VinFast’s Losses Widen Even as Revenue Jumps on Rising Sales

Vietnamese electric vehicle maker VinFast Auto Ltd.’s fourth-quarter loss widened as costs associated with its global expansion, including planned factories in India, Indonesia and domestically, rose.

The company reported a net loss of about $1.26 billion in the final three months of 2024, 131% wider than the third quarter and 81% from a year ago, according to an exchange filing. While revenue from accelerated vehicle deliveries jumped 33.8% quarter-on-quarter to $677.9 million, that wasn’t enough to offset rising costs of sales and operations.