EVs today: due to time constraints, I will come back to this later, but a quick look suggests move EVs are "up" today on US equity markets. We'll check in later today.
Disruptive:
- EVs: link here. Scorecard.
- graphite
- not for me. "Energy transition is dead" is followed here.
- EVs charging.
Add another on to the scorecard: Sony Honda Mobility, Inc. Link here.
EV manufacturers:
I don't have time to explain this or connect the dots. See if you can see what I'm suggesting.
Some years ago, maybe six, seven years ago, ICE manufacturers were setting sales records (volume) but not making much money. It turned out that a lot of their sales were fleet sales to the car rental agencies: fleet sales are often once a year; "base" models"; and, little in margins. So, lots of sales not necessarily all that great for the bottom line.
Now, fast forward to 2022. Tesla bulls suggest that the one-year wait (and more) suggests Tesla is doing very, very well. They forget that by this time next year there will be many, many luxury EVs coming to market. Luxury car owners don't like waiting around for new toys. And there is no moat between Tesla and luxury EV brands like Porsche, et al.
Bottom: Tesla bulls looking at Tesla backlog for orders are looking at the wrong metric, just as I was looking at the wrong metric six, seven years ago when I was looking at automobile sales records (volume).
Tesla has no moat.
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