As the newest player entering the global electric vehicle market, VinFast experienced significant expansion in 2025, doubling its year-over-year sales volume. The Vietnamese all-electric car manufacturer is rising to meet their commitment under the Zero Emission Vehicles (ZEV) Declaration, witnessing a period of rapid scaling. Vinfast’s highest-ever annual deliveries demonstrate real-world progress in accelerating the global transition to zero-emission transportation.
Record-breaking domestic sales fuel rapid market growth
Within Vietnam, VinFast has grown into the country’s largest domestic producer, capturing a over a third of the car market last year and surpassing historic leaders including Toyota and Hyundai. The company delivered a record-breaking 175,099 EVs domestically, nearly doubling its production from 2024.
The strategic rollout of highly accessible, mass-market models largely fueled this success, which allowed them to quickly dominate sales across multiple segments in 2025. By targeting high-volume categories, ranging from compact city cars to larger family vehicles, the company rapidly captured significant market share from legacy automakers. This growth is further anchored by fleet demand from their sister company, Green and Smart Mobility (GSM), whose electric taxi and ride-hailing service ensures a stable, high-volume revenue stream and consistently drive-up total delivery numbers.
Global manufacturing expansion and strategic partnerships take center stage
VinFast is translating its domestic success into an ambitious global expansion. In 2025, they delivered 196,919 EVs to external markets, accounting for a 102% year-over-year increase and exceeding their target to double deliveries from 2024. Their momentum signals a maturing and increasingly robust ZEV ecosystem taking root across the broader ASEAN region.
A major new manufacturing facility in Tamil Nadu, backed by an initial $500 million investment, enabled the swift rollout of their premium VF6 and VF7 models in late 2025. This rapidly propelled VinFast to become India’s fourth-largest EV player within just four months of its launch.
Following this entry to India, the company also inaugurated its $300 million EV plant in Subang, Indonesia last December, boosting an annual production capacity of 50,000 vehicles. Recently in March 2026, VinFast further cemented their Indonesian presence by partnering with major dealers to launch a nationwide e-scooter distribution network and signing agreements to supply 20,000 EVs to local transportation partners by 2028.
These global expansions are supported by VinFast’s sister company, V-Green, which is actively deploying charging infrastructure across the region. Alongside a $300 million investment to build over 60,000 charging points in Indonesia, the company is rapidly establishing a regional green mobility ecosystem in the Philippines. They plan to enter strategic agreements with local partners to offer EV financing, alongside a rapid rollout of charging stations across the country’s major retail networks.
An emerging market player leading the EV charge
The entire VinFast ecosystem benefits from highly supportive government policies in Vietnam, a testament to how predictable regulatory environments can encourage corporate growth. While established markets like the United States and Europe are following more gradual EV adoption curves, with 9% and 27% EV market shares respectively in 2025, Vietnam’s EV market share surged to almost 40%, outpacing the European average and trailing only China (52%) among major global markets.
This leapfrog effect is driven by Vietnam’s 2022 Action Program on Green Energy Transition, which targets 100% electrified road transport by 2050, alongside fiscal incentives that create immediate cost parity with internal combustion vehicles. To maintain this momentum, the government recently extended waivers on registration fees for new battery-electric vehicles until 2027. Furthermore, under the Special Consumption Tax, these vehicles enjoy a preferential rate of just 1-3% through early 2027. These policies are further bolstered by new 2026 proposed electricity price subsidies for EV charging stations, ensuring that EV ownership becomes more affordable for Vietnamese consumers.
Looking ahead, VinFast has announced an ambitious global delivery target of 300,000 electric vehicles for this year. By strategically deploying highly accessible models alongside comprehensive policies supporting domestic production and international collaborations, VinFast is demonstrating the potential for a rapid ZEV transition. This trajectory provides a compelling model for other emerging economies seeking to accelerate their transition to zero-emission transportation on a global scale.
