Vinfast is quickly becoming a sneaky bet in the EV market after adding two new electric SUVs, the VF 6 and VF 7, to its US lineup. With a four-electric SUV portfolio, one in each of the most popular segments, Vinfast is looking to become the “EV manufacturer for everyone.”
After Vinfast delivered its first electric model, the VF e34, making it the first EV sold in Vietnam, the company set its sights on becoming a global electric vehicle maker.
Vinfast is part of Vietnam’s largest private enterprise, Vingroup, which focuses on creating a “better life for people” with its sustainable technology and services.
The automaker made waves in the EV market after introducing the VF 8 and VF 9 at last year’s LA Auto Show. Within 48 hours of opening reservations for the electric SUVs, Vinfast says it received 24,000 global orders.
To align its strategy of becoming a global EV powerhouse, Vinfast vowed to end internal combustion vehicle (ICE) production by the end of 2022 while unveiling an electric model in every auto segment.
Vinfast delivered its first 100 VF 8 electric SUVs in September, reiterating its intentions to become a global brand. The company said the next batch (around 5,000) will be shipped to the United States, Canada, and Europe starting in November 2022, so customers could expect to start receiving them by the end of the year.
US customers will now have access to another two electric SUVs, the VF 6 and VF 7, as Vinfast gives us a closer look at what we can expect.
Vinfast reveals details for two new electric SUVs available in the US
At the LA Auto Show, Vinfast gave a first look at what US-based customers can expect from the automaker’s smaller EV SUV models co-crafted with the famous Italian design house Torino Design.
Vinfast CEO, Le Thi Thu Thuy, explains the significance of adding two new electric models in North America, stating:
The VinFast VF 6 and VF 7 have high-end interior and exterior design, luxurious interior space and advanced technology. With four electric car models that have been introduced in North America so far, covering B-C-D-E segments, each model is created for a specific customer with a unique style and high use value, VinFast is quickly becoming an electric vehicle manufacturer for everyone.
The VF 7 is the company’s compact SUV, slightly bigger than the VF 6, that combines a “dynamic” exterior with a modern tech-focused interior. Vinfast highlights the shape of the compact SUV with its signature front LED bar and dramatic curves.
VinFast VF 7VinFast VF 7 Vinfast VF 7VinFast VF 7
Vinfast’s VF 6, on the other hand, is a smaller electric crossover, which the company says is for those seeking a “technologically advanced EV driving experience.”
The automaker’s smaller SUV features a “modern, spacious interior,” with the central focal point being the large touchscreen interface. See how the two models compare with the preliminary specifications below.
VF 6 Eco
VF 6 Plus
VF 7 Eco
VF 7 Plus
Wheelbase
107.5 in 2,730.0 mm
107.5 in 2,730.0 mm
111.8 in 2840.0 mm
111.8 in 2840.0 mm
Length
166.9 in 4,238 mm
166.9 in 4,238 mm
178.9 in 4,545 mm
178.9 in 4,545 mm
Width
71.7 in 1,820 mm
71.7 in 1,820 mm
74.4 in 1,890 mm
74.4 in 1,890 mm
Height
62.8 in 1,594 mm
62.8 in 1,594 mm
64.4 in 1,635.75 mm
64.4 in 1,635.75 mm
Power (max)
174 HP 130 kW
201 HP 150 kW
201 HP 150 kW
349 HP 260 kW
Torque (max)
184 ft-lb 250 Nm
228 ft-lb 310 Nm
228 ft-lb 310 Nm
368 ft-lb 500 N
Drivetrain
FWD
FWD
FWD
AWD
Seat material
Cloth & Vegan Leather
Vegan Leather
Cloth
Premium Vegan Leather
Roof
Steel
Panoramic Glassroof
Steel
Panoramic Glassroof
Preliminary specifications are subject to change
Like other Vinfast EVs, the two additional electric SUVs in the United States will include advanced safety features while owners can have peace of mind with a 10-year unlimited mileage or lifetime warranty on the battery.
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In the increasingly crowded market for peer-to-peer payments, Venmo is showing momentum while Cash App has hit a rough patch.
The parents of both businesses reported quarterly results this week. PayPal, which owns Venmo, reported an earnings beat and kept its forecast for the year. Block, meanwhile, plummeted in extended trading on Thursday after the Cash App parent missed on revenue and issued disappointing guidance.
Venmo and Cash App are simultaneously competing to gobble up more consumers for their peer-to-peer offerings while also adding services like debit, credit and transfer services so they can actually make money from those users.
For PayPal CEO Alex Chriss, who took over the struggling payments company in 2023, monetizing Venmo is a key piece to his turnaround plan.
