The company delivered only 11,315 vehicles in the first half of this year, of which 7,100 were sold to Green and Smart Mobility, a Vietnamese taxi company controlled by parent Vingroup, the firm said during its second-quarter earnings call on Sept. 21. In April, Green SM launched a pure EV taxi service in Vietnam with VinFast models.
Shares of Vingroup, one of the largest conglomerates in Vietnam, closed at 45,200 Vietnamese dong ($1.85) on Wednesday, its lowest level since November 2017, according to Refinitiv data.
“More than 50% of EV volume during 1H2023 were to a related company while U.S. volume was less than 200 units raising serious concerns over demand for VinFast’s EVs,” Shifara Samsudeen, equity analyst at LightStream Research, said in a report published on SmartKarma.
Through June, only 137 VinFast EVs — all VF8 SUVs— were registered in the U.S., according to automotive data provider S&P Global Mobility which CNBC confirmed.
U.S. sales aren’t expected to improve any time soon. The reputational issues caused by the launch of the VF8 will not be solved by the VF9.
David Byrne
Analyst, Third Bridge
Meanwhile, U.S. rival Tesla and China’s XPeng delivered 889,015 and 300,145 electric cars, respectively, during the first half of the year.
“VinFast’s ambitious EV plan seems unrealistic. It seems unlikely for VinFast to meet its 50,000 EV target for 2023 and our revised forecast suggests there is further downside despite shares dropping more than 50% vs IPO,” said Samsudeen.
In response to CNBC’s request for comment, VinFast said it is “ramping up production to ensure delivery targets in international markets.”
“Besides, VinFast will soon expand to Southeast Asian and Middle Eastern markets soon, which will also boost our production,” the company told CNBC.
VinFast, which has yet to make a profit, began trading on the Nasdaq on Aug. 15. Its share price soared more than 250% on the first day of trading, but has since dropped more than 60%.
Ambitious plans
VinFast has been ramping up its expansion outside of Vietnam this year, in a bid to compete with automakers globally.
“We have established our operational facilities, including sales network in Vietnam, North America and Europe, and moving forward, we plan to expand our coverage to Asia-Pacific, Middle East and other potential markets globally,” VinFast CEO Lê Thị Thu Thủy said during the firm’s second quarter earnings call.
“We have ambitious plans to deliver seven models in Vietnam, North America, Europe and Asia over 2023 and 2024, such as delivering the VF9 in North America by the end of the year, as well as targeting first delivery of the – the VX6 later this year and the – the VX7 and VF3 in 2024,” said Lê.
Our U.S. sales are improving at our stores. And with the upcoming addition of dealers, we will likely exceed our plan for the year.
Higher prices
Analysts also noted that VinFast’s models are not competitively priced. For example, VinFast’s VF9 model is priced from $83,000 whereas the Tesla Model X is priced from $68,590 after federal tax credit and gas savings.
Additionally, Tesla passenger vehicles qualify for a $7,500 federal tax credit in the U.S., while VinFast vehicles are currently not eligible as they are not built in the U.S.
“[This suggests] that it may not as easy as said to increase the sales volume in the U.S. and other foreign markets given more established EV models are selling for a lower price,” said Samsudeen.
“Our experts questioned the pricing decision of VF9 in the US market. It is more expensive than key, more established competitors such as the Kia EV9 and the Tesla Model X, despite the platform being internal combustion engine-derived, compromising its performance and range,” said Bryne.
VinFast told CNBC that “experts have carefully researched and priced our vehicles properly.” It also said it does not consider some of these mentioned vehicles as their competitors, without specifying models.
During the second quarter, VinFast posted a net loss of $526.7 million, improving 8.2% from the same period a year ago.
VinFast expects to break even by the end of 2024, its founder Pham Nhat Vuong reportedly told investors at the company’s annual general meeting in May.
Sustainable boatbuilder Sunreef Yachts has unveiled another stunning solar electric catamaran, or “supercat,” which it is calling “Double Happiness.” This fully-electric yacht is 100 feet, Sunreef’s longest to date.
As we’ve pointed out in the past, Sunreef Yachts has been pushing the boundaries of sustainable marine travel since 2002. Over that time, the Polish boatbuilder launched the world’s first 74-foot luxury oceangoing catamaran with a flybridge.
