After giving the public a glimpse of its Q4 2023 delivery targets last month, VinFast shared its full financial results for the previous quarter and year-over-year comparisons. Revenues are up, but the Vietnamese automaker will have to truly ramp up if it wants to reach its newly proposed delivery targets for 2024.
VinFast Auto ($VFS) remains a young automaker in the EV space, trying to make a global name for itself by expanding at a beyond-ambitious rate (sometimes to its financial detriment).
We have followed the Vietnamese auto brand of VinGroup from its inception, reporting on its continued expansion to new markets in the US, Europe, and India – all while continuing to introduce more and more EV models like the VF 3 compact SUV and most recently, an electric pickup concept called the Wild.
At the start of 2023, VinFast targeted 40,000 to 50,000 global EV deliveries. By Q3 2023, that quarterly total had reached 10,027 units, up 5.2% from 9,535 EVs in Q2. At the time, VinFast founder Pham Nhat Vuong shared that 60% of those Q3 sales (over 6,000) were to vehicle rental company Green and Smart Mobility (GSM) – a sibling recently established under the VinGroup umbrella.
In January 2024, we learned VinFast’s Q4 deliveries grew to 13,513 EVs, bringing the total to 34,855 for the fiscal year and landing well below the lower end of its 2023 targets. The company cited slow EV adoption rates in certain regions (who isn’t using that excuse these days?), but the full Q4 and 2023 reports tell a slightly more optimistic tale. Despite lower deliveries, revenue is up.
The VF 8 / Source: VinFast
VinFast reports Q4 and total 2023 revenue growth
Per VinFast, Q4 revenue totaled $437 million, up 26% from the previous quarter and 133% YOY. Thanks to cost optimization strategies, the Vietnamese automaker also reported that profit margins have increased (negative 46% in FY 2023, compared to negative 82% in FY 2022), enabling higher revenue gaps.
For the entire fiscal year 2023, VinFast is reporting $1.2 billion in revenue, an increase of 91% YOY. Increased revenue is always a welcomed stat, but the miss on deliveries must be addressed, regardless of the excuses. Still, in true VinFast fashion, the automaker is doubling down (literally) and setting significantly higher targets for 2024. Per former VinFast CEO turned chairwoman of the board of directors, Madam Thuy Le:
2023 was a whirlwind of firsts for VinFast, culminating in a strong public debut. We launched exciting new products, expanded our distribution network, and solidified our presence in existing markets while opening doors to promising new ones. These moves laid a strong foundation for 2024, a year of global expansion and cost optimization. We’re already seeing positive signs in key markets like the U.S. and Indonesia. We’re not resting on our laurels. Fueled by this momentum and a recovering consumer sentiment, we’re setting an ambitious target of delivering 100,000 vehicles in 2024. This is a testament to our unwavering commitment to building a greener future for all.
VinFast shared that its gross loss in Q4 was $174.9 million and $551.6 for the fiscal year 2023.
Looking ahead, VinFast intends to balance revenue growth through cost optimization, including its cost of materials and EV production, all while trying to manufacture and deliver 100,000 EVs. Bold. In addition to continued production expansion in the US and entry into new global markets like Indonesia, VinFast has vowed to invest in markets closer to its native Vietnam. VinFast CFO Anh Nguyen also spoke to today’s Q4 report:
We saw favorable results in our business operations in the fourth quarter, with strong revenue growth and improved profit margins. We remain focused on enhancing investment performance and strengthening our balance sheet by reducing production and materials costs and strategically optimizing our global manufacturing CapEx. These initiatives will support our expansion efforts into high-growth markets like Indonesia and India and unlock the potential of these regions to drive substantial sales growth.
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Duracell, the iconic US battery brand that started in the 1920s, is crossing the Atlantic to launch its first-ever EV fast charging network, Duracell E-Charge, in the UK.
Sales of gas and diesel cars will end by 2030 in the UK, which is driving EV sales and charging infrastructure growth. With more than £200 million ($266 million) in planned investment over the next decade, Duracell E-Charge is getting on the bandwagon with an aim to improve the fast charging experience.
