Op-Ed: "Wild East" Gamble: Why VinFast is Burning Cash to Reach the Stars - CleanTechnica

The article from CleanTechnica discusses VinFast’s aggressive and financially risky expansion strategy, particularly focusing on its push into the U.S. electric vehicle (EV) market and its surprising investment in space exploration through a new venture called VinSpace Joint Stock Company. Despite the lack of audited financial reports, VinFast continues to burn significant cash, reminiscent of Tesla’s early years, with the intent of dominating the global EV market in the long term. The company’s bold approach includes innovative marketing efforts, such as a residual value program in Southeast Asia and a strong presence at major U.S. EV events, despite some setbacks like negative press around its VF8 model. VinFast’s financials reveal rapid growth in production and sales: in the first half of 2025, it delivered over 72,000 EVs—a 223% increase year-over-year—and more than 114,000 two-wheelers, up 447%. Revenue for Q2 2025 nearly doubled to $663 million compared to