Over twenty years later, hundreds of Sunreef Yachts can be seen traversing waters worldwide, showcasing the company’s lineup of sustainable luxury catamarans, all-electric propulsion, and advanced solar panels it calls “solar skin.”
Over the years, we’ve highlighted some of Sunreef’s solar-electric catamarans, ranging in length from 40 to 100 meters, including the Eco Explorer and the 80 Power Eco. Today, Sunreef has introduced its newest addition to its all-electric lineup: a 100-foot catamaran named “Double Happiness.”
Advertisement – scroll for more content
Sunreef’s newest electric yacht boasts length and power
According to Sunreef Yachts, the new Double Happiness is its first all-electric 100-foot yacht to combine cruising and eco-technology. This 100 Sunreef Power Eco supercat is propelled by four 180 kW electric motors and powered by a massive 990 kWh battery pack onboard.
There’s also the option for range extension via two generator sets (350 kW at 622 V DC). Additionally, rooftop solar panels (12 kWp) help power some of the onboard electronics. The result is a 16-passenger super catamaran that can accommodate up to ten guides across five en-suites. Given its size, the all-electric 100 Sunreef Power Eco yacht offers vast and luxurious spaces as well as quiet, secluded areas. Sunreef Yachts Founder and CEO, Francis Lapp, spoke:
The first models of the 100 Sunreef Power were a revolution, they offered unbelievable amounts of space, comfort, proximity with the sea, and seaworthiness. With this 100 Sunreef Power Eco, named Double Happiness, we take the 100 Sunreef Power to the next level. Now, this superyacht is able to navigate in full silence, no vibrations, no fumes, fostering a better connection with the sea and superior energy efficiency.
The 100 Sunreef Power Eco joins the boatbuilder’s growing lineup of quiet, emission-free solar-electric catamarans that are not only sustainable but also ultra-luxurious and well-crafted.
FTC: We use income earning auto affiliate links.More.
GM may have decided to pull the plug on the forward-looking Chevy Brightdrop electric van a few months ago, but don’t let that stop you, but don’t let that fool you. Right now might be the best time ever to get your hands on one.
Despite that, I’ve heard more than one fleet manager express hesitation at the thought of adding a discontinued product to their fleet, even if it is a killer discount. To them, I offer the following, model-agnostic rebuttal:
Advertisement – scroll for more content
Legacy brands support their products
Fleet of FedEx BrightDrop 600 electric vans; via GM.
Companies like GM aren’t going anywhere soon, and neither are the customers they’ve spent millions of dollars acquiring over the past several decades. They’ll keep building parts and offering service and maintenance on vehicles like the Brightdrop for at least a decade — not least of which because they have to!
GM sells each Brightdrop with a minimum 8 year/100,000 mile warranty on the battery and other key components, which can be extended either through GM itself or through reputable third-party companies like Xcelerate Auto for seven more.
So, yes: parts longevity and manufacturer support will be there (something I’d be less confident about with a startup like Rivian or Bollinger, for example), but there’s more.
Section 179 and local incentives
McKinstry’s 100th Silverado EV; via GM.
The One Big, Beautiful Bill Act (OBBBA) of 2025 gutted America’s energy independence goals and ensuring its auto industry would fall even further behind the Chinese in the EV race, but the loss of Section 45W wasn’t the only change written into the IRS’ rulebook. Section 179, an immediate expense reduction that business owners can take on depreciable equipment assets, has been made significantly more powerful for 2025.
The section 179 expense deduction is limited to such items as cars, office equipment, business machinery, and computers. This speedy deduction can provide substantial tax relief for business owners who are purchasing startup equipment.
The revised Section 179 tax credit (or, more accurately, expense reduction) allows for a 100% deduction for equipment purchases has doubled to $2.5 million, with a phase-out kicking in at $4 million of capital investments that drops to zero at $6.5 million. That credit and can be applied to new and used vehicles, as well as charging infrastructure, battery energy storage systems, specialized tools, and more (as long as they’re new to you).
All of which is to say: don’t let a little thing like GM discontinuing the Brightdrop convince you to skip it. If you do that, the bean counters that killed off the Buick Grand National, GMC Syclone, and Pontiac Fiero win.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
US Energy Information Administration (EIA) data released on November 25 and reviewed by the SUN DAY Campaign reveal that, during the first nine months of 2025 and for the past year, solar and battery storage have dominated growth among competing energy sources, while fossil fuels and nuclear power have stagnated.
