No, there are a several rules about where and how a power driven vessel is deemed to be either the give way or stand on vessel. A link is provided below for both International and Inland Rules. Please refer to Rules !3, 16,17 & 18.
If they are BOTH power driven vessels, the vessel to "right" (Starboard) would be the "stand on" vessel, maintaining course and speed. The Vessel on the "left" (Port) is the "give way" vessel and will have to (if) possible avoid crossing in front of the stand on vessel. Please refer to the link below. Rule 15
If you are operating a motorboat and your motorboat is being overtaken by a sailboat, you should maintain present course and speed. The vessel that is overtaking another vessel is the give-way vessel, regardless of whether it is a sailing vessel or a power-driven vessel. The vessel being overtaken is always the stand-on vessel.
When there is a danger of collision, the "stand-on" vessel is the one that must maintain its course while the other must take avoiding action. Sailboats usually are the stand-on vessel when meeting a power-driven vessel, even if that vessel is another sailboat (if its engine is powering the boat, and regardless of whether its sails are raised or not). There are exceptions: if the power-driven vessel is "working," such as a fishing boat dragging nets, or the power-driven vessel is confined to a narrow channel due to its draft, then the sailboat must stay out of the way, by altering course if necessary. If a collision is imminent and the other vessel shows no signs of altering course, then the sailboat should take whatever course is necessary to avoid it.
The boat being overtaken is always stand-on, regardless of propulsion type. Rule 13.
When two power driven vessels are meeting or crossing, the vessel that is to the starboard (right) is the stand on vessel. The stand-on (privileged) is to maintain course and speed. Please refer to the link below on the "Stand on" vessel.
When a sail boat overtakes a power boat the power boat is the stand on vessel.
power boat
The power vehicle is on the right, therefore it is looking at the other vehicle's green light, making the vehicle on the right the stand on vehicle (meaning it maintains present course and speed).
The power vehicle is on the right, therefore it is looking at the other vehicle's green light, making the vehicle on the right the stand on vehicle (meaning it maintains present course and speed).
power boat
The question should be "When is the sailboat the stand-on vessel...? The answer is if the sailboat has an engine and if it is in operation, the sailboat is treated as a power boat in determining stand-on status. The right-of-way would then follow the rules for power boats.
The overtaken vessel is ALWAYS the "stand-on" vessel, ALWAYS! Please refer to Rule 13 of the International Rules of the Road, AKA 72 COLREGS.