VinFast Auto Posts Gross Loss In FY23

(RTTNews) - VinFast Auto Ltd. (VFS) posted a gross loss of $551.6 million in fiscal 2023. Loss per share was $1.04 compared to a loss of $0.91. The company delivered a total of 34,855 electric vehicles, a 374% increase compared to the previous year. Total revenues were $1.20 billion, an increase of 91% from 2022.

Fourth quarter gross loss was $174.9 million. Loss per share was $0.28, flat with prior year. Revenue was $437 million, an increase of 133% year-over-year.

VinFast targets delivery of 100,000 vehicles in fiscal 2024.

VinFast Auto Ltd. is a subsidiary of Vingroup JSC, and Vietnam's leading electric automotive manufacturer.

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