VinFast has announced an exceptional quarter, delivering 53,139 electric vehicles (EVs) globally in Q4 2024. This marks a 143% increase quarter-over-quarter and an impressive 342% growth year-over-year, surpassing its 2024 global sales target and reinforcing its leadership in Vietnam while setting the stage for continued international expansion.
Fueled by rising demand for affordable EVs and its strong domestic presence, VinFast achieved record-breaking monthly deliveries throughout Q4. By year-end, the company had delivered 97,399 EVs globally—representing a 192% year-over-year growth and exceeding management’s revised target of 80,000 vehicles.
Looking ahead to 2025, VinFast aims to at least double its global deliveries, building on its strong momentum and expanding market reach.
In January 2025 alone, VinFast delivered over 10,000 EVs in Vietnam. The VF 3 emerged as the best-selling model with over 4,000 units sold, followed by the VF 5 at 3,300 units.
VinFast’s success extended beyond EVs, with 31,170 e-scooters and e-bikes delivered in Q4 2024—a 65% increase quarter-over-quarter and 41% growth year-over-year. For the full year, e-scooter and e-bike deliveries totaled 70,977, reflecting a stable 1% year-over-year increase.
Leadership Perspective
Madam Thuy Le, Chairwoman of VinFast, stated:
“VinFast’s outstanding performance in 2024 demonstrates our resilience amid market fluctuations and economic challenges. Our record-breaking achievements reinforce the unstoppable momentum of EV adoption. As we enter 2025, we remain steadfast in our commitment to driving the green transportation revolution with our innovative and diverse all-electric lineup. Despite market uncertainties, we believe electrification is the future, and VinFast is determined to lead this transformation.”
Vietnam’s Growing EV Market
Vietnam played a crucial role in VinFast’s success in 2024. To accelerate the country’s green transition, VinFast introduced strategic incentives and collaborated with local governments, organizations, and businesses on campaigns such as “Fierce Vietnamese Spirit – For a Green Future” and “For a Green Capital.”
These initiatives helped VinFast become the first all-electric automaker to dominate Vietnam’s automotive market, surpassing both domestic and international competitors. Vietnam now stands among the few markets worldwide where a pure EV manufacturer leads in sales.
Global Expansion and Strategic Growth
Beyond its domestic success, VinFast made significant strides in global expansion in 2024. By incorporating a dealership distribution model alongside its direct-to-customer approach, the company strengthened its market presence. Key highlights include expansion into high-growth regions such as the Middle East, India, and the Philippines, along with the development of a comprehensive “For a Green Future” ecosystem in Indonesia.
Meanwhile, VinFast reinforced its foothold in established markets across North America and Europe. These strategic initiatives provide a strong foundation for continued global breakthroughs in 2025.
With a strong 2024 performance and an ambitious growth trajectory, VinFast is poised to redefine the future of electric mobility worldwide.
