(Reuters) -Vietnamese electric vehicle maker VinFast reported on Thursday a deeper quarterly loss due to rising costs linked to its overseas expansion and free charging programme aimed at attracting buyers.
VinFast reported a net loss of $1.3 billion in the fourth quarter of 2024, worsening from a $650 million loss a year ago and $773 million in the third quarter.
The quarterly loss was due to the free charging program, net realizable value and impairment of assets, according to the filing.
It reported a 70% jump in fourth-quarter revenue on Thursday, helped by higher deliveries of its electric vehicles. It said its total revenue was 16.49 trillion Vietnamese Dong ($633.82 million) in the quarter ended December 31, 2024, up 69.8% from a year earlier.
($1 = 26,017.0000 dong)
(Reporting by Akash Sriram in Bengaluru and Phuong Nguyen in Hanoi, Editing by Louise Heavens)
