Capital Development, said current models operate at Level 2 ADAS, with next-generation vehicles planned to move toward L2+/L2++ capability, each phase tied to measurable safety validation rather than fixed launch dates. She highlighted manufacturing hubs in India and Indonesia that could become export hubs, and stated the company is on track to break even in Vietnam by 2027. Pham also noted U.S. sales plans remain on course, citing Wood Mackenzie analysis that oil market volatility could push EV adoption above base-case projections.

Global electric vehicle sales jumped 35% in the second quarter compared to the first quarter, according to the International Energy Agency, even as overall global car sales fell 5% year-over-year in the first half. The IEA raised its full-year forecast for EVs to 29% of all global vehicle sales, up from a prior 28% estimate, despite weaker demand in the United States and slower-than-expected growth in China. Five countries—Australia, Brazil, India, Korea, and Vietnam—saw EV sales more than double year-over-year in the second quarter. In Australia, Tesla and BYD are the top two players, while BYD dominates in Brazil where Tesla does not operate; India’s market is led by local player Tata Motors, South Korea’s top EV is the Tesla Model Y, and Vietnam’s leader is VinFast Auto. The surge in demand for battery-powered and plug-in hybrid vehicles coincided with rising gas prices in many markets due to heightened military action in the Middle East.

Jifeng Auto Parts announced that its holding subsidiary, Jifeng Seating Thailand, has received a nomination letter from VinFast Trading and Production Joint Stock Company, securing two passenger vehicle seat assembly projects. The two projects are expected to start mass production in August 2027 and September 2027 respectively, each with a project lifecycle of four years, and an estimated total lifecycle value of approximately 270 million yuan. These contract wins are for two premium seat assemblies for a leading overseas regional automaker, with the vehicle models positioned in the luxury segment, and the per-unit value significantly higher than traditional seat projects.

VinFast has announced a strategic partnership with akf-Bank to facilitate its sales growth in Germany. The jointly developed financing solutions are designed to meet the needs of dealers at different stages of growth, giving them greater flexibility while supporting the wider adoption of electric vehicles in Germany. Through the cooperation, VinFast dealers will gain access to akf-Bank's decades of automotive retail expertise, helping them finance vehicle inventory. Christian Marti, CEO of VinFast Europe, said Germany is one of the company's key European markets and a strong dealer network is fundamental to long-term growth. Rainer Bickel, akf-Bank Sales Director autofinanz, added that the bank wants to support VinFast dealers with needs-based financing solutions to successfully develop their business and actively shape the market ramp-up of electromobility in Germany.

VinFast Auto expects to reach break-even in its domestic market by 2027, with global profitability anticipated shortly afterwards, according to deputy CEO of investment Anne Pham. The Vietnamese EV maker's recently introduced VF 2 model, priced at VND188 million inclusive of battery, drew around 29,000 orders within three days of its early-July launch, bolstering domestic sales. VinFast delivered 115,916 vehicles in Vietnam during the first half of the year, a 72% rise year-on-year, and is aiming for global deliveries of at least 300,000 EVs in 2026, building on roughly 200,000 units sold in 2025. The company posted a net loss of VND28.1 trillion in the first quarter, 58.9% wider than a year earlier, amid rising costs tied to international expansion, and is currently in a legal dispute over its proposed North Carolina factory after the state filed a lawsuit in May. Pham declined to comment on US factory plans but said the North America sales strategy remains on course, while the company has established factories in India and Indonesia and remains open to acquisitions and partnerships.

