VinFast Kicks Off Production at Ha Tinh Plant as Global Expansion Stalls

Vietnamese EV maker VinFast (NASDAQ: VFS) has begun output at its second domestic factory in Ha Tinh province, adding 200,000 units of annual capacity. This launch underscores VinFast’s push to reach 1 million vehicles per year, even as its ambitious overseas plans face delays.

---

1. Scaling Up Domestic Production

VinFast’s new 36‑hectare Ha Tinh facility joins the flagship Haiphong plant, which targets 950,000 units by next year. CEO Nguyen Viet Quang noted that Ha Tinh “will contribute” toward the 1 million–unit annual goal for meeting both local and export demand. With 56,000 units sold domestically in the first five months, Ha Tinh’s ramp is critical for hitting the 200,000 delivery target set for 2025.

---

2. Global Ambitions and Setbacks

Backed by Vingroup, VinFast aims to build plants in the U.S., India, and Indonesia, but has pushed its U.S. facility to 2028 amid softer demand and fierce competition. Its India assembly plant is slated to start next month—a key test of cost competitiveness. Until overseas capacity comes online, Ha Tinh and Haiphong will bear the load.

---

3. Financial Performance: Loss Narrowing, Revenue Leaping

VinFast reported a Q1 net loss of $712.4 million, narrower than the prior quarter’s $1.3 billion loss but up 20% YoY, while revenue surged 150% to $656.5 million.

To financialmodelingprep.com/developer/docs#company-rating-company-information">Company Rating & Information API and watch margin expansion in the Ratios TTM Statement Analysis API, which updates trailing‑12‑month profitability and leverage metrics in real time.

---

4. Tactical Takeaways & Risk Controls

Strategy	Signal	Risk Control
Production Ramp Trade	Ha Tinh output > 50k units/month	Hedge with puts if ramp lags
Loss‑Narrowing Play	Q2 net loss improvement > 10% QoQ	Exit on widening loss trend
Revenue Momentum	Revenue growth > 20% YoY in Ratios API	Trim on miss below 15% YoY
Global Expansion Theme	Delay announcements for U.S./India plants	Short on negative update; stop on positive revisions

---

VinFast’s Ha Tinh factory is a milestone in its domestic scaling—but overseas execution will define whether it can sustain this growth trajectory. Combine this operational insight with API‑driven analytics to stay ahead of VinFast’s next moves.