Venmo revenue jumped 20% in the first quarter from a year earlier, though PayPal didn’t provide a dollar figure. PayPal pointed to growing adoption of features like the Venmo debit card, instant transfers, and integration into online checkout. The company said monetization per user is improving and that Venmo continues to play a role in its broader e-commerce push.
Revenue at Venmo increased at twice the rate of total payment volume, which rose 10%, reflecting progress in turning engagement into profit.
Read more about tech and crypto from CNBC Pro
During the quarter, PayPal added nearly two million first-time debit card users across PayPal and Venmo, and said Venmo debit card payment volume rose more than 60%. Monthly actives on the card grew about 40%, while Pay with Venmo volume surged 50%.
“We’ve leaned into Venmo and the investment is starting to pay off,” Chriss said on the company’s earnings call.
Block CEO Jack Dorsey struck a different tone on his company’s call.
Cash App posted 10% gross profit growth from a year earlier to $1.38 billion in the first quarter. PayPal’s gross payment volume,or a measure of money moving through Square and Cash App, came in at $56.8 billion, missing the average analyst estimate of $58 billion, according to StreetAccount.
“I just don’t think we were focused enough and had enough attention on the network and the network density, and that is our foundation,” he said.
Dorsey noted that some users still don’t view Cash App as a true banking platform, in part because their experience with the app can feel limited or restrictive when trying to move or access funds. The company is promoting its lending program, Cash App Borrow, which has received approval from the Federal Deposit Insurance Corporation and can now bring origination and servicing in-house.
“We of course want to deepen engagement with our customers through banking services and Borrow, and I have no doubt we will,” Dorsey said. “But at the same time, we need to make sure that we continuously grow our network, and that starts with peer to peer.”
Tesla (TSLA) has revealed the latest web of transactions between itself, Elon Musk, his multiple companies, and board members.
As a public company, Tesla has to report to its shareholders transactions between the company and its executives, board members, and other companies linked to them.
With a new SEC filing, the company has disclosed those latest transactions for 2024 and up to February 2025.
Here’s a list with my comments:
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SpaceX is party to certain commercial, licensing and support agreements with Tesla. Under these agreements, SpaceX incurred expenses of approximately $2.4 million in 2024 and approximately $0.1 million through February 2025.
Tesla didn’t specifically disclosed what are those “certain commercial, licensing and support agreements”.
Tesla also pays SpaceX for the use of Elon Musk’s jet:
Since April 2016, SpaceX has invoiced Tesla for our use of an aircraft owned and operated by SpaceX at rates determined by Tesla and SpaceX, subject to rules of the Federal Aviation Administration governing such arrangements. Tesla incurred expenses of approximately $0.8 million in 2024 and approximately $0.04 million through February 2025.
These transactions have been reported every year between Tesla and SpaceX.
X is a newer addition to Musk enterprises and the CEO has pushed Tesla to spend on advertising on his privately owned platform.
It only amounted to about $400,000 in Tesla spending on X last year aboud only $10,000 this year:
X is party to certain commercial, consulting and support agreements with Tesla. Under these agreements, Tesla incurred expenses of approximately $0.1 million in 2024. As part of a multi-platform advertising campaign, Tesla also directly or indirectly purchased advertising on X, which totaled approximately $0.4 million in 2024 and approximately $0.01 million through February 2025.
Tesla only started to advertise in 2023, shortly after Musk bought Twitter, a platform that relies on advertising, but it has yet to really ramp up its advertising effort.
xAI is the latest private Musk company that Tesla’s CEO is pushing to work with Tesla.
Based on Tesla’s new disclosure, xAI paid Tesla almost $200 million in 2024 and almost $37 million in the first two months of 2025:
xAI is party to certain commercial (including those for the purchase of Megapacks), consulting and support agreements with Tesla. Under these agreements, xAI incurred expenses of approximately $198.3 million in 2024 and approximately $36.9 million through February 2025. Approximately $191.0 million during 2024 and $36.8 million through February 2025 was incurred by xAI for its purchase of our Megapack products.
The vast majority of that was xAI buying Tesla Megapacks to power its data centers.
However, there are also a few millions not accounted for.
Tesla also disclosed paying The Boring Company (TBC), a company privately owned by Musk, over $3 million in 2024 and $800,000 in the first two months of 2025:
TBC is party to commercial agreements with Tesla. Under these agreements, Tesla incurred expenses of approximately $3.6 million in 2024 and approximately $0.8 million through February 2025.
