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Vietnamese EV maker VinFast celebrated its listing on the Nasdaq exchange under the ticker “VFS” on Tuesday. During its market debut, VinFast’s market cap easily surpassed Ford and GM, ending the day worth almost as much as both combined.

VinFast stock soars during US market debut

Shortly after its business merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ) was approved by shareholders last week, VinFast announced Monday it had completed the combination.

VinFast shares began trading this morning at around $22, more than double the $10 set stock price agreed upon with BSAQ at a value of $23 billion.

Well, investors were quick to pile in, sending VinFast stock shares over $34 a share shortly after noon. Although share prices slipped during afternoon trading hours, VinFast rallied into close, ending the day at $37 per share, up 270% from its planned IPO price.

At $37 a share, VinFast’s market value would be over $85 billion, significantly higher than that of Ford ($48 billion) and General Motors ($46 billion). Is VinFast worth more than nearly both Ford and GM combined?

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VinFast (VFS) stock first trading session on the Nasdaq exchange (Source: TradingView)

Worth more than Ford and GM?

Since shipping its first batch of VF 8 electric SUVs to the US in November, the EV maker has sent nearly 3,000 models overseas. However, progress has been slow.

According to recent estimates from Kelley Blue Book, VinFast has sold 850 EVs in the US so far this year (11,300 globally). Of those, 740 of the sales occurred in the second quarter.

The EV maker has dealt with software issues that delayed its US rollout until March. More recently, VinFast broke ground on its first US electric vehicle production facility in North Carolina.

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A rendering of VinFast’s incoming EV production facility in North Carolina / Credit: VinFast

VinFast says it will invest up to $2 billion during Phase 1, with an area spanning roughly 1,800 acres. The plant will be divided into five main production areas: body shop, general assembly, press shop, paint shop, and energy center.

During the initial phase, the EV maker will focus on building VinFast VF 7, VF 8, and VF 9 electric models with over 150,000 annual production capacity once fully operational. Production is expected to begin in 2025.

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VinFast VF 8 models (Source: VinFast)

VinFast generated $83.5 million in revenue in the first three months of the year, but operating losses reached -$472.1 million, resulting in a net loss of $598.3 million. The EV maker ended the quarter with $158.5 million in cash and equivalents.

The company’s chief financial officer, David Mansfield, told Reuters, “We have a number of strategic investors and institutional investors lined up. We expect to formulate some kind of capital raising over the next 18 months, for sure.”

Mansfield added, “We don’t need more equity capital, but if an opportunity is presented, we’ll obviously take advantage of that while we can.”

Meanwhile, Ford sold 14,843 EVs in the second quarter, down 2.7% from the first quarter. The primary reason for the dip is due to downtime at its Mexico plant, where the Mustang Mach-E is built.

Ford’s Model e EV unit generated $1.8 billion in revenue in the second quarter while operating losses reached $1.08 billion (keep in mind, Ford also has hybrid/ICE sales in addition to its commercial and software business). The automaker is pushing back its 600,000 EV production goal until 2024 after planning to hit it by the end of the year.

On the other hand, General Motors sold 15,652 EVs in the US in Q2, down 21% from the first three months of the year. Despite the Chevy Bolt EV and EUV accounting for over 93% of GM’s EV sales through the first half of the year, the automaker is discontinuing the current model to make room for its Ultium-based lineup (which will include a next-gen Bolt EV, don’t worry).

Electrek’s Take

I wouldn’t get too excited quite yet. We’ve seen plenty of startups (not just EV companies) soar on the first days or weeks of trading, only to fall significantly after that.

For example, Rivian’s market cap skyrocketed to over $150 billion within a week of its IPO in November 2021. The EV startup has watched its value dwindle over the years, settling around $20 billion currently.

VinFast is an exciting EV company with a potentially promising future, don’t get me wrong, but do I think it should be worth more than Ford, GM, Lucid, or Rivian? At this point, not necessarily. The market had a surprisingly positive response to VinFast’s market debut. We’ll keep you updated with the latest.

