EV’s circus organ grinds on behind self-dealing carnival barkers spewing meme-backed hyperbole as false and malicious as an Alex Jones podcast. Let’s remove the red noses and grease paint and find the face of EV’s real performers.
Arcimoto (FUV.Q) saw some love in the market this week, climbing 17.52% in share price. The upward trend came on the heels of the company’s announcement on Tuesday that it launched REEFDrive, a zero-emission vehicle sharing program located in Santa Monica, California. REEF, the largest operator of mobility, logistics hubs and delivery restaurants in North America, has an ecosystem of more than 5,000 locations and a team of over 18,000 people. Arcimoto CEO and founder, Mark Frohnmayer commented:
“This is a perfect fit, as REEF provides the real estate and infrastructure, and we provide our innovative electric vehicles at an affordable price that makes driving electric as accessible as possible.”
REEFDrive is offering an initial pricing of $1.00 to begin the ride with Arcimoto’s FUV and then $0.49 per minute thereafter. If you are in the Santa Monica area, or just interested in learning more about the program, visit REEFDrive.com.
Shorts increased during the week to 34.37% of the float, so not everyone is convinced the company is a going concern. However, deals like this, if expanded and added to, will provide a solid base for the EV manufacturer. It will be interesting to see how the company builds on these milestones over the next six months.
Arcimoto currently trades at $11.62 USD per share for a market cap of $427.43 million.
Canoo (GOEV.Q) shot up 10.92% on the boards this week. The company announced it had inked a deal with Panasonic to supply batteries for Canoo’s lifestyle vehicle.
The EV manufacturer intends to commence production in Q4 2022 with VDL Nedcar manufacturing the lifestyle vehicle and supporting U.S. and UK demand.
Canoo has developed a proprietary battery system technology which is directly integrated into the vehicle platform, rather than being boxed and bolted to the frame. The company claims this refinement of design provides class-leading specific energy, cost optimization and space savings. The new design includes built-in safety features that protect the battery in collision events and provides easy access for repairs and upgrades.
I’ve hacked on the company’s split mandate of fleet vehicles and personal transportation and even though the company showed some progress and the market rewarded it for that effort, I am still not convinced this is a winning strategy. It seems shorts agree with me as they continue to hold 32.28% of the float.
Currently Canoo trades at $8.02 per share for a total market valuation of $1.90 billion.
ElectraMeccanica (SOLO.Q) moved up 8.98% in the markets this week as the EV manufacturer announced on Monday that it would attend the Specialty Equipment Market Association (SEMA) show at the Las Vegas Convention Centre from November 2-5, 2021.
EM will be displaying a stock version of its flagship single-seat SOLO EV along with two custom editions.
I like EM’s prospects. It is an industry leader in terms of right-sizing transportation as well as automating its logistics and operations with a digital AI-driven solution. This is a car manufacturer of the future with its feet solidly grounded in the now.
There is a challenge which is more cultural than technical that the company needs to overcome in order to gain a sustainably sized share of the EV market, but once it can peel the space hogs from their SUVs, I see tremendous potential. Do your due diligence!
Currently, EM trades at $3.55 per share for a market cap of $408.05 million.
Fisker (FSR) rose 13.16% in the market this week after getting some free promo on CNBC. Not much has changed since the company announced it would release it Q3 2021 financials after trading closed on November 3, 2021. If you are interested in getting in on the conference call scheduled for 2pm PST on that day, you can access the live webcast on the Fisker’s Investor Relations website.
Shorts remain relatively confident, controlling 28.71% of the company’s float.
Fisker currently trades at $16.05 per share for a market cap of $4.74 billion.
GreenPower Motor Company (GPV.V) it’s been a good week for EV manufacturers as GPMC bumped 8.48% on the boards. Again, not much to report since the company announced the delivery of 24 additional GreenPower EV Stars to Zeem Solutions on October 13th.
