AdvertisementAdvertisementVehicles being constructed on an automated production line at the VinFast electric automobile plant in Haiphong. (Photo: AFP/Nhac Nguyen)10 Jun 2025 12:59AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST HANOI: Vietnam's first homegrown car manufacturer Vinfast on Monday (Jun 9) said it recorded net losses of US$712 million in the first quarter of the year despite more deliveries.The communist nation's electric vehicle (EV) firm is aiming to compete with global giants such as Tesla, but has struggled to break into the international market.The company said Monday it delivered 36,330 EVs in the first three months of the year, representing a year-on-year increase of 296 percent.Commentary: Vietnam’s Trump card in trade negotiations with the USTotal revenues were US$656.5 million, up by almost 150 per cent from the same period in 2024.Vinfast Chairwoman Thuy Le said the increase in deliveries represented an "encouraging start to 2025 amid ongoing global uncertainties".Last year, the company's net loss was over US$3 billion despite almost tripling deliveries of its cars.Vietnam sends document responding to US trade requestsCommentary: Has China’s great relocation helped Southeast Asia industrialise? Global trade has been disrupted by a tariff blitz launched in April by US President Donald Trump.Hanoi said last week it was making progress in talks with Washington to head off Trump's threatened 46 per cent levy against export-reliant Vietnam.VinFast's parent company Vingroup is hugely powerful in Vietnam, and its business interests span everything from healthcare to real estate and education to tech.Source: AFP/fsNewsletterMorning BriefSubscribe to CNA’s Morning BriefAn automated curation of our top stories to start your day.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST