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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
SEGMENT REPORTING |
Schedule of information about segments | For the year ended December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Currency: VND million
​ |  | Car |  | E-scooter |  | Ebus |  | All other |  | Total
Revenues | ​ | 39,460,334 | ​ | 2,275,693 | ​ | 130,838 | ​ | 2,152,150 | ​ | 44,019,015
Cost of sales (*) | ​ | (65,593,249) | ​ | (2,620,417) | ​ | (139,630) | ​ | (943,358) | ​ | (69,296,654)
Gross loss |  | (26,132,915) |  | (344,724) |  | (8,792) |  | 1,208,792 |  | (25,277,639)
Reconciling to operating loss: | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (30,121,519)
Research and development costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (10,025,329)
Selling and distribution costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (7,995,602)
Administrative expenses | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (8,892,429)
Net other operating expenses |  | — |  | — |  | — |  | — |  | (3,208,159)
Operating loss |  | — |  | — |  | — |  | — |  | (55,399,158)
For the year ended December 31, 2023 (represented):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  |  |  |  | ​ | ​ | Currency: VND million
​ |  | Car |  | E-scooter |  | Ebus |  | All other |  | Total
Revenues | ​ | 23,565,631 | ​ | 2,540,568 | ​ | 628,115 | ​ | 1,149,507 | ​ | 27,883,821
Cost of sales (*) | ​ | (37,129,034) | ​ | (3,107,640) | ​ | (532,081) | ​ | (825,977) | ​ | (41,594,732)
Gross loss |  | (13,563,403) |  | (567,072) |  | 96,034 |  | 323,530 |  | (13,710,911)
Reconciling to operating loss: | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (28,259,742)
Research and development costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (15,414,442)
Selling and distribution costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (5,661,737)
Administrative expenses | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (5,611,548)
Net other operating expenses |  | — |  | — |  | — |  | — |  | (1,572,015)
Operating loss |  | — |  | — |  | — |  | — |  | (41,970,653)
​ For the year ended December 31, 2022 (represented):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  |  |  |  |  |  | Currency: VND million
​ |  | Car |  | E-scooter |  | Ebus |  | All other |  | Total
Revenues | ​ | 10,580,719 | ​ | 1,531,366 | ​ | 847,128 | ​ | 968,533 | ​ | 13,927,746
Cost of sales (*) | ​ | (23,153,447) | ​ | (2,345,064) | ​ | (697,829) | ​ | (778,185) | ​ | (26,974,525)
Gross loss |  | (12,572,728) |  | (813,698) |  | 149,299 |  | 190,348 |  | (13,046,779)
Reconciling to operating loss: | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (31,509,468)
Research and development costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (21,196,862)
Selling and distribution costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (5,222,963)
Administrative expenses | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (4,210,502)
Net other operating expenses |  | — |  | — |  | — |  | — |  | (879,141)
Operating loss |  | — |  | — |  | — |  | — |  | (44,556,247)
For the year ended December 31, 2024 (convenience translation): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Currency: USD
​ |  | Car |  | E-scooter |  | Ebus |  | All other |  | Total
Revenues | ​ | 1,621,546,497 | ​ | 93,515,225 | ​ | 5,376,536 | ​ | 88,438,463 | ​ | 1,808,876,721
Cost of sales | ​ | (2,695,428,354) | ​ | (107,680,994) | ​ | (5,737,826) | ​ | (38,765,483) | ​ | (2,847,612,657)
Gross loss | ​ | (1,073,881,857) | ​ | (14,165,769) | ​ | (361,290) | ​ | 49,672,980 | ​ | (1,038,735,936)
Reconciling to operating loss: | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (1,237,785,864)
Research and development costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (411,971,605)
Selling and distribution costs | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (328,563,879)
Administrative expenses | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (365,417,259)
Net other operating expenses | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (131,833,121)
Operating loss | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (2,276,521,800)
​
(*) | Depreciation and amortization included in Cost of sales for the Car segment for the years ended December 31, 2024, 2023 and 2022 was VND 8,230 billion (USD 338 million), VND 5,725 billion and VND 5,204 billion, respectively.
(*) | Depreciation and amortization included in Cost of sales for the E-scooter segment for the years ended December 31, 2024, 2023 and 2022 was VND 528 billion (USD 22 million), VND 376 billion and VND 356 billion, respectively.
(*) | Depreciation and amortization included in Cost of sales for the Ebus segment for the years ended December 31, 2024, 2023 and 2022 was VND 68 billion (USD 3 million), VND 60 billion and VND 76 billion, respectively.
Schedule of revenues by geographic area based on the sales location of the products | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended |  | For the year ended | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2023 | ​ | For the year ended December 31, 2024
​ |  | VND million |  | VND million |  | VND million |  | USD
Vietnam |  | 13,927,746 |  | 27,146,950 | ​ | 37,405,756 |  | 1,537,117,556
United States | ​ | — | ​ | 159,164 | ​ | 2,728,411 | ​ | 112,118,817
Canada | ​ | — | ​ | 577,707 | ​ | 1,906,089 | ​ | 78,327,068
Europe |  | — |  | — | ​ | 139,026 |  | 5,712,993
Pacific – Asia | ​ | — | ​ | — | ​ | 1,839,733 | ​ | 75,600,287
Total |  | 13,927,746 |  | 27,883,821 | ​ | 44,019,015 |  | 1,808,876,721
Schedule of revenues earned from external customers for each group of similar products and services | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended |  | For the year ended | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2023 | ​ | For the year ended December 31, 2024
​ |  | VND million |  | VND million |  | VND million |  | USD
Sales of ICE vehicles and merchandise |  | 6,688,466 |  | 220,397 | ​ | 106,896 |  | 4,392,685
Sales of e-cars |  | 3,846,291 |  | 22,750,175 | ​ | 38,471,395 |  | 1,580,907,952
Sales of e-buses |  | 847,128 |  | 628,115 | ​ | 130,838 |  | 5,376,536
Sales of e-scooters |  | 1,385,479 |  | 1,942,249 | ​ | 1,537,561 |  | 63,183,111
Sale of spare parts |  | 717,080 |  | 882,146 | ​ | 1,823,617 |  | 74,938,032
Rendering of aftermarket services |  | 140,689 |  | 187,141 | ​ | 233,102 |  | 9,578,878
Revenue from leasing activities and other services |  | 302,613 |  | 1,273,598 | ​ | 1,715,606 |  | 70,499,527
Total revenue |  | 13,927,746 |  | 27,883,821 | ​ | 44,019,015 |  | 1,808,876,721
Schedule of long-lived assets by geographic area | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2023 | ​ | For the year ended December 31, 2024
​ |  | VND million |  | VND million |  | USD
Vietnam |  | 76,234,650 |  | 71,376,697 |  | 2,933,088,016
United States |  | 7,383,798 |  | 9,068,924 |  | 372,669,976
Other markets |  | 2,585,764 |  | 3,384,119 |  | 139,063,870
Total |  | 86,204,212 |  | 83,829,740 |  | 3,444,821,862
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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