I like this venture. It fits the necessary niche of public transit and once the market has been penetrated, the contracts and relationships are long-term.
Of course, like most EV manufacturers today, GPMC needs to optimize it supply line, production, and vehicle technologies to scale up production and reduce costs so that margins can grow.
That said, the company has good leadership with deep sector and market experience, as well as a strong balance sheet. I have high hopes for this one. Do your due diligence!
GPMC trades at $14.26 CAD per share for a total market valuation of $388.90 million.
Kandi Technologies (KNDI.Q) had minimal movement this week only edging up 0.22%. Again, nothing to report, just the simmering economic, energy and supply chain troubles in China.
Kandi is a good contender in the EV space, just depends on if it can weather the storm brewing for Beijing and the CCP. It will be interesting to see how this all plays out over the next six months.
Currently the company is trading at $4.38 USD per share for a market cap of $332.49 million.
Li Auto (LI.Q) had a bumpy week to rest just 0.52% under. No news since its announcement that Li Auto would hold an Extraordinary General Meeting on November 16, 2021, that would democratize the company’s voting structure and decision-making.
Again, this is something Tesla shareholders should have demanded long ago. The company is making itself more attractive to foreign investment and may use this as a lifeline during China’s upcoming financial meltdown. I like the company’s products, better designed, and better assembled than the joke that is Tesla. Do your due diligence!
Li Auto currently trades at $32.63 per share for a total market valuation of $34.29 billion.
Lordstown Motors (RIDE.Q) enjoyed the ride supplied by the insanity of Tesla as the company popped 7.93% on the boards.
The company answered the million-dollar-question yesterday when it announced the timing of its Q3 2021 financial results and webcast.
According to the release, the company will publish its results after market close on November 11, 2021, and will then host a conference call at 4:30 pm EST. As I have said before, putting out financial results after trading usually means investors aren’t going to like what they’re going to hear.
However, if you are morbidly curious, you can access the live webcast on the events page of Lordstown Motors’ Investor Relations website. An archive of the broadcast will be available shortly after the call. I wonder if they will have a Q&A period, because they certainly didn’t announce one, haha.
This one stinks a little and I wouldn’t go near it until it proves that it has moved past the bravado and entered the world of real auto manufacturing. Shorts are on my side as they still control 26.30% of the float. Of course, it’s your money.
Currently Lordstown trades at $5.17 per share for a market cap of $914.97 million.
Lucid Group (LCID.Q) is the winner this week with a 48.72% increase in share price. The company has really performed and will put rubber to the road as of October 30, 2021 when it begins delivery of its world-first 500-mile EV.
Lucky reservation holders will finally get to sit behind the well-crafted wheel of the Lucid Air Dream Edition.
With production roaring at the company’s factory in Casa Grande, Arizona, Lucid plans to deliver the 520 customer-configured Dream Editions with the Grand Touring and Pure models expected to be delivered during 2022. The dream has begun.
I can’t say enough about this company, amazing design, real innovation and production quality, everything you CAN’T get from Tesla.
Lucid is still narrowed into the luxury market, but it will certainly supplant the shitty Musk alternative. I look forward to 2030 when the EV manufacturer will have extended its production line to include more economical lines to once again kick Tesla in the teeth. Despite my optimism and praise, remember to do your due diligence before making any investment decision.
Lucid currently trades at a relatively reasonable $36.99 per share for a total market value of $59.87 billion.
Nikola (NKLA.Q) climbed 10.49% in the market this week on the heels of the company’s announcement on Wednesday that it had signed a deal to lease 10 Nikola Tre BEV from Ring Power Corporation, a member of Nikola’s sales and service dealer network.
The deal outlines a fleet-as-a-service leasing model where Ring Power will provide the sales, repairs and maintenance and energy infrastructure required for the operation of the Nikola Tre BEV trucks throughout the lease term.