Solar set new records in September
EIA’s latest “Electric Power Monthly” report (with data through September 30, 2025), once again confirms that solar is the fastest-growing source of electricity in the US.
In September alone, electrical generation by utility-scale solar (>1 megawatt (MW)) ballooned by well over 36.1% compared to September 2024, while “estimated” small-scale (e.g., rooftop) solar PV increased by 12.7%. Combined, they grew by 29.9% and provided 9.7% of US electrical output during the month, up from 7.6% a year ago.
Moreover, generation from utility-scale solar thermal and photovoltaic systems expanded by 35.8%, while that from small-scale systems rose by 11.2% during the first nine months of 2025 compared to the same period in 2024. The combination of utility-scale and small-scale solar increased by 29.0% and produced a bit over 9.0% (utility-scale: 6.85%; small-scale: 2.16%) of total US electrical generation for January-September, up from 7.2% a year earlier.
Advertisement – scroll for more content
And for the third consecutive month, utility-scale solar generated more electricity than US wind farms: by 4% in July, 15% in August, and 9% in September. Including small-scale systems, solar has outproduced wind for five consecutive months and by over 40% in September.
Wind leads among renewables
Wind turbines across the US produced 9.8% of US electricity in the first nine months of 2025 – an increase of 1.3% compared to the same period a year earlier and 79% more than that produced by US hydropower plants.
During the first nine months of 2025, electrical generation from wind plus utility-scale and small-scale solar provided 18.8% of the US total, up from 17.1% during the first three quarters of 2024.
Wind and solar combined provided 15.1% more electricity than did coal during the first nine months of this year, and 9.8% more than the US’s nuclear power plants. In fact, as solar and wind expanded, nuclear-generated electricity dropped by 0.1%.
Renewables are now only second to natural gas
The mix of all renewables (wind, solar, hydropower, biomass, and geothermal) produced 8.7% more electricity in January-September than they did a year ago, providing 25.6% of total US electricity production compared to 24.2% 12 months earlier.
Renewables’ share of electrical generation is now second to only that of natural gas, which saw a 3.8% drop in electrical output during the first nine months of 2025.
Solar + storage have dominated 2025
Between October 1, 2024, and September 30, 2025, utility-scale solar capacity grew by 31,619.5 MW, while an additional 5,923.5 MW was provided by small-scale solar. EIA foresees continued strong solar growth, with an additional 35,210.9 MW of utility–scale solar capacity being added in the next 12 months.
Strong growth was also experienced by battery storage, which grew by 59.4% during the past year, adding 13,808.9 MW of new capacity. EIA also notes that planned battery capacity additions over the next year total 22,052.9 MW.
Wind also made a strong showing during the past 12 months, adding 4,843.2 MW, while planned capacity additions over the next year total 9,630.0 MW (onshore) plus 800.0 MW (offshore).
On the other hand, natural gas capacity increased by only 3,417.1 MW and nuclear power added 46.0 MW. Meanwhile, coal capacity plummeted by 3,926.1 MW and petroleum-based capacity fell by an additional 606.6 MW.
Thus, during the past year, renewable energy capacity, including battery storage, small-scale solar, hydropower, geothermal, and biomass, ballooned by 56,019.7 MW while that of all fossil fuels and nuclear power combined actually declined by 1,095.2 MW.
The EIA expects this trend to continue and accelerate over the next 12 months. Utility-scale renewables plus battery storage are projected to increase by 67,806.1 MW (a forecast for small-scale solar is not provided). Meanwhile, natural gas capacity is expected to increase by only 3,835.8 MW, while coal capacity is projected to decrease by 5,857.0 MW, and oil capacity is anticipated to decrease by 5.8 MW. EIA does not project any new growth for nuclear power in the coming year.
SUN DAY Campaign’s executive director Ken Bossong said:
The Trump Administration’s efforts to jump-start nuclear power and fossil fuels are not succeeding. Capacity additions from solar, wind, and battery storage continue to dramatically outpace those from gas, coal, and nuclear, and by growing margins.
If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!
Your personalized heat pump quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – *ad
FTC: We use income earning auto affiliate links.More.