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VinFast is building another factory in Vietnam

Credit: VinFast

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Vietnamese electric vehicle (EV) startup VinFast has announced plans to build an additional production facility in its home country, which is expected to double the company’s output and help meet increasing demand.

On Sunday, VinFast said it is looking to build its second factory in Vietnam, which it says will produce 300,000 vehicles per year, or the same production levels as its Haiphong plant (via Reuters). The new factory will be located in the central Ha Tinh province and will produce the popular VF3 city car and the VF5 crossover, and VinFast expects to begin operating the facility as soon as next July, according to the company.

“Demand in international markets is growing rapidly, so the construction of an additional electric car factory … will create a solid foundation for an important and explosive development phase ahead for VinFast,” said Vingroup CEO and Chairman Nguyen Viet Quang.

VinFast market cap reaches $191B, comparable to Tesla’s valuation in 2020

READ MORE ON VINFAST: VinFast offering customers massive payouts for service issues and delays

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In the first nine months of 2024, VinFast sold under 45,000 vehicles globally, though it gained a substantial number of preorders for the VF3 in Vietnam with 27,649 pre-orders received within 66 hours. The company also used a unique strategy of selling its EVs across e-commerce platforms, and over half of the company’s preorders were taken online.

Last month, VinFast gained commitments from parent company Vingroup for a round of funding worth $3.4 billion and expected to financially sustain the EV maker and help it reach profitability by 2026. Thus far, VinFast has managed to secure around $17 billion in funding from the parent company and from VinFast Founder Pham Nhat Vuong, who has invested roughly 50 trillion dong (~1.97 billion) of his own money.

The automaker also has dealership and aftersales service agreements in the Middle East and Europe, and it’s aiming to establish a production facility in Thoothukudi, India, with an eventual production capacity of 150,000 EVs per year. VinFast has also begun deliveries of the VF8 in the U.S. in 2022, though the vehicle currently faces an investigation from the National Highway Traffic Safety Administration (NHTSA) after an accident involving the vehicle resulted in multiple fatalities earlier this year.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Tesla Model Y wins 2026 Drive Car of the Year award in Australia

The Model Y is already Australia’s best-selling EV in 2025 and the tenth best-selling vehicle overall.

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Credit: Tesla

The Tesla Model Y has been named 2026 Drive Car of the Year overall winner, taking the top honor after being judged as the vehicle that “moves the game forward the most for Australian new car buyers.” 

The Model Y is already Australia’s best-selling EV in 2025 and the tenth best-selling vehicle overall, but the vehicle’s Juniper update strengthened its case with new ownership benefits and expanded software capability.

Drive’s overall award compares category winners and looks at which model most significantly advances the local new car market. In 2026, judges pointed to the Model Y’s five-year warranty and the availability of Full Self-Driving (Supervised) as a monthly subscription as key differentiators.

Priced from AU$58,900 before on-road costs, the all-electric crossover SUV offers a lot of value compared to similarly sized petrol and hybrid rivals. The ability to access Tesla’s Supercharger network across Australia also reduces friction for buyers moving to EV ownership.

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Owners can add FSD (Supervised) for AU$149 per month. While it still requires driver oversight, the system expands the vehicle’s advanced driver-assistance capabilities and reflects Tesla’s software-first approach.

“The default choice for a reason. The Tesla Model Y makes the transition to electric both effortless and rewarding,” Drive wrote.

The 2025 Model Y facelift also sharpened the vehicle’s exterior, highlighted by a distinctive rear light bar that gives the crossover SUV a more modern road presence.

Drive described the Model Y as a benchmark for combining practicality, efficiency and technology at an accessible price point. With eligibility for federal Fringe Benefit Tax exemptions through novated leasing, its value proposition has improved for numerous buyers.

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For 2026, the Model Y’s combination of range efficiency, charging access and software capability proved decisive. Ultimately, the award all but cements the Model Y’s position as one of the most influential vehicles in Australia’s evolving new-car market today.

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Elon Musk reiterates rapid Starship V3 timeline with next launch in sight

Musk shared the update in a brief post on X, writing, “Starship flies again next month.”

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Credit: SpaceX/X

Elon Musk has confirmed that Starship will fly again next month, reiterating SpaceX’s aggressive timeline for the first launch of its Starship V3 rocket.

Musk shared the update in a brief post on X, writing, “Starship flies again next month.” The CEO’s post was accompanied by a video of Starship’s Super Heavy booster being successfully caught by a launch tower in Starbase, Texas. 

The timeline is notable. In late January, Musk stated that Starship’s next flight, Flight 12, was expected in about six weeks. This placed the expected mission date sometime in March. That estimate aligned with SpaceX’s earlier statement that Starship’s 12th flight test “remains targeted for the first quarter of 2026.”

If the vehicle does indeed fly next month, it would mark the debut of Starship V3, the upgraded platform expected to feature the rocket’s new Raptor V3 engines.

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Raptor V3 is designed to deliver significantly higher thrust than earlier versions while reducing cost and weight. Starship V3 itself is expected to be optimized for manufacturability, a critical step if SpaceX intends to scale production toward frequent launches for Starlink, lunar missions, and eventually Mars.

Starship V3 is widely viewed as the version that transitions the program from experimental testing to true operational scaling. Previous iterations have completed multiple integrated flight tests, with mixed outcomes but steady progress. Expectations are high that SpaceX is now working on Starship’s refinement.

An aggressive launch schedule supports several priorities at once. It advances Starlink’s next-generation satellite deployment, supports NASA’s lunar ambitions under Artemis, and keeps SpaceX on track for its longer-term Moon and Mars objectives.

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Tesla Model Y L six-seater approved for Australia ahead of launch

The variant was listed as YL5NDB on the Australian government’s ROVER approval website.

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Credit: Tesla Asia/X

Tesla’s six-seat, extended-wheelbase Model Y L has been approved for sale in Australia, as per newly published government documents.

The variant, listed as YL5NDB on the Australian government’s ROVER approval website, has confirmed that Tesla has received regulatory clearance to offer the extended Model Y to domestic customers.

Documents seen by Drive show that the Model Y L has been approved in Australia in a single dual-motor, all-wheel-drive configuration. While Tesla has not formally announced a launch date, vehicles are typically approved for Australian sale several months before arriving in showrooms.

The Model Y L is a longer version of the regular Model Y, designed to accommodate a six-seat layout with two seats in each row. It measures 177mm longer overall than the regular Model Y, at 4969mm, and features a 150mm longer wheelbase at 3040mm.

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Australian approval documents list the Model Y L with the same nickel-manganese-cobalt battery pack used in the regular Model Y Long Range, which is expected to have a gross capacity of about 84kWh and a usable capacity of about 82kWh. Output is officially listed at 378kW in government filings, though real-world peak output may differ.

The Model Y L replaces the regular Model Y’s second-row bench with two captain’s chairs featuring heating, ventilation, and power adjustment. Heated third-row seats are also included.

Additional upgrades reported by Drive include an 18-speaker sound system, new front seats with single-piece backrests, and continuously variable shock absorbers. The only wheel option listed for the Australian model is 19-inch wheels.

In Europe, where the Model Y L has also received approval but has not yet launched, the variant is expected to claim up to 681km of WLTP range.

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