VinFast (VFS)
Builds electric vehicles, scooters and buses bundled with charging and ride-hailing across Vietnam.
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Designs and manufactures electric cars, e-scooters and buses, selling mostly in Vietnam alongside a related ride-hailing and charging network under the same ownership group. Assembly plants in India and Indonesia extend production beyond Vietnam, while operations remain funded chiefly by the founder and parent conglomerate rather than by profit.
Manufactures battery-electric cars, e-scooters and buses, having ended combustion-engine production in 2022 to become a pure-play EV maker. Its home market, Vietnam, accounts for nearly all of its EV sales, where it holds a dominant share of new battery-electric registrations.
Sales lean heavily on Xanh SM, an all-electric ride-hailing operator owned by the same founder, and on a VinFast-exclusive charging network built inside the same ownership group — a bundled model that anchors Vietnamese demand but concentrates buyers within a single corporate family.
Assembly has opened in India and Indonesia as manufacturing anchors outside Vietnam, while a planned US plant in North Carolina has faced repeated delays.
The company is structurally loss-making and relies on continuing grants and loans from its founder and parent conglomerate, Vingroup, whose support underpins the going-concern assessment in its audited filings.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 9, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $8 | Target: $5 |
| Apr 25, 2025 | BTIG | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $302.3M · Total debt $3.53B · Total assets $7.12B · Shareholders' equity −$7.36B
- Revenue
- $888.4M
- Operating income
- −$878.9M
- Net income
- −$1.08B
Reported in VND, converted at the latest exchange rate
No dividends on record.
| Institutions | 0.16% | 3.80M shares | |
|---|---|---|---|
| 36 holders · as of Jun 30, 2026 | |||
| Insiders | 97.88% | 2.29B shares | |
| 3 holders · as of Mar 24, 2026 | |||
| Other | 1.96% | 45.85M shares | |
| remainder | |||
2.34B company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Pham Nhat Vuong1Insiderdirector, 10 percent owner, officer: Chief Executive Officer | 97.82% | 2.29B | filed Dec 31, 2023 |
Geode Capital Management, LLCInstitution | 0.09% | 2.08M | as of Jun 30, 2026 |
Thi Thu le ThuyInsiderdirector | 0.05% | 1.20M | filed Mar 24, 2026 |
Toroso Investments, LLCInstitution | 0.02% | 433,985 | as of Jun 30, 2026 |
Lazard Asset Management LLCInstitution | 0.01% | 187,493 | as of Jun 30, 2026 |
- Pham Nhat Vuong's transaction reports restate only vehicles that traded; the 2024 ownership statement (2.29B) is used instead.
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| VinFast | $3.36 | −0.74% | $7.91B | — | — | 2.1 | +111.3% |
| Toyota Motor (ADR) | $191.94 | −0.29% | $227.96B | 8.5 | 14.6 | 0.7 | +1.4% |
| Tesla | $377.17 | +0.50% | $1.48T | 347.5 | 183.0 | 14.3 | +25.5% |
| Median | 178.0 | 98.8 | 7.5 | +13.5% |