EV Manufacturers Raising Cash And Their Investors' Response -- October 11, 2023

Polestar:

• wants to raise money;
• stock is falling.
• link here.

From the linked article: 

A potential capital raise from Swedish electric-vehicle maker Polestar Automotive has its American depositary receipts sliding. That says more about Polestar investors than about the company.

Polestar (ticker: PSNY) showed its intention to raise $1 billion. That isn’t a shock. Still, the hint of new capital is pushing down shares sharply.

Tuesday evening, Polestar filed a “shelf” registration with the Securities and Exchange Commission. There are no immediate plans to sell shares or raise debt. A shelf registration gives the company the option to sell securities by registering them ahead of time. A company has securities “on the shelf” ready to sell when the time is right. It isn’t a great name.

The filing isn’t unusual. The stock reaction shows how skittish investors have become over EV start-ups’ need to raise additional money.

Rivian stock dropped about 23% on Oct. 5 after announcing plans to sell $1.5 billion in convertible notes. Everyone knows or should know, that Rivian will need more capital to build its business. Wall Street doesn’t project positive cash flow for most of this decade. Still, investors and Wall Street reacted harshly with reasons given ranging from the timing was poor to the raise was a surprise.

EVs -- POVs -- Cars, Pick-Up Trucks; Fleets -- Minivans, Vans -- Scorecard

Locator: 33021EVs.

October 29, 2023: see this post. No more blogging about EVs. There will be exceptions.

August 8, 2023: as of today, I am no longer following EVs. I may update or blog about EVs occasionally, but this chapter in my blogging life is pretty much over. Tesla should be rolling out its Cyber Truck this month after years of anticipation.

Unmitigated disaster: tag. 

Scorecard 

November 7, 2025: Ford will likely discontinue producing EV pickups -- the F-150 lightning. Link here.

August 5, 2025: top ten EV auto manufacturers. 

2024: world's ten largest EV manufacturers. To get on the list, need at least one-half million

• #1: China, BYD, 3 million
• #2: US, Tesla, 1.8 million
• #3. Germany, VW Group, 0.8 million
• #4. US, GM, 0.5 million
• #9. China, GAC/Polestar, 0.5 million
  
• NO LONGER LISTED among the top ten: FORD
• Rivian: 60,000 (one-tenth of what is need to get on top ten list)

Major Updates

2024: link here.

Major Developments

October 18, 2024: Barra says GM will make a profit on EVs this year (2024) and will phase out ICE vehicles by 2035.

March 18, 2024: Fisker to stop production; will seek cash infusion.

March 18, 2024: Rivian can use Tesla chargers. 

March 11, 2024: Endurance EV in bankruptcy; process began in early 2023.

February 29, 2024: EV wrap. Arrival in bankruptcy; Fisker may soon be in bankruptcy.

February 27, 2024: Apple scraps plans for iCar (EV, autonomous driving): Ford, GM have already scaled back plans; Ford announced it is suspending deliveries of its F-150 Lightning.

January 5, 2024: Ford loses EV bragging rights to GM: link here. Best summary to date.

December 21, 2023: Mullen is up 75% today.

• This was another company a lot of folks like when it bought a bankrupt EV company. Here where we are today.
• Mullen has just announced a 100-1 reverse split.

December 14, 2023: GM Cruise to cut 24% of employees; dismisses nine key leaders after safety review.

December 11, 2023: Ford to cut planned production of F-150 Lightnings in half for 2024.

December 11, 2023: Vietnam's VinFast, to build in North Carolina.

December 10, 2023: deep dive -- F-150 Lightning.

December 7, 2023: EVs: there, they said it, the fad is over. The big story: how will F, GM, Stellantis manage?

• Luxury cars. Period. Dot. Link here.
  
• Nikola: the company is raising more money. The stock is plunging. Barron's.
  
• Tesla: smaller Model 2 could be coming out in full production next summer; Austin, TX, first; then, a new Mexico plant (not "New" Mexico, but "new" Mexico); link here.

November 16, 2023: Renault IPO: the EV Ampere. 

October 26, 2023: following the UAW strike, all three major, legacy, non-EV US auto manufactures will delay production of their EV programs. One has said so explicitly; the others will fall in line.

October 20, 2023: Mullen update. Hope springs eternal.

August 5, 2023: ELMS, Mullen, Canoo update. Trucks.