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Bluetti launches RVSolar power system for on-the-go lifestyles with up to $1,850 exclusive savings from $1,169, ECOVACS, more

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Bluetti launches RVSolar power system for on-the-go lifestyles with up to ,850 exclusive savings from ,169, ECOVACS, more

Following yesterday’s new EcoFlow releases, today’s Green Deals are headlined by Bluetti’s all-new RVSolar 48V Solar Power System launching alongside several bundles with up to $1,850 in exclusive savings – all starting from $1,169. Next, we have ECOVACS’ Goat O1000 RTK Robot Lawn Mower hitting a new $785 low, as well as several BougeRV portable electric coolers getting up to 28% discounts starting from $160, a Greenworks compact chainsaw deal, and more waiting for you below. And don’t forget about all the hangover deals collected at the bottom of the page, like yesterday’s new EcoFlow DELTA 3 Max and Ultra launch deals, Bluetti’s Early Prime Day Sale lineup, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Power your mobile life through Bluetti’s new RVSolar power system bundles with exclusive savings from $2,519

Bluetti is ending September with an all-new release for RV and van life lovers who want to adventure with a more eco-friendly power source – plus, we’ve even secured some exclusive savings for our readers. You can pick up the base package for Bluetti’s RVSolar 48V Solar Power System (made up of a power hub, LiFePO4 battery, and wiring kit) for $2,519.10 shippedafter using the exclusive code ELECTREK10F at checkout for an additional 10% off. This new system will run for $3,699 at full price once the initial launch savings end, with things starting at a 24% markdown that combined with our exclusive savings for a combined 32% price cut of $1,180 that sets the bar for future discounts – plus, there are loads of bundle deals waiting for you below.

This new RVSolar power system from Bluetti, as the name implies, is entirely focused on RV/nomad life. This is a plug-and-play option to bring solar capabilities to your RV’s appliances, with it covering multiple appliances at once with up to 5,000W output power from its 100Ah LiFePO4 battery – all with “no noise, fumes, or maintenance – just quiet, natural surroundings.”

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The IP65 water-resistant construction gives Bluetti’s RVSolar system protection against spills/accidents, road bumps, and more, with the battery bringing a rating from the brand for a 10+ year lifespan. What’s really great here is the mix of recharging options, making it much more versatile, like any ordinary power station. There’s the 1,800W max solar input you can get from portable or mounted solar panels, the 1,200W input you’ll get from your vehicle’s alternator, or the largest 5,000W input you can get from shore power.

***Note: Be sure to use the exclusive code ELECTREK10F at checkout for these prices!

Bluetti’s RVSolar power system deals:

ECOVACS Goat O1000 RTK robot lawn mower mowing grass between rock walkway and blocks

ECOVACS’ three Goat RTK robot lawn mowers see up to $900 discounts starting from a new $785 low

Amazon is offering a lower-than-ever rate on the ECOVACS Goat O1000 RTK Robot Lawn Mower for $784.99 shipped, which beats out its direct pricing from the brand’s website by $15. While it carries a $1,000 MSRP, this model has been recently keeping down at $900, with some falls over the year having seen things go to $850 and a one-time $841. The deal here today is going lower than ever, as the 22% markdown cuts $215 off the full price tag for a new all-time low.

If you want to learn more about this model, or its two upgraded counterparts also seeing discounts, be sure to check out our original coverage of these deals here.

two women placing BougeRV portable electric cooler in SUV trunk

Save up to 28% on BougeRV’s portable electric coolers for any of your vehicles starting from $160

Through its official Amazon storefront, BougeRV is offering up to 28% discounts on a lineup of 12V portable electric fridge/freezers, starting with the 23-Quart Portable Cooler at $159.99 shipped, with other 30, 42, and 53-quart sizes available at discounted rates here, all with multiple colorways to choose from. The smallest of these here would normally run you $190 at full price, which we’ve mostly seen drop between $170 and $160 over the year, with some select falls lower to $157 last seen in August. Today’s deal gives you a solid $30 markdown off the going rate for the second-best price of the year and the fourth-lowest overall – just $8 above the all-time low.

If you want to learn more about these coolers, including the lineup of discounts, be sure to check out our original coverage of these deals here.

man holding Greenworks 40V 12-inch compact cordless chainsaw

Greenworks’ 2nd-gen 40V 12-inch cordless compact chainsaw with a 2.0Ah battery is back down at $128

Amazon is offering the Greenworks 40V 12-inch Gen 2 Cordless Compact Chainsaw with 2.0Ah battery at $127.99 shipped, which matches the price we’re seeing direct from the brand’s website. Outside of discounts, you’d be shelling out $170 for this model at full price, which we’ve seen dropping to $128 twice before in 2025 and a fall lower to $120 that occurred during July’s Prime Day event. You can pick your own up today with $42 slashed from the tag, giving you the second-best price of the year that only sits $8 above July’s annual low.

