Running Out Of Fingers And Toes -- Yet Another Start-Up -- October 14, 2020

Link here.

• UK-based manufacturer: Arrival Ltd
• BlackRock: $118 million investment
• investor values the manufacturer at $3.5 billion
• start-up's existing backers: Hyndai Motor and Kia Motors
• those three with similar investments
• UPS also invested; amount unknown
• niche: electric powered city buses and vans with 300-mile range -- for those really long city commutes
• Arrival Ltd has orders for 10,000 vans fro UPS in Europe, US through 2024
• micro factories in Europe and US, including a new facility in right-to-work state South Carolina
• not yet making money: SPAC merger possible
• BlackRock: world's largest money manager
• oversees almost $8 trillion in assets
• meanwhile, Rivian:
• vans slated for Amazon
• Rivian backers
• BlackRock
• Ford
• T Rowe Price Group
• Soros Fund Management
• Fidelity Investments

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New Energy Vehicle Sales

Mixed globally. Link here.

Tesla in China actually falling behind GM-SAIC-Wuling joint venture and BYD. This, combined with Tesla's announcement after these figures came out that it (Tesla) was cutting prices (again) on its number one sedan, the Model S, suggests that Tesla may be hitting some headwinds.

SAIC in the story above is a Shanghai, China, company, not the US innovator company.