Tesla also pays a security company owned by Musk to provide security services to the CEO:
We are party to a service agreement with a security company, owned by Elon Musk and organized to provide security services concerning him, including in connection with his duties to and work for Tesla. Tesla incurred expenses of approximately $2.8 million for such security services in 2024 and approximately $0.5 million through February 2025, representing a portion of the total cost of security services concerning Elon Musk.
These costs have greatly increased. In 2023, Tesla paid $2.4 million. It increased to $2.8 million in 2024 and based on Tesla having spent $500,000 in the first two months of the year, it looks like it could increase to $3 million in 2025.
Tesla also disclosed that it sold about $30 million worth of scrap materials for JB Straubel’s Redwood Mateirals to recycle:
JB Straubel is the Chief Executive Officer of Redwood. Tesla is party to an agreement with Redwood to supply certain scrap materials. Under this agreement, Redwood incurred expenses of approximately $30.3 million in 2024 and approximately $0.6 million through February 2025.
Straubel is a Tesla co-founder and long-time CTO. He left in 2019 to build a battery recycling and battery material firm, but he also more recently rejoined Tesla’s board – hence why transactions between his company and Tesla need to be reported.
Finally, Tesla disclosed that it paid $300,000 to Kimbal Musk’s company, Nova Sky Stories, for a drone show:
Kimbal Musk is the Chief Executive Officer of Nova Sky Stories. In 2024, we entered into a commercial agreement with Nova Sky Stories in relation to the production of an aerial show. Under this agreement, Tesla incurred expenses of approximately $0.3 million in 2024.
Kimbal Musk is on Tesla’s board and he is Elon Musk’s brother.
Electrek’s Take
I can admit that there can be interesting synergy between companies. When Musk was just leading Tesla and SpaceX, I had some reservations, but I thought it was feasible and some collaboration, like the material science team, made sense.
However, now that Musk is leading Tesla, SpaceX, X, xAI, The Boring Company, Neuralink, and DOGE, it makes no sense whatsoever. It’s too much.
And the synergy between them is often looking like a stretch. For example, the $3 million tunnel is ridiculous. Tesla should have simply better designed its EOL. The Boring Company had a ton of projects that never amounted to anything and it looks like Musk is keeping them busy with Tesla money.
Tesla sending its NVIDIA computers to xAI is also ridiculous. Musk’s excuse was that Tesla’s data center was not ready to receive them, but then he boasted about xAI being to deploy its own data center in a record time of just 3 weeks.
Why was xAI able to do it in 3 weeks but Tesla couldn’t?
Finally, Tesla giving Elon’s brother $300,000 for a drone show is also highly questionable.
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ACT Expo is North America’s premier clean truck and transport trade show – and for 2025 it was bigger than ever, with more exhibitors and more, more capable battery electric vehicles than ever. The downsides? NACFE have scored with their “messy middle” messaging, and the return of “clean diesel” talking points.
I’m talking about the phrase, “the messy middle,” which posits that, while we can all agree that electric vehicles and battery technology are the future, “we’re not quite there, yet.” The result is a series of observations that, while very timely in 2019, seem to disingenuously portray EVs as new technology today, while claiming that there are unanswered questions regarding battery costs and component longevity.
All that said, it’s catchy. Outside of NACFE’s booth or Shell’s panels I’ve heard the phrase “messy middle” repeated sincerely at least a dozen times over the last three days, and I have to admit that the alliterative lure of that particular little ear worm that, regardless of the sincerity of NACFE’s intent, is going to set the pace of EV adoption back at leastthe length of one Presidential term (give or take 100 days).
Moving on …
There was plenty of good stuff
Despite my ranting and raving against the whole “messy middle” messaging, there was an incredible amount of awesome, zero-emission, battery-powered goodness at this year’s ACT Expo. Too much, in fact, to jam into a single article (unless y’all like 5,000 word articles).
As such, I won’t even try.
Instead, I’ll use this post to give you a sneak peek at some of the stories I’ll be posting in the coming days, bringing you fully up to speed with all the latest and greatest new EVs, EREVs, and HFCEVs that commercial fleet buyers can place an order for today, and start putting the messy middle (and their backwards-looking competitors) behind them. So, check out the short list, below, then watch this space to see the links go live.
ACT 2025 News
Zenobe arrives in North America
Honda wants to sell you a fuel cell
Hyundai opens up about its hydrogen semi
ABB has figured out this whole charging deal
Windrose gets real, and Wen Han signs my truck
Volvo has the best deal going for commercial EVs
New Mack electric trucks are coming, and one is already here
The new autonomous terminal tractor from Kalmar is a next-level EV
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