August 4, 2023: Fisker update, Nikola update, 2Q23.

July 31, 2023: reality sucks for Ford. 

July 26, 2023: showing some life; a turnaround?

July 12, 2023: Lucid falls short.

July 5, 2023: Amazon-Rivian vans rolling out in Europe.

July 5, 2023: EV truck maker Nikola pulls plug on battery supplier Romeo.

July 2, 2023: Tesla deliveries reported.

June 23, 2023: link here. EV manufacturers voting with their batteries; partnering with Tesla; saying no to US government preference.

May 2, 2023: Daimler unveils freightliner eM2, medium-duty truck. Battery: Detroit ePowertrain (?).

Tracking

EVs: in round numbers --

• 2022:
• F: sold 61,575 EVs in 2022: became second-largest EV manufacturer in the US, behind Tesla
• F-150 Lightning price:
• $40K to $92K
  
• GM:
• sold fewer than 25,000 EVs in 2022
• 2023:
• Lucid, expectation: 2,000 EVS, 2Q23. Actual: 1,404 (two less than 1Q23).
  
• Tesla: 1.1 million EVs
• F: 500,000 EVs -- original estimate
  
• run rate
• F-150 Lightning: 150,000 annual run rate
• on track to triple production y/y
• sold 3,600 through February, 2023
• list price: $52K to $97K
  
• Mustang Mach-E: 210,000 annual run rate
  
• GM:
• to deliver 400,000 EVs by end of 2023, link here; 
• in fact, they barely delivered 75,000 EVs for the full year -- see below.
  
• will build a third factory to build thee Silverado EV
• currently: Factory Zero and the Orion assembly plant
  
• 2024:
• GM: lowered their forecast; now plans to deliver between 200,000 and 250,000 in CY24.
  
• 2025:
  
• 2026:
• Tesla:
• F: 2 million
• to begin T3 pickup production; full capacity: 600,000 units / yearly
  
• GM:
• Toyota: to have ten models 

So, how many EVs did GM sell in 2023? Holy mackerel! Are you kidding me?

EV Manufacturers

Rivian: tracked here.

Updates

December 11, 2023: VinFast. Link here.

October 20, 2023: Mullen. Link here.

October 20, 2023: BMW. Link here.

June 29, 2023: Polestar adopts Tesla's supercharging system.

June 28, 2023: Volvo adopts Tesla's supercharging system.

June 27, 2023: Tesla -- seems to have become the "universal supercharger."

June 27, 2023: Lordstown declares bankruptcy.

June 26, 2023: huge WSJ article updating how bad this sector is.

June 12, 2023: NIO cuts expansion plans.

June 4, 2023: Ford-Tesla partner on charging stations across the US.

June 1, 2023: Ford CEO says EVs won't reach parity with ICEs until 2030.

May 11, 2023: Endurance, a TKO; Polestar on the ropes. 

May 9, 2023: Nikola exits joint venture in Europe.

May 2, 2023: BYD overtakes VW as #1 car in China.

April 17, 2023: GM ditches CarPlay. Google the story for updates.

April 17, 2023: pricing -- Lucid, Porsche, Renault. 

April 8, 2023: Ford raises prices on F-150 Lightning by 50%; three raises in three months; Tesla cuts prices five time in five months.

April 8, 2023: Toyota throws in the towel. 

March 30, 2023: FF 91 Future debuts after months-long delay.

March 29, 2023: Polestar -- six links.

March 24, 2023: Ford announces T3 pickup; battery partner SK On.

March 8, 2023: EV update. Next twelve months critical for EV manufacturers.

February 24, 2023: Sono Motors calls it quits.

February 15, 2023: panelists on "Fast Money" are really, really negative on Ford. Tesla, #1, followed by GM. Ford shares have gone nowhere for 25 years -- the golden age of automobiles. Speaking of which, Ford extended that EV production shutdown due to battery fires.

January 5, 2023: link here -- Stellantis introduces a pickup EV prototype. Posted January 5, 2023.

January 5, 2023: link here -- PS5 on wheels. Honda, Sony partner: Afeela.

December 27, 2022: link here -- market / shares. 

December 17, 2022: link here.

• TuSimple, self-driving truck company, to lay off half its workforce;
• Tesla plans to announce Mexico EV plant as soon as next week;

December 12, 2022: Rivian steps back from partnership with Mercedes-Benz.

December 7, 2022: worst-kept secret.

