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VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, March 1, 2023.

Lisa Baertlein | Reuters

Vietnamese electric vehicle maker VinFast‘s ambitious plan to deliver as many as 50,000 vehicles this year is “unrealistic,” according to one analyst.

VinFast said it expects to deliver 40,000 to 50,000 vehicles in 2023 despite a weak global economy. That’s almost seven times the 7,400 EVs it sold last year, all in Vietnam.

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.

Better and VinFast go volatile after debut with SPAC-mergers

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.

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Tales from the comments: Electrek readers share their real-world home solar results

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Tales from the comments: Electrek readers share their real-world home solar results

A few weeks ago, we talked about some real-world numbers shared by Redditors who added a rooftop solar system to their homes. Not to be outdone, Electrek readers took to the comments to share their own real-world solar numbers. Here are some of the best!

That original post, which you can read here, was inspired by a Reddit user going by DontBuyBitcoin who shared a screenshot on r/Solar indicating that their newly-installed ~11.5 kW system produced over 1,700 kWh of electricity in October. “Pretty surprised by the production of the system I got,” writes DontBuyBitcoin. “11.48KW. I cant wait to see what JUNE-AUGUST [2026] going to look like 😍 I wish SolarEdge will make their app better looking with more functionality.”

Other Redditors were quick to share in the enthusiasm, but our Electrek readers weren’t going to be outdone, and shared their own results in the comments section.

I’ve got a 49 panel, 16.5 kW system just outside Austin, TX, and while it’s expensive ($320/mo), I produce much more power than I use each month. But with 2 EVs, a hot tub, and air conditioning in a Texas summer, I’m not mad I have all this. On a current sunny day, I’m producing about 65 kWh. I top out around 107 kWh on a long but somehow not hot day.l in late spring or early fall (whatever that means in Texas).

DAVID CALL

Another reader, Craig Morrow, had a much smaller system at “just” 6.5 kW compared to David’s 16.5 kW deal, but still put up some highly respectable numbers.

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My 6.5 kw PV generates from 16 kwh/day (winter) to 38 kwh/day (late spring). Between the efficiency of my house and my consumption habits, my usage averages 5-6 kwh per day. Went all-in on passive and active solar when I built the house ten years ago, an investment which has long since paid for itself with no heating or utility bills, plus having battery storage means no worries about power outages when the grid goes down. A great feeling to be energy independent!

CRAIG MERROW

Craig had the top comment with twenty upvotes, but he wasn’t the only reader to see some big efficiency gains with home solar. Several of you posted about the cost of your system, and when you’d begin to see an ROI with the savings you were seeing.

My ROI on a $42k system ($30k with the IRA tax credit) was calculated to be 15 years assuming a 4% yearly rate increase. Without the tax credit it would likely be 20+ years. It makes no sense financially. Interestingly, Europeans pay a lot less for similar size systems. Why is that?

BETTERFUTURE

Another commenter, Leonard Bates, was also seeing great returns – but took things a step further by doing some extra math to compare the cost of fueling up his car with gas vs. topping it off with electrons generated by his home solar system.

It is hard for the average Joe to understand electricity production numbers, so I have reduced our experience into dollars. We have a 8.8 kWh rooftop system and two EVs that (other than a few vacation trips a year) are charged at home. We are retired, so we can charge during the day. Bottom line, we saved over $4,000 by not buying gasoline last year (drove ~41,000 miles). Electric bills, with the load of the EVs, is basically a breakeven. The system cost us about $22,000, so a breakeven on the system of about six years and then free electricity for another 20, until the panels need to be replace. Plus we are “energy independent” for our cars. If there is turmoil in the Middle East, it doesn’t affect our pocket books.

LEONARD BATES

Leonard’s math reminds me of landscaper Colin Ash, who has been operating Ash Landscaping for over 30 years and recently traded his diesel excavator in for an electric JCB mini excavator he powers exclusively with solar panels mounted on his carport. “I’m a long-time electric vehicle driver and run my cars on solar energy generated from solar panels on the roof of the car port at my home,” explains Ash. “Adding the new JCB 8008E CTS was a perfect next step and I can plug it in next to the car and charge both overnight.”

So, Ash is happy. It seems like you guys are pretty happy, too – even without the home solar tax credit that a lot of you didn’t even know existed in the first place. Here’s hoping a lot more people decide to share their results with home solar, too.

Or, as one of our commenters put it:

If more homeowners share data like this, it’ll help others make informed decisions rather than relying just on sales projections.

ETECH BUY

Original content from Electrek.


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.