If you want to learn more about this compact chainsaw, be sure to check out our original coverage of this deal here.

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Genesis is about to unleash its first luxury performance EV

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Genesis is about to unleash its first luxury performance EV

We will get our first look at the electric sports car by the end of the year, but Genesis is giving us a closer look at the GV60 Magma, the luxury brand’s first high-performance EV.

Genesis preps for its first luxury performance EV

Genesis is about to shake things up with its first high-performance luxury EV, the GV60 Magma. Although it packs plenty of power, Genesis promises it’s more than a performance machine.

The GV60 Magma will “set a new standard for global luxury and high performance,” Genesis said, confirming it will make its official debut by the end of the year.

In the meantime, the company is testing it in some of the most extreme conditions across the globe to ensure it delivers.

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Genesis announced on Tuesday, September 30, that the GV60 Magma had undergone testing in the US, Sweden, New Zealand, South Korea, and elsewhere, “to ensure stability at high speeds and a luxurious ride in any driving conditions.”

The luxury brand claimed its performance EV “achieved the ultimate ride quality through driving tests in extreme heat and cold conditions.”

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The Genesis GV60 Magma concept (Source: Genesis)

In Sweden, Genesis tested the GV60 Magma’s launch performance and chassis control development, while at its California Proving Ground, it conducted hot weather tests, evaluated overheat protection, and assessed cooling performance.

Genesis tested the performance EV in New Zealand’s rugged mountainous region at an altitude of 1,500 km to ensure stability, braking, and control in extreme, blizzardy conditions.

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Genesis GV60 Magma EV concept global debut at Goodwood (Source: Genesis)

Offering more than just pure performance

To maximize driving performance and ride comfort, Genesis ran a driving evaluation in its home market of South Korea last week.

“The numerous driving tests conducted around the world went beyond simple performance verification and were a continuous process of picking to simultaneously capture the charm of high performance and the value of comfort,” a company official said.

Genesis-GV60-Magma-EV
Genesis GV60 Magma EV concept (Source: Genesis)

Genesis promises the GV60 Magma will offer a “differentiated driving experience” with advanced new technology that the luxury brand has accumulated over the past decade.

It will be more than a performance EV. According to Genesis, the GV60 Magma “is a model that can enjoy comfortable driving in everyday life while also delivering the charm of high performance at any time.” It will showcase the brand’s “future vision for luxury high performance.”

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Genesis GV60 Magma testing with other Magma vehicles (Source: Genesis)

We’ve seen the performance model out testing a few times now. Just last month, it was spotted ripping around the Nürburgring race track in Germany with minimal camouflage.

Like Hyundai’s other performance electric cars, such as the IONIQ 5 N and IONIQ 6 N, the Genesis GV60 Magma is expected to pack over 600 horsepower. It could be even closer to 700 horses. We will find out soon when it makes its official debut.

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Genesis Magma vehicles (Source: Genesis)

The current Genesis GV60 Performance delivers up to 429 horsepower and 516 lb-ft of torque, enabling a 0-60 mph sprint in 3.7 seconds.

It will also likely include features similar to Hyundai’s N Torque Distribution, Grin Boost, Launch Control, and e-Shift, allowing you to fine-tune performance and other settings.

Genesis will launch the GV60 Magma later this year in Korea, followed by the US, Europe, and other markets. Prices will be revealed closer to launch, but the current Performance model starts at $69,900 in the US. The GV60 Magma is likely to be priced closer to $75,000 or more.

In comparison, the Tesla Model S Plaid starts at $89,990, boasting 1,020 hp. Tesla’s luxury performance EV can hit 0 to 60 mph in just 1.99 seconds. Will the Genesis GV60 Magma compete?

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New Chevy Bolt seen charging at Tesla Supercharger in LA a week before reveal

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New Chevy Bolt seen charging at Tesla Supercharger in LA a week before reveal

So far we’ve seen nothing but teaser images of the new Chevy Bolt, but this weekend it was spotted charging at a Tesla Supercharger in Southern California ahead of its October 8 reveal.

The Chevy Bolt was originally released in the 2017 model year. It was GM’s first real, modern effort at an EV, designed to be all-electric rather than a compliance car like the old Chevy Spark EV. (GM did previously design the EV1 from the ground up, but it came along before the lithium ion era of EVs, and was decidedly a compliance car).