December 4, 2022: SUV of the year. An EV.

August 29, 2022: Honda, LG Energy to build first US EV battery factory somewhere in Ohio.

August 24, 2022: the UK-based Arrival. 

August 15, 2022: this is an investor's bill -- the Biden Bill -- EVs, 2022 Biden Bill;

August 11, 2022: Rivian: a "zombie" company. Link here.

July 22, 2022: Amazon begins rollout of thousands of Rivian EVs. Also Stellantis Ram. 

July 17, 2022: the giant car companies that want to dominate EV sales.

July 14, 2022: Kia! Hyundi and Kia rising to the top.

July 8, 2022: Argo AI lays off 5% of its workforce.

July 7, 2022: update Rivian and Genesis (Hyundai) EV 70. 

July 4, 2022: Lordstown -- Foxconn -- Endurance pickup.

June 24, 2022: Polestar begins trading today. SPAC / Volvo. 

June 17, 2022: new EV partnership added today -- Sony Honda Mobility.

June 8, 2022: Phoenix Motor drops 39% on first day of trading.

June 7, 2022: add the Polestar SUV to the list of EVs. 

May 30, 2022: GMC's EV Hummer, starting at $108,700. Folks aren't buying it to save money on gasoline. 

May 28, 2022: delivered -- first F-150 Lightning; it was a Platinum edition; $100K after all priced in. 

May 22, 2022: announced -- Hyundai, Georgia, USA. 

May 7, 2022: announced -- Saudi Arabia makes $6 billion investment in Lucid. Will also invest $32 billion in mining the desert for rare earth metals. 

April 30, 2022: both F (Ford) and AMZN (Amazon) took huge paper losses on Rivian in their 1Q22 earnings. Ford shares, 1Q22, dropped from $25 to $14. How bad was it?

April 13, 2022: Louisville, KY

• battery manufacturer, Envision AESC
• Warren County, $2 billion
• electricity for plant, all renewable, provided by TVA

April 4, 2022: Germany automobile manufacturing work stoppage due to Putin's War.

March 28, 2022; Nvidia -- huge in autonomous driving.

March 3, 2022: GM sells its stake in Lordstown. 

March 3, 2022: Hyundai, Foxconn, and Luxshare Precision preparing to team up with Apple's iCar.

March 2, 2022: with invasion of Ukraine by Russia, both Rivian and Lucid shares are tanking.

September, 2021: Ford, EV battery manufacturing plant, Hardin County, $6 billion.

**************************
Scorecards 

Scorecard, January 5, 2021.
Scorecard, November 22, 2021.
Apple, Foxconn, November 19, 2021.
Scorecard, November 18, 2021.

******************************
Commentaries

January 5, 2022.
January 4, 2022: dam will break, summer of 2022 -- flood of new cars start hitting the market.

 ************************************
Scorecards

Scorecard addition, October 20, 2023: BMW. Link here.

Scorecard addition, August 22, 2023: Vinfast, VFS, Vietnam. Link here.

Scorecard addition, August 5, 2023: Canoo (GOEV). Should have been added a long time ago. See update here.

Scorecard addition, March 24, 2023: Ford T3 pickup to begin production, 2026; battery partner SK On.

Scorecard addition, June 17, 2022: new EV partnership added today -- Sony Honda Mobility.

Scorecard addition, May 28, 2020: Electric Last Mile Solutions, Inc. ELMS.

Scorecard addition, April 30, 2022: Atlis.

Scorecard addition, April 4, 2022: Volvo Polestar 2. 

Scorecard additions, January 5, 2021, link here -- Amazon partners with Stellantis; separate story, new battery manufacturer, Our Next Energy (ONE).

• Ford -- SK On battery -- Blue Oval City, Tennessee -- posted March 24, 2023;
  
• Hyundai -- Georgia, USA -- posted May 22, 2022
• ARVL: posted January 5, 2023, but story broke in 2022; moving from UK to UUS
  
• VinFast -- Nvidia -- posted March 30, 2022
  
• Rivian -- Amazon -- Ford out -- GlobalFoundries 
• Atlis -- Mesa, AZ -- Schwab (body, Michigan-based) -- XP Platform; in-house battery
  
• Stellantis -- Amazon -- see what happened to Rivian when this was announced, January 5, 2022;
• Pickup EV prototype: introduced; no details.
  
