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VinFast Auto Making 'Steady Progress' Toward AI, Autonomous Driving Goals, Wedbush Says

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VinFast Auto (VFS) is making "steady progress" toward integrating AI across its ecosystem and advancing its autonomous driving ambitions, with support from the broader Vingroup ecosystem expected to accelerate development of its AI portfolio, Wedbush Securities said in a report Tuesday.

The positive outlook comes despite the electric vehicle maker reporting fiscal Q1 results that missed Wall Street estimates on both revenue and earnings. Revenue totaled $920.7 million, below the consensus estimate of $1 billion, as the company recorded a $192 million "revenue deduction" tied to "free charging programs" and other adjustments, according to the report.

VinFast delivered about 58,600 EVs during the quarter, up 61% from a year earlier, while maintaining its leadership position in Vietnam's EV market. The firm said the company continues to benefit from strong "EV adoption" trends in its home market.

The company reaffirmed its fiscal 2026 target of delivering at least 300,000 EVs and continues to advance its autonomous driving strategy through partnerships with Autobrains and Nvidia (NVDA), whose Hyperion platform is expected to support future Level 4 robotaxi initiatives, the report said.

Wedbush maintained an outperform rating on VinFast Auto with a price target of $6.

Price: $3.02, Change: $-0.03, Percent Change: -1.15%

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