Duracell has licensed its new network to Elektra Charge, a charge point operator set up to run the Duracell E-Charge network. The EV Network (EVN), one of the UK’s top charging infrastructure developers, will fund and build the charging hubs.
“The need for faster, more reliable charging to keep pace with EV adoption is clear,” said Reza Shaybani, CEO of The EV Network. “Duracell E-Charge is a direct response to that challenge.”
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Duracell’s EV fast charging network will feature 400 kW ultra-fast chargers where drivers can pay via app, contactless, or plug-and-go. Each site will have intuitive interfaces, clear signage, and 24/7 support.
The first six Duracell E-Charge sites will come online in 2025. The Sunday Timesreported that Duracell plans to grow its charging network to at least 100 charging stations with at least 500 charging points by 2030. The hubs will be strategically located along major motorways, near retail and hospitality venues, and at key city gateways.
“Charging your car should be as simple as changing the batteries in your remote,” said Mark Bloxham, managing director of Duracell E-Charge. “Plug. Play. Go.”
Electrek’s Take
I asked Duracell whether it had plans to launch Duracell E-Charge in the US, and I’ll update this story if I hear back. But if you want to know why this American legacy company launched its first DC fast charging network in the UK instead of the US, it’s a simple answer. Business-friendly, stable government policy.
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Ford is cutting prices on the electric pickup by up to $4,000 to offset the loss of the federal EV tax credit. The 2026 Ford F-150 Lightning now offers more driving range at a lower price.
2026 Ford F-150 Lightning prices and range by trim
After the Tesla Cybertruck took the title as America’s best-selling electric pickup last year, the Ford F-150 Lightning is back on top in 2025.
Ford sold over 10,000 Lightnings in the third quarter, nearly double the roughly 5,400 Tesla Cybertrucks sold. Through September, Ford has sold over 23,000 electric pickups. According to Cox Automotive, Tesla has only sold 16,097 Cybertrucks this year, 38% fewer than it did during the same period in 2024.
After the $7,500 federal EV tax credit expired at the end of September, many automakers, including Ford, are bracing for less demand.
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To keep the momentum going, Ford is reducing prices for the 2026 F-150 Lightning by up to $4,000. Company spokesperson Martin Günsberg confirmed with Electrek that Ford is cutting prices on the flash trim by $4,000 and the Lariat by $2,000.
The 2026 Ford F-150 Lightning STX (Source: Ford)
Ford introduced a new base STX model that replaces the XLT for 2026. The 2026 Ford F-150 Lightning STX starts at $63,345, the same as the 2025 STX, but it delivers an extra 50 miles of driving range.
A 123 kW extended range battery powers the STX, providing an EPA estimated 290 miles of range. In comparison, the XLT delivered 240 miles of range from a 98 kWh battery.
The interior of the 2026 Ford F-150 Lightning STX (Source: Ford)
Ford also raided the F-150 parts bin to add a few off-road goodies like running boards from the Tremor, new wheels, and more.
The 2026 F-150 Lightning Flash will start at $65,995, down from $69,995. Meanwhile, the 2026 Lariat and Platinum trims will be priced from $74,995 and $84,995.
Ford F-150 Lightning trim
2025 Starting Price
2026 Starting Price
Range (EPA-est miles)
XLT
$63,345
N/A
240
STX
N/A
$63,345
290
Flash
$69,995
$65,995
320
Lariat
$76,995
$74,995
320
Platinum
$84,995
$84,995
300
2025 and 2026 Ford F-150 Lightning prices and range by trim (excluding destination fee)
Although Ford decided not to move forward with plans for a program to extend the $7,500 EV tax credit, the company is still offering significant incentives to compensate for the loss of it.
The 2025 Ford F-150 Lighting STX is eligible for up to $11,500 in savings in California and other ZEV states. Ford is offering a $9,000 lease cash bonus and an additional $2,000 Ford Power Promise cash bonus. Alternatively, Ford is offering 0% APR financing for 72 months plus an extra $2,000 Power Promise bonus nationwide.