VinFast Auto announced its domestic light passenger vehicle sales surged 58% year-on-year to 17,955 units in June 2026, up from 11,382 units in the same month last year. The company remains the main driver of growth in its domestic market while also leading sales of zero-emission vehicles. Sales were driven by strong demand for the Limo Green model, sold mainly as a taxi and for public transportation, as well as the VF3 and VF5 models for private use. In the first six months of the year, VinFast sold a total of 115,916 vehicles in Vietnam, a 72% increase from 67,569 units in the same period last year. The Green Limo was the best-selling model with 27,927 deliveries, followed by the VF3 with 23,781 units, the VF5 and Herio Green models with 20,167, the VF6 with 14,045, the MPV 7 with 9,177 units, and the VF7 with 6,849 units. Earlier this month, VinFast launched a new entry-level model, the VF 2, a small electric city car priced at US$7,150, with deliveries expected to begin in September.

Vietnam's new vehicle market declined by 6% to 24,356 units in June 2026 from 25,793 units a year earlier, according to wholesale data from the Vietnam Automotive Manufacturers Association. The figures exclude VinFast, Hyundai, Mercedes-Benz, Nissan and other overseas brands. In the first six months of 2026, the market expanded by 15% to 149,761 units, driven by strong economic growth that saw GDP accelerate to 8.4% year-on-year in the second quarter. Light passenger vehicle sales rose 12% to 100,321 units year-to-date, while commercial vehicle sales increased 20% to 49,440 units. VinFast separately reported a 72% surge in domestic sales to 115,916 vehicles in the first half, and GlobalData expects total light vehicle sales in Vietnam to rise 10% to 617,000 units this year.

VinFast delivered 58,577 electric vehicles worldwide in the first quarter of 2026, a 61% year-over-year increase, while also delivering 143,136 electric scooters and e-bikes, a 219% jump from the same period last year. The company maintained its position as Vietnam's top automotive OEM and ranked as the number one battery-electric vehicle brand in the Philippines, fourth in India, and eighth in Indonesia. VinFast is expanding its ecosystem beyond vehicle sales, growing its global retail network to 447 showrooms and collaborating with NVIDIA and Autobrains on a Level 4 autonomous driving program for Southeast Asia. In the U.S., the VF 8 Eco starts at $39,900 with incentives including 0% APR financing for up to 84 months, and the company offers a 10-year or 125,000-mile warranty along with access to about 95% of public EV charging stations.

VinFast is positioning its 10-year or 125,000-mile vehicle warranty and 10-year unlimited-mileage battery warranty as a key differentiator as electric vehicles move into the mainstream. The Vietnamese automaker, which captured nearly the entire domestic EV market in 2025 when almost 40% of new vehicles sold in Vietnam were electric, is expanding globally including in the United States. The warranty program ranks among the longest and most comprehensive available, reflecting the company's confidence in its vertically integrated approach to vehicle development. VinFast also offers access to approximately 95% of public charging stations across North America through app-based connectivity and roaming agreements. The strategy aims to address consumer concerns about long-term reliability and charging convenience as global EV sales surpassed 20 million units in 2025, according to the International Energy Agency.

VinFast Auto Ltd. reported first-quarter 2026 revenue of $920.7 million, a 41.7% increase from a year earlier, driven by a 61% surge in electric vehicle deliveries to 58,577 units and a 219% rise in e-scooter and e-bike deliveries. The company continues to lead the Vietnamese market while expanding in India, Indonesia, and the Philippines, and grew its global retail footprint to 447 showrooms with plans to scale its service workshop network to over 1,100 locations by the end of 2026. VinFast is prioritizing operational excellence and disciplined capital deployment, and has entered a strategic collaboration with NVIDIA and Autobrains to develop level 4 autonomous driving technology for complex traffic environments.

VinFast has launched its VF 8 electric SUV in the United States, emphasizing family-friendly features such as a spacious cabin, quiet ride, and advanced driver assistance systems. The VF 8 Eco starts at an MSRP of $39,900, while the VF 8 Plus is priced from $44,900, with 0% APR financing for up to 84 months and $4,100 in retail bonus cash available. The vehicle rides on a 116.1-inch wheelbase and includes acoustic insulation, double-layer glass, and a suite of ADAS features like Adaptive Cruise Control and Highway Assist. VinFast aims to attract families seeking a practical and affordable electric SUV in a competitive market.