It was also a great car. Not only was it a good size unlike the ridiculous land yachts we’re seeing so many of today, it had a phenomenal price, especially near the end of the model’s life. It was good enough to be Electrek’s vehicle of the year for 2022.

But, due to an extended recall and because the Bolt used GM’s first-gen EV platform, rather than its whiz-bang new “Ultium” system, GM retired the vehicle in late 2023, even though it was having its best sales year ever.

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But, that wasn’t the end for the model. After declaring the Bolt dead but before ending production on it, GM said that it would bring back an Ultium-based Chevy Bolt (which our publisher Seth Weintraub has taken to calling the “Boltium”).

Unfortunately, the new Bolt will be larger than the old Bolt. The Bolt had two models, the EV and EUV, which were extremely similar except that the EUV was just bigger (and more expensive). Instead of bringing back the spread of both models, GM decided to only bring the larger one, continuing to let the SUV virus spread unchecked through the American populace.

To be fair, the EUV is still not an enormous vehicle, but it is six inches longer than the EV was, and any move towards larger cars is the wrong direction. But that said, we don’t actually know the dimensions of the new Bolt… but we do, now, know what it looks like.

Chevy Bolt spotted charging at Tesla Supercharger with NACS port

And it turns out, it looks almost exactly like the old one. At least from the outside.

It was spotted charging at a Tesla Supercharger in Southern California (which I don’t recognize, but which I’m sure our readers will be able to point out) by EV Youtuber chargepozitive, who posted his photos on Instagram.

The exterior design of the Bolt looks pretty much identical to the outgoing EUV model. The only differences we can see are the removal of the black border around the fake grille, addition of a black line between the headlights, a change in the taillights to add a slight angular dip around the edges, and more body color paint on the rear bumper.

We can’t tell what the size of the vehicle is, but it’s likely similar if not identical to the outgoing EUV, given how similar the models look.

And while chargepozitive said he could peek through the windows to see inside, the dash was covered up and the GM employee who was there with the car asked him not to take pictures.

What’s more interesting is what it’s plugged into – a Tesla Supercharger, via a NACS port.

Like the entire rest of the industry, GM committed to adding NACS to its EVs, and it looks like we’re finally seeing the end results of that.

While adapters have been available and even the old Bolt has been able to charge on Tesla Superchargers for some time now, GM has not yet released an EV with a native NACS port. Its first native NACS car is scheduled to be the 2026 Cadillac Optiq, but more are coming, including the new Bolt.

The charger the Bolt was spotted at has the new V4-style cabinets, which notably have a longer cable. This seems to matter, because the Chevy Bolt has its charge port in front of the driver’s door – the same place the original model had it.

While this is good for GM’s design and engineering process, and for consistency for current Bolt owners, it could lead to a few snags… particularly when it comes to Supercharger use.

Since Tesla put the charge port for its vehicles in a weird spot (because that’s where the plug was in the garage of the house Elon Musk was renting at the time), that means all Superchargers are configured so the cable can reach the left-rear of the vehicle. And some early Superchargers have short cables, which really can’t reach more than a couple feet.

So, that means a port at the left-front of the vehicle isn’t going to be reachable on those short-cable chargers. Tesla even has an entry about this on its NACS FAQ page, stating:

Most Supercharger cables at NACS Supercharger sites should be able to reach your EV charge port, however, in some cases you might have to park over the line in order to charge comfortably. Avoid parking diagonally to reach the cable and try to obstruct as few charge posts as possible. Charge port locations vary by EV model, which requires cable sharing between adjacent stalls at many sites. Tesla is rapidly deploying our latest V4 Supercharger post which reaches all EVs in the same Supercharger stall. Additionally, we encourage all vehicle manufacturers to standardize charge port locations to the rear driver side or front passenger side.

Notably, the new Bolt’s charging location is not in either of those two quadrants of the vehicle, and is even set back from the nose, which will add difficulty at all but the latest Tesla sites (though it should be said that even the Cybertruck is barely compatible with some Supercharger sites).

This is just an early showing in a few photos, and frankly doesn’t tell us a lot that we didn’t already find when GM sent out some teaser images in July showing the new front fascia and charge port placement.

But we’ll get a closer look at the Bolt next week at an unveiling event in Los Angeles. So stay tuned for more details.

What do you think about the new Bolt’s design, now that we’ve seen it all-in-one rather than through teaser images? Let us know in the comments.


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