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Volkswagen’s Tesla Robotaxi rival gets put to the test in Wolfsburg

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Volkswagen's Tesla Robotaxi rival gets put to the test in Wolfsburg

Volkswagen is putting its Tesla Robotaxi rival through its paces in Wolfsburg, Germany, where the self-driving Gen.Urban research vehicle is now driving autonomously in real urban traffic – without a steering wheel or pedals!

VW’s Gen.Urban research project sets out to explore how passengers experience riding in a self-driving vehicle on real roads, among real drivers, and without a traditional steering wheel or pedals, and what those requirements might mean for future vehicle concepts.

Some of the key questions VW is asking include:

  • How do people spend their time in a self-driving vehicle?
  • Which digital features best support work, entertainment, or relaxation?
  • How should interaction between the vehicle and passengers be designed, particularly for older people or children?
  • Most importantly: Do people feel comfortable?

“The technology for autonomous driving is making rapid progress,” explains Dr. Nikolai Ardey, Head of Volkswagen Group Innovation. “With our Gen.Urban research vehicle, we want to understand exactly how passengers experience autonomous driving. Because: The key to a positive customer experience is to build trust – through meaningful interaction, a relaxed atmosphere, and intelligent assistance systems that respond precisely to the needs of passengers. Ultimately, technology should fit people, not the other way around. We will benefit from these insights across the entire Group in the long term.”

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Not QUITE fully autonomous


Gen.Travel concept; via VW, 2022

It’s important to note here that, while Volkswagen designed the Gen.Urban without a steering wheel or pedals, the vehicles participating in these test have a trained safety driver monitoring the vehicle from the passenger seat, ready to step in to control the vehicle using a specially developed control panel with a joystick – which means we’re still a long way from the 2022 Volkswagen Gen.Travel concept (above).

Even so, Volkswagen’s autonomous driving efforts have been in public testing phases since at least 2023, when the company unveiled a fleet of ten specially modified VW.Buzz AD electric vans. Tests with those vans have gone well enough, at least, to lead Volkswagen to announce plans for large-scale production.

The current test phase is limited to Volkswagen Group employees as riders, and is planned for a period of several weeks. If results are satisfactory, VW could expand its rider base by the end of Q1.

SOURCE | IMAGES: Volkswagen.


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.

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Past classic that deserves an electric update: Honda Element

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Past classic that deserves an electric update: Honda Element

Ask anyone who owned or owns one, and they’ll tell you that Honda Element was ahead of its time, delivering a flexible interior, car-like ride, and SUV-levels of visibility – and, if Honda really wanted to, they could roll out an all-new, all-electric Element riding on an Ultium-style electric skateboard tomorrow.

Honda’s first Element made its debut way back in 2003, when it was still a bit strange to think of companies like Cadillac, Volkswagen, and Porsche selling anything as big and clunky as an SUV. It earned plenty of fans, however, and for all the same reasons, they’ll love an electric Element even more.

Consider the following:

Car-like handling


Ultium chassis; via GM.

The original Element rolled around on a lot of bits originally developed for the Honda Civic – widely regarded as a fun-to-drive, great-handling little car. That car-based chassis earned it some mockery among automotive journalists who, more than two decades ago, still widely believed that an SUV had to have some off-road chops to it.

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Today, we’re a more enlightened bunch. In 2025, an SUV needs to be practical above all else, emphasizing the “Utility” aspect. With a low-slung, low-cg, and low-intrusion electric skateboard underneath its boxy body (more on that in a minute), a modern Element would be than more than capable of delivering a “car-like” ride with plenty of sporty acceleration, as well.

Flexible interior


Honda Element
Element interior; via Honda.

Remember that comment about the low-intrusion nature of the Ultium EV chassis? Without a transmission tunnel to get in the way, Honda was able to offer a massive, flat floor that made the Element ideal for moving, camping, beach days, tailgating, antiquing, and (not to put too fine a point on it) drive-in movies – which we still had those in Florida until at least 2010.

In an EV, all that flat-floor goodness is still there, with the added benefit of being able to offer a flat floor without a transmission tunnel ruining the bedroom cargo bay.

Add a bit of extra width inherited from the Prologue, toss in a friendly ASIMO interface to keep the investment class happy, and offer a full range of inflatable tents, dog beds, and other overlanding, pet, or surf-friendly accessories, and Honda could watch the money roll in. At the very least, if Honda had built a modern Element instead of the Prologue on GM’s skateboard, they might have an easier time moving them in post-rebate America, I think. What do you guys think?

You guys are smart, so I’m sure you’ll be able to find all the problems with this particular take – and I can’t wait to hear them! Should it be FWD only? A plug-in hybrid? Ship with a tent? Scroll on down to the comments and let me know what you think it would take to make a battery-powered Honda Element revival make sense to you.

Original content from Electrek.


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.

Continue Reading

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