• Sony-Honda announce Afeela -- January 5, 2023: link here -- PS5 on wheels.
• Sony -- SUV announced -- link here.
• June 17, 2022: link here. Sony-Honda partnership: Mobility, Inc.
  
• Lordstown -- Apple -- GM (sells entire stake) -- silicon M1 chip (GM currently depends on seven chip manufacturers)
• Lordstown -- Foxconn -- Endurance pickup -- added July 4, 2022
  
• Tesla -- chips (?)
• Lucid - chips (?) -- Saudi Arabia ($6 billion stake) -- Casa Grande, AZ 
• Volkswagen, the ID4: five plants worldwide; ID4 will start rolling out from VW's Nashville, TN, plant. 
• GM --
• F -- Lightning-F-150 --
  
• Electric Last Mile Solution, Inc. (ELMS)
  
• EV battery plant, Hardin County, KY -- announced September, 2022
  
• Volkswagen: Ford and VW continue partnership.
• Polestar: Volvo / SPAC. 
  
• Envision AESC, EV battery manufacturer for multiple car companies, Hardin County, KY;  announced April 13, 2022;'
• Phoenix Motor: added June 8, 2022.
• Arrival: UK-based, added August 24, 2022.
• Faraday FF 91 Futurist, see above, updates. Luxury car. Added March 30, 2023.
• Renault. Added April 17, 2023. Link here.
  

Scorecard changed, November 22, 2021.

EV scorecard just a few days ago, link here:

• Rivian -- Amazon -- Ford -- GlobalFoundries
  
• Lordstown -- Apple -- GM -- silicon M1 chip (GM currently depends on seven chip manufacturers)
  
• Tesla -- chips (?)

Landscape changed:

• Rivian -- Amazon -- Ford out -- GlobalFoundries
  
• Lordstown -- Apple -- GM -- silicon M1 chip (GM currently depends on seven chip manufacturers)
  
• Tesla -- chips (?)
• Lucid - chips (?) -- Casa Grande, AZ

The scorecard, November 18, 2021:

• Rivian -- Amazon -- Ford -- GlobalFoundries
  
• Lordstown -- Apple -- GM -- silicon M1 chip (GM currently depends on seven chip manufacturers)
  
• Tesla -- chips (?)

Apple -- Foxconn, November 19, 2021.

• How will AAPL do it? Foxconn. On November 10, 2021, Foxconn and Lordstown Motors entered into a strategic partnership. Link to press release here. Wasn't "November 10, 2021" just one week ago?
  

• Lordstown, Ohio: factory already there, and it's not in California
• Lordstown Motors Corp: a provider of electric light-duty trucks focused on the commercial fleet market
• Hon Hai Technology Group (Foxconn): one of the largest electronics manufacturers in the world
• press release explains how this is all going to be done
• Lordstown Motors: wiki. Workforce? Locked and loaded to get this done.

• Worst-kept secret, December 7, 2022.
• Timeline -- posted December 7, 2022
  
• 2019 - 2021: preliminary talks
• 2021 - 2023: design, Apple, in-house
• 2023 - 2024: serious talks with manufacturers
• December, 2024: manufacturer and site announced
• 2025: re-tooling existing site
• 2026: proto-type unveiled
• December, 2026: folks can start ordering for delivery in early 2027
  

This Is So Incredibly British -- LOL -- Maxing Out The Range Of An EV Polestar -- August 14, 2025

Locator: 48854EVS.

"Bog standard" is a British English slang term meaning ordinary, basic, or with no special features. It's used to describe something that is average, common, or unexceptional. The term is generally considered to be slightly disparaging, implying a lack of quality or innovation. 

Link here.

Seriously, read this article very, very closely. This is incredibly absurd. Reminds me of that television commercial extolling an EV 18-wheeler -- going downhill -- LOL. The Brits set the record doing it their way and Guinness accepted it. LOL.

A bog-standard Polestar 3 crossover just set a new world record for the longest journey travelled by an electric SUV on a single charge.

The EV, fitted with the Long Range battery and a single rear motor, went a whopping 581.3 miles before needing to be recharged. That’s a lot more than the Polestar 3’s official EPA range rating of 350 miles. LOL.

The record-setting trip was done on public roads in the United Kingdom, taking 22 hours and 57 minutes to complete. 350 miles / 23 hours / three blokes.

That’s a very long time, which is why the team had three drivers who took turns driving the electric crossover. Exactly how I plan my trips when driving cross-country across the US.

