EV Maker VinFast’s Rising Revenue Fails to Ease Widening Loss

VinFast Auto Ltd.’s growing revenue didn’t allay a widening loss in the first quarter as the Vietnamese EV maker faced rising costs tied to its global expansion plans.

The company reported a net loss of $712.4 million in the first quarter, a 20% increase from a year ago, it said in an exchange filing. While revenue rose about 150% to $656.5 million during the same period, it wasn’t enough to offset increasing costs of sales and operations.