This Asian EV Maker Is Beating Tesla, Nio And XPeng This Month — And Could Break Even At Home Next Year

VinFast targets at least 300,000 global deliveries this year, up from about 200,000 in 2025.

• VinFast expects to break even in Vietnam by 2027, with global breakeven following shortly afterward.
• The $7,139 VF 2 drew 29,000 orders within three days of its launch.
• A $530 million factory spinoff could cut spending by $400 million as VinFast expands manufacturing in India and Indonesia.

U.S.-listed shares of VinFast Auto (VFS) are outpacing Tesla, Nio and XPeng this month as surging demand in Vietnam boosts the EV maker’s case for reaching domestic breakeven by 2027.

VFS stock has gained 2% this month, outperforming XPEV’s 1% rise, while NIO and TSLA have fallen 5% and 10%, respectively. VFS has also held up best so far this year, declining 4% versus losses of 6% for NIO, 16% for TSLA, and 34% for XPEV.

VinFast Targets 2027 Breakeven 

Deputy CEO of Investment Anne Pham said at the Bloomberg Sustainable Business Summit in Singapore that VinFast expects to break even in Vietnam next year and reach global breakeven “shortly” afterward. Key to this plan is the VF 2, VinFast’s new entry-level EV priced at 188 million dong ($7,139), including the battery.

The model attracted 29,000 orders within three days of its early July launch, suggesting that VinFast may have found another volume driver in a market it already dominates. The company delivered 115,916 vehicles in Vietnam during the first half of 2026, up 72% from the previous year. It is targeting at least 300,000 global deliveries this year after selling around 200,000 vehicles in 2025.

VinFast’s first-quarter deliveries had already climbed 61% to 58,577 vehicles, with the company saying it has remained Vietnam’s top automaker every month since September 2024.

Tesla, Nio And XPeng Gain Ground 

The stock’s monthly outperformance comes despite improving operating results across the broader EV sector. Tesla delivered 480,126 vehicles globally during the second quarter, beating expectations, while Shanghai wholesale volume rose 24% in June. Yet its shares fell as investors weighed pressure on domestic Chinese demand, where first-half retail deliveries declined by 9%.

Nio posted a record 40,597 deliveries in June, up nearly 63%, and is targeting full-year non-GAAP operating profitability. XPeng delivered 40,126 vehicles, returning to year-over-year growth after five straight declines, helped by its new GX SUV. Competition is also intensifying at home. BYD broke ground in January on a $130 million Vietnamese battery factory that could eventually reach 6 gigawatt-hours of annual capacity and produce batteries for passenger vehicles.

VinFast Spins Off Vietnam Factories 

VinFast is also attempting to take heavy manufacturing costs off its balance sheet. Shareholders approved a plan in May to separate the company’s Vietnam factories and sell the manufacturing operation for $530 million. VinFast would retain its research, intellectual property, software, branding, sales and after-sales businesses. The company expects the spinoff to reduce spending on its Vietnam factories by around $400 million.

On the other hand, VinFast has opened factories in India and Indonesia and plans to deepen local manufacturing in both countries. Pham said deliveries in Indonesia and the Philippines are gaining momentum, aided by higher fuel costs and accelerating EV adoption. VinFast has said it remains committed to the U.S., although North America and Europe are expected to contribute only a modest share of 2026 deliveries.

How Do Retail Traders Feel About EV Makers?

On Stocktwits, retail sentiment for VFS and TSLA was ‘bullish’ amid ‘normal’ message volume, while sentiment for XPEV was ‘neutral’ and NIO was ‘bearish,’ both amid ‘low’ message volume. 

Over the past year, TSLA was the strongest performer with a 15% gain, followed by NIO, which rose 6%. VFS declined 11% but still held up better than XPEV, the weakest performer with a 27% drop. 

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