InvestorPlace – Stock Market News, Inventory and Trading
As we prepare to host September, electric vehicle (EV) inventories, such as Electrameccanica vehicles (NASDAQ: SOLO), wonder what will be next for the booming industry. Since the beginning of the year, inventory HAS ONLY increased to nearly 40%. By comparison, the SPDR Kensho Smart Mobility ETF (NYSEARCA: HAIL) recorded a 23% gain.
According to a recent study conducted through Lew Fulton of the University of California, Davis, “The emergence of the ‘3 revolutions’ in transportation (automation, electrification and shared mobility) raises a series of questions about how consumers will do it in the future and under what situations there would possibly be an immediate adoption of various services.”
2020 has made several sectors of the economy winners. One of them are the manufacturers of electric vehicles, which use electrical energy stored in rechargeable batteries to force the vehicle’s engine. The shares of Tesla (NASDAQ: TSLA), Nikola Motors (NASDAQ: NKLA) and Nio (NYSE: NIO), 3 of the most followed companies, have risen by approximately 380%, 280% and 340%, respectively, in line with the previous year. Date.
Canadian company Electrameccanica Vehicles sells a vehicle somewhat different from those presented through other electric vehicle manufacturers. If you’ve seen your flagship car, the Solo EV, you’ve noticed the front look like a car. But in the back, all you see is one wheel. In fact, it’s an inverted tricycle. August 26 was the official start date of production.
ElectraMeccanica published its monetary effects of the current quarter in August. CAD revenue 0.02 million, compared to CAD 0.2 million in the same quarter last year. The minimisation of income is basically due to the minimization of custom roadsters. Net CAD loss of CAD 12.9 million, compared to the net source of CAD revenue of 3.3 million in the same quarter last year.
“As we enter large-scale production in the coming days, we will continue to leverage our lightweight production style to better manage our use of money and evolve our operations,” said CFO Bal Bhullar.
The company’s effects were to inspire confidence in a long-term investment.
The flagship car, the Solo, is a single-occupant electric electric vehicle from a single occupant. Management markets it as a short-lived vehicle for travel. It has a diversity of one hundred miles and a time rate of 2.5 hours. Retail value is $18,500. According to ElectraMeccanica, “119 million Americans with private cars, and 105 million of them alone.” Management would like to capture a giant component of those rs.
The compactness and value of the vehicle can be attractive. Still, the company warns drivers: “Its rear-wheel drive formula works more productively when driving at more than five degrees C, in dry (or wet) conditions. If there is ice, heavy snow or heavy rain, let your Solo take a break! This precaution may mean that many American and especially Canadian drivers think twice before buying the car.
ElectraMeccanica Vehicles plans to build a production facility in the United States in early June, Control announced that it had “reduced its list to the next five states (without any order): Arizona, Colorado, Florida, North Carolina and Tennessee.”
However, if the expansion plans proposed by the company materialize, investors can sell the shares as temporarily as they have invested it.
With increased interest in energy resources and select cars, retail investors are focusing on the movements of electric car manufacturers. If you think electric cars will continue to attract the attention of drivers, you may need to keep ElectraMeccanica on your radar.
However, the percentage value is likely to be volatile and can pass quickly in any direction. Therefore, I urge you to invest in percentages ONLY if you have risk capital at a percentage.
Tezcan Gecgil has worked in investment control for more than two decades in the United States and the United Kingdom, in addition to formal higher education, adding a PhD. in the field, it also passed the 3 degrees of the Certified Market Technician (CMT) exam. His hobby is the commercial characteristics of technical research by fundamentally sound companies. She likes to set up covered weekly calls to generate revenue. It also publishes educational articles on long-term investments. At the time of writing, Tezcan Gecgil held no position in any of the previous titles.
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