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VinFast Targets Break-Even Next Year; Vingroup Outlines Growth Plans Vietnamese electric vehicle maker VinFast is on track to achieve break-even next year, according to Vingroup Chairman Pham Nhat Vuong, who confirmed earlier reports during a shareholder meeting.
The company expects to deliver around 300,000 electric vehicles this year, with nearly two-thirds of sales coming from the domestic market. Vuong also reiterated that VinFast will not return to producing internal combustion engine (ICE) vehicles, maintaining its full focus on electric mobility.
Meanwhile, Vingroup is preparing to launch an initial public offering (IPO) for its taxi service unit Green SM in 2028. The group is also planning to convert its proposed LNG power plant project in Haiphong into a renewable energy-based facility.
Vingroup has set an ambitious net profit target of 35 trillion dong for this year, significantly higher than last year’s 11.1 trillion dong, reflecting its aggressive growth strategy.
