Vietnam’s Vinfast has continued to haemorrhage money, reporting a loss in the first quarter of 2024 of US$618.3 million, according to a filing with the US Securities and Exchange Commission.

Key takeaways

It delivered 9,689 EVs;
This was down from 13,513 in the fourth quarter of 2024; with
50 percent of vehicle deliveries made to related parties (most Xanh GSM).
The firm’s net loss was VND 14,841,877 million or US$618.3 million.

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