Vietnamese conglomerate Vingroup has abandoned plans to build a 4.8-gigawatt liquefied natural gas power plant in Haiphong (Vietnam's major northern port city) — which would have been the country's largest — and will instead pursue wind, solar, and battery storage energy for the project. Speaking at a shareholder meeting, Group Chairman Pham Nhat Vuong also announced that the company's Green SM electric taxi unit will go public in the second half of 2028, a move he described as likely to generate "enormous value" for the group. Vuong added that EV subsidiary VinFast is now expected to break even in 2026, a slight delay from earlier targets, with projected deliveries of 300,000 vehicles this year, as Vingroup sets its sights on a net profit of 35 trillion dong ($1.33 billion) for 2025.