Inside VinFast's Journey to 1 Million Electric Motorcycles and Its Next Growth Phase

That capacity is proving necessary. The company delivered 406,498 e-scooters and e-bikes in 2025, surpassing its own guidance and setting a company record . Momentum carried into 2026: in Q1 alone, VinFast delivered 143,136 two-wheelers, a 219% increase year-over-year .

How Fast Is It Growing? The Sales Picture

VinFast’s official guidance for 2026 targets two-wheeler deliveries at least 2.5 times the 2025 figure . Hitting that target would mean more than 1 million e-scooters and e-bikes delivered this year.

Here is a snapshot of the recent growth trajectory:

• 2024 Deliveries: Approximately 100,000 units (implied from 2025’s reported roughly 4x growth)
• 2025 Deliveries: 406,498 units, a record high
• Q1 2026 Deliveries: 143,136 units, +219% year-over-year
• 2026 Official Guidance: At least 2.5x the 2025 figure (~1.02 million units)

A major demand driver is a framework agreement with VinFast’s ride-hailing affiliate, GSM. The deal covers the supply of approximately 4 million electric motorcycles between 2026 and 2030, creating a massive order pipeline .

Global Push: Five Initial Markets and a Second Factory

VinFast is no longer a Vietnam-only two-wheeler story. On January 31, 2026, it announced an international strategy focusing on five initial markets: the Philippines, Indonesia, India, Thailand, and Malaysia .

• Philippines First: The country is positioned as the primary test market for large-scale two-wheel electrification, with a launch expected by June 2026 . VinFast also signed a deal with GSM and 75 local transport companies to deploy up to 18,497 EVs in the Philippines .
• India on the Horizon: Feasibility studies are underway to assess product fit and market requirements .

To support this growth, VinFast received approval in March 2026 to build a new electric motorcycle plant in Ha Tinh’s Vung Ang Economic Zone. The facility is designed for an annual capacity of 2 million units, developed in two phases starting in 2026 . The first phase targets 1 million units per year.

Broader Corporate Context: $530M Spin-Off and 300K EV Target

The two-wheeler expansion is unfolding alongside a foundational corporate restructuring. In May 2026, VinFast filed with the U.S. SEC to sell its Vietnam manufacturing subsidiary—VinFast Production and Trading JSC, which owns the Hai Phong and Ha Tinh factories—for approximately $530 million . The deal is a shift toward an asset-light operating model. After the split, a new entity called VinFast Vietnam JSC will retain the brand, global R&D, intellectual property, and sales operations .

The restructuring is meant to improve capital efficiency even as the broader business scales aggressively. VinFast is targeting 300,000 global EV (car) deliveries in 2026, up from a record 196,919 in 2025 . Global revenue in Q1 2026 grew approximately 42% year-over-year, the company reported .

What’s clear is that electric two-wheelers are not a side project for VinFast. They are the volume backbone of a multi-layered electric mobility push across Southeast Asia—and the 1 millionth unit off the line is just the latest proof point.