Ring Power is partnering with Tri-Eagle Sales, a leading beverage wholesaler in North and North Central Florida, for the operation of the Nikola Tre BEV trucks. Ring Power president, David Alban commented:
“Tri-Eagle’s first battery-electric truck order is a testament to their willingness to partner with Nikola and Ring Power to add zero-emission vehicles in their fleet. We are excited to collaborate with Tri-Eagle as they initiate their adoption of a sustainable transportation fleet.”
Initial deliveries are expected in 2022.
This is a small step in the right direction if Nikola can get past validation and into commercial production. Not convinced they are out of the woods yet, however. Shorts are still strong, controlling 30.78% of the float.
Nikola currently trades at $11.80 per share for a market cap of $4.75 billion.
Nio (NIO) sits in the same position as its Chinese EV manufacturing counterparts, not much movement and an ominous economic future in China. That said, this is the low-priced EV alternative for the everyday driver, and it would be great to see it succeed. Time will tell over the next six months.
Nio currently trades at $39.41 per share for a market cap of $66.84 billion.
Tesla (TSLA.Q) shareholders, go home, you’re drunk! Okay, the meme of an auto manufacturer showed that it was able to sell cars and not just tax credits, however for the million or so cars it dumped on the public since Elon slinked into the CEO chair in no way justifies the lunatic valuation it now enjoys.
If you foolishly think you’re pricing in the future, you’re wrong and have been duped by corrupt self-dealing analysts like Cathie Wood. At its present valuation, Tesla would have to become the entire automotive market on this planet as well as making serious headway into another.
The other over-hyped and under-performing/non-existent value propositions are solar panels and energy storage. The many-toothed weasel recently admitted that the solar panel segment is basically dead in the water and never performed as planned. As for power storage, call Tesla when you want to sue the company for causing fires and taking out your power grid.
This market blindness and emperor-wears-no-clothes level of optimism speaks of a meme-driven post social media society desperate for yield once afforded by bonds and savings accounts. Unfortunately, these paper riches are a false economy and when the real-world pits out over the next six months, the idiots who threw their life savings behind charlatans like Musk, will find they cannot extract their wealth, or the fabled dollars they accrued won’t buy more than a loaf of bread as inflation skyrockets.
I want to touch on the Hertz deal briefly. Hertz just claimed bankruptcy protection, where the hell is it going to come up with the $4.6 billion to execute this transaction? I’ll tell you. Tesla is subsidizing the sale and Uber is throwing in to allow Hertz to only bill Uber drivers $299/month to drive the fleet of Model 3’s. Those vehicles better NOT have FSD installed. In the end, this ‘sale’ isn’t only bad business, but it reeks of monopolistic behaviour facilitated by insane market valuations and cheap money.
Well, we are the architects of this calamity. We willingly allow tax cheaters and frauds to lead us to slaughter. Elon Musk and his conniving sibling, Kimball, are a bloody stain on the free market and democracy. Despite his petulant mathematical reasoning, Elon owes almost his entire fortune to the commonwealth and the infrastructure that allowed his rise.
Any personal asset holdings over one billion dollars, should be taxed at an 80% rate. This isn’t a moral argument; this is an economic fact. There are no ‘great men’; Musk, Zuckerberg, Dorsey, Bezos, Koch, and all titans to the beginning of time are results of the collective beneath them and as such, they are obligated to support that infrastructure so that it can continue to prosper, instead of sacking it for personal gain. There are no lonely geniuses, just megalomaniacs with no vision beyond their own ego.
As I said, we are responsible for this market blunder and if we continue to lap up the lies, the cost will be more than we ever bargained for, and the damage will last for generations.
I would burn Tesla stock before owning it. It’s your money though, so you’re free to ruin the world as you choose.
Workhorse Group (WKHS.Q) rose 7.85% this week as the company announced on Tuesday that it would hold a conference call on Tuesday, November 9, 2021, at 10 am EST to discuss financial results as well as the company’s plans and outlook.
For those who just want to read, Workhorse’s financial results will be posted in a press release, just prior to the call.