With the 2026 model arriving, Ford is offering a few deals on current Lightning models that are hard to pass up. The 2025 F-150 Lightning XLT is currently listed for lease as low as $279 per month in California. You can use our link to find offers on the Ford F-150 Lightning near you (trusted affiliate link).
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Anker kicks off 50% early-bird discounts on new SOLIX C2000 Gen 2 power station starting from $749
Anker has launched its early-bird savings promotion on its upcoming SOLIX C2000 Gen 2 Portable Power Station which is offering up to 50% off the station and/or its bundle until its official launch on October 28. Subscribing on the page here before then gives you an emailed code to score this new power station at $749 shipped once it goes live on launch day, as well as its bundle options for either an expansion battery or a 400W solar panel at up to $1,249 off. This all-new second-generation model will carry a full $1,499 MSRP outside of sales, while the 400W solar bundle will go for $2,398 and the expansion battery bundle will go for $2,498 – and jumping on these savings now scores you 50% off all the options! Head below to get a rundown on what to expect, and be sure to make your decisions before this juicy deal ends.
Following the same trend as the C1000 Gen 2 model, the brand’s new SOLIX C2000 Gen 2 power station comes as a redesigned update to the brand’s popular F2000 legacy unit, with more power output and faster recharging times, all packed into a lighter and more compact unit. It starts with the same 2,048Wh LiFePO4 battery capacity that can expand up to 4,096Wh with the extra battery bundle. It boasts 11 output ports (five ACs, one TT-30R RV port, three USB-Cs, one USB-A, and a car port) through which it can produce up to 2,400W of steady power and surge as high as 4,000W (beating the F2000 by 400W).
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You’ll have six main ways to recharge the battery on the new SOLIX C2000 Gen 2, including an AC outlet, a gas generator, solar panels, AC and solar together for its fastest speeds (45 mins to 80%, 58 mins to 100%), your car’s auxiliary port, or by utilizing the brand’s new alternator charger that will launch next month. Some other notable features include its 9W idle power draw, which is quite impressive, as well as the brand’s claim that it can run an 190W refrigerator for up to 32 hours, and more.
Jackery’s latest HomePower 3600 Plus power station and bundles at new lows from $1,519 + FREE gifts
Jackery has changed up its Prime Day Sale into the renamed Fall into Power Sale for the last three days of the event, with continued low prices across many units, as well as two tiers of bonus savings and select free gifts. Among the lineup, you’ll find Jackery’s latest HomePower 3600 Plus Portable Power Station starting from $1,519.05 shipped, after using the code OFFER5 at checkout for an additional 5% savings, and you’ll even be getting a FREE refurbished Explorer 300 Plus power station (valued at $299). Last month, we saw it launch with early-bird savings from its $2,799 MSRP to $1,699, with these Prime Day savings promotions giving folks even greater savings of $1,280 ($1,579 with the free station) that lands it at a new all-time low price, which beats out Amazon’s pricing by $80.
Camplux’s 8-gallon mini under-sink electric water heater back at $208 low, more from $136
Looking in on its official Amazon storefront, Camplux is offering some good savings on under-sink and floor/wall mountable electric water heaters, with the 8-Gallon Mini Electric Water Heater standing atop the hill at $207.99 shipped. Normally $260 at full price, discounts before July regularly brought the costs down to $225, with a fall to $212 in late March. We first saw things drop lower to this rate during July’s Prime Day event, with that deal having repeated a few times in the months since. You’re getting another chance at this all-time low price again today, with $52 cut from the going rate.
BougeRV’s 2-bike carrier for SUVs and trucks boasts a tilting feature and 150-pound payload for a $180 low
Through its official Amazon storefront, BougeRV is offering its Lockable Hitch Mount 2-Bike Carrier for SUVs & Trucks at $179.99 shipped. Normally going for $260 at full price, this bike mount was mostly seen dropping as low as $200 until mid-September, when this lower rate first appeared. Now it’s coming back for a second time, giving you a 31% markdown that saves you $80 from the full rate, landing it back at its all-time lowest price.
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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