(Reuters) -Vietnam’s VinFast reported a sharp rise in third-quarter revenue on Friday, bolstered by strong sales of its electric cars and bikes, with the company riding on the growth to fuel expansion.
The company signed two loan facilities during the period, totaling $250 million, as it looks to ratchet up its ambitious growth strategy and expand internationally even amid tariff pressures and subdued demand in the United States.
Still, taking on additional debt could hammer the loss-making company’s margins at a time when it works aggressively to cut costs by shifting to a dealership-based model and optimizing its supply chain.
VinFast’s third-quarter revenue rose around 47% to $718.6 million from a year ago.
E-scooter and e-bike deliveries soared 535% in the quarter after Hanoi announced plans to ban petrol-powered motorbikes in the city center starting in mid-2026.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju Samuel)
