VinFast Auto Ltd. (NASDAQ:VFS) Q3 2024 Earnings Conference Call November 26, 2024 8:00 AM ET
Company Participants
Nhi Nguyen - IR
Le Thi Thu Thuy - Chairwoman
Nguyen Thi Lan Anh - CFO
Conference Call Participants
Andrew Sheppard - Cantor Fitzgerald
Tyler DiMatteo - BTIG
Dan Ives - Webs
Operator
Good day and thank you for standing by. Welcome to VinFast Auto Limited Third Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Nhi Nguyen. Please go ahead.
Nhi Nguyen
Thank you, operator, and good morning, everyone. This is Nhi Nguyen from VinFast Investor Relations. Welcome to our third quarter earnings conference call. Joining me today are Chairwoman of the Board, Madame Thuy Le; and our CFO, Ms. Lan Anh Nguyen.
During the call, we will discuss our third quarter performance, business update and present our outlook for the remainder of 2024. After management remarks, we will have 30 minutes for Q&A. We will also reference a slide deck today, which is accessible on the IR website.
Before I turn the call over to Madame Thuy Le, let me remind you that some of the statements on this call include forward-looking statements under federal securities law. These include, without limitation, statements regarding the future financial and operating outlook, guidance, macroeconomics, industry trends, company initiatives, and other future events. These statements are based on the predictions and expectations as of today. Actual events or results may differ due to a number of risks and uncertainties. We refer you to the cautionary language and the risk factors in our most recent filings with the U.S. Securities and Exchange Commission.
In addition, management will refer to non-GAAP financial during this call, a discussion of why we use non-GAAP and information regarding the reconciliation of our non-GAAP versus GAAP is available in the PR that we issued this morning. You can also find it on our presentation.
With that, I would like to invite Madame Thuy Le to start with management remarks.
Le Thi Thu Thuy
Thank you, Nhi, and welcome, everyone. It's great to speak with you again and to share the exciting developments at VinFast.
Q3 2024 was underpinned by a robust September as we recorded our highest monthly delivery ever in our home market. For the first time, Vietnam's OEM, which has been around for only seven years, and only pivoted to a pure EV strategy early about two years ago, has outperformed international competitors to become the market leader. This marks a historic milestone for Vietnam's automotive industry as it now enter a very short-list of countries in which a domestic pure EV player leads the sales chart. It also demonstrates that maintaining flexibility and simply responding to a near-term market opportunity is an effective strategy during the early stages of EV transition.