It’s rather impressive, but doing some quick maths reveals that the average speed during the record run was 25.3 mph.

The team left at 2 a.m. to take advantage of clear roads in the morning, sticking to the flat roads of the Norfolk area. At the end of the very long trip, the car had an average energy efficiency of 5.1 miles/kilowatt-hour (19.5 kWh/100 miles).

The record was made official by Guinness World Records’ own judge, Paulina Sapinska, while UK-based fleet management company Webfleet was responsible for gathering independently verified video footage, odometer readings, GPS readings and battery state of charge data. The car was not modified in any way and used standard 20-inch wheels fitted with standard Michelin Sport 4 EV tires.

The Polestar 3 is assembled in Ridgeville, South Carolina, as well as in Chengdu, China. In Long Range Single Motor guise, the BMW iX rival is powered by a rear-mounted electric motor that makes 299 horsepower and 361 pound-feet of torque. The battery, supplied by China’s CATL, has a usable energy content of 107 kWh and can be fast-charged at up to 250 kW, making for a 10% to 80% top-up in 30 minutes.

At the end of the day, this was simply a publicity stunt.  

German Automobile Manufacturing Work Stoppage -- Breaking -- April 4, 2022

EVs: link here. Scorecard. 

• EVs charging.
• graphite
• not for me

Volvo Polestar 2:

• Hertz is buying 65,000 EVs from Volvo's Polestar, a Tesla rival. Link here.
• Polestar 2; a sporty sedan;
• will be available later this year (2022) in North Ameria
• purchases will occur over five years
• Polestar 2: wiki entry.
• MSRP: from $45,900.

German stoppage:

• BMW has halted production at two German factories;
• Mercedes is slowing work at its assembly plants;
• Volkswagen, warning of production stoppages, is looking for alternative sources for part
• Putin's War
• source here or go direct to ABCNews. 

In response to the above a reader submits a very interesting observation.

The reader's observation: is this a parts shortage or has electricity become prohibitively expensive to continued? The US does not have an electricity price or energy issue, but even so, there were news reports that several automotive plants in the US were set to shut down this week.

So, for Germany: probably both -- a parts problem as well as high-priced electricity. 

Hertz To Quit Buying Polestar; Volvo To Quit Funding Polestar -- February 5, 2024

Locator: 46742EVS.

EVs: link here. 

• scorecard
• cash burn 
• graphite
•  not for me. 
• "Energy transition is dead" is followed here. 
• EVs charging. 
• cold weather -- reality sets in -- January, 2024
• resale value -- a deal-breaker

Stellantis throws in the towel, also:

Hertz will stop buying from Polestar, also. Link here.  

Volvo to stop funding Polestar. Previously posted. For the archives.

Saturday Morning -- US Fighter -- F-47 -- So-Named For President Trump -- Contract Signed And Delivered Within Trump's First 100 Days -- Probably Won't Be A Subject For Conversation On The View — April 26, 2025

Locator: 48522ARCHIVES.

Skype: is gone. Link here to The WSJ. Anyone who still misses Skype has never owned an iPhone or an iPad (or even an Apple laptop for that matter) and has never used FaceTime. 

Quick: who owned Skype and where does it still show up?

Focus on dividends: ENB is said to have increased its dividend. History, in Canadian dollars.

I'm always leery of such reports regarding ENB due to currency changes, foreign taxes, and what quarters are being compared. For some reason, of all my holdings, ENB, with regard to dividend announcements, is most confusing.

Best "web link" tip this year: link here. Yes, it really does work, though there is no "right click" for the Apple. However, the drop down menu is intuitive. Link here. Note: I can get it to work on my iPad but not yet on my MacBook Air (laptop) despite using command-K. It's a neat trick on the iPad. The linked article explains why and how to get around that "glitch."

Measles: do you need a booster? Link to The WSJ. Some day, if I have the time, the energy, and if I remember, I'll post a short vignette on my personal experience with tetanus as an adult. Occurred several decades ago and I still haven't forgotten. RFK, Jr., wouldn't understand.

Content is king! Link here to The New York Times for the best 100 -- yes, 100 -- movies currently available on Amazon for "free."

It is incredibly clever how Amazon does this. I assume that at any given time, there are a thousand movies from which I could choose. Nine-hundred of them are unavailable unless one wants to rent or "buy" them from Amazon, but one