If you would like to attend the call and grill management over what’s been happening this year, you can call the conference number 10 minutes prior to start time and an operator will register your name and organization. Here are the details:
- Date: Tuesday, November 9, 2021
- Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)
- U.S. dial-in: 877-407-8289
- International dial-in: 201-689-8341
Workhorse will also host the call live and tele replay here as well as the company’s Investor Relations section on its website.
Not a huge fan of this one, still don’t hate it as much as Tesla. Maybe the new management can pull the company’s collective butt out of the fire. Do your due diligence!
Workhorse currently trades at $6.73 per share for a total market valuation of $863.92 million.
XL Fleet Corp (XL) edged up 1.86% this week on no news. Still waiting for Q3 2021 financials. Wish the company would say something, as the silent air doesn’t bode well. As I have said, I like the company’s EV upgrade approach and the deals it was beginning to make. I can only hope it will continue to execute.
XL Fleet currently trades at $5.48 per share for a market cap of $763.73 million.
Xpeng (XPEV) kept a relative straight line in terms of share price value, edging up 0.63% this week. The company announced on Monday that it planned to roll out its XPILOT 4.0 full-scenario advanced driver assistance software in H1 2023.
The innovations Xpeng announced on its 1024 Tech Day promised high-voltage supercharging technologies expected to significantly boost charging power and efficiency and a robotic technology designed to support superior autonomy.
The EV manufacturer also unveiled its design for a next generation flying car that like a Transformer would mechanically shift from highway travel to aviation with the push of a button.
If you want to check out the details of the Tech Day presentation, you can access images and videos on the Xpeng 2021 Tech Day Library.
I like Xpeng and can’t wait to see how it pulls through the next six months. Do your due diligence!
The company currently trades at $46.63 per share for a market value of $39.90 billion.
Now back to the traditional auto makers:
GM (GM) CEO Mary Barra still states that the company will catch Tesla in EV sales by 2025. What do you think of Tesla’s valuation now? Bravado or not, Barra and GM will not back down, making Tesla a deluded dreamer’s investment. I can’t wait for the blood to spill.
Ford (F) and Amazon have also joined the anti-Tesla team. Ford already has a 1.24-billion-dollar stake in Rivian, the EV truck manufacturer readying for an IPO with a EV pickup that puts Elon’s Cybertruck folly to shame. With Amazon formally announcing its 20% stake in Rivian, you can be assured the Rivian R1T EV pickup will make a strong market entry. Maybe Musk should take the piss so much in social media, but he isn’t a real business leader so that will probably never happen.
Toyota just unveiled the production version of its bZ4X, the first of seven EVs Toyota has planned for release. The vehicle will come in front-wheel drive and all-wheel drive with a 150kw motor capable of accelerating from 0-60 in 8.4 seconds. The all-wheel drive will feature two 80kw motors capable of accelerating 0-60 in 7.7 seconds.
Toyota also plans to offer a solar panel option that will generate approximately 1120 miles worth of free power generation.
Consumers can expect to see the bZ4X in their local Toyota showroom in the U.S. and other markets in 2022.
Volkswagen’s CEO has turned the other cheek and publicly stated that Tesla has set the bar for EVs. My guess this is to avoid the useless pursuit of trading jabs on social media. For me, the statement that Tesla set the bar, means the bar is pretty low and it won’t take much for other manufacturers to catch up and pass the petulant technoking.
Nissan hasn’t much to report besides the fact that the company is shifting to a new assembly technique in the production of its EVs entitled SUMO, or simultaneous underfloor mounting operation. Sounds neat, looks even cooler, would love to see how it performs under commercial production.
Yup, I’m done. I’ve ridden the Ferris wheel and fed the elephants, its time to take my cotton candy and go home. It’s a carnival out there, ready to leave you penniless with promises. That said, do your research, identify your picks, and make this a better world. Good luck to all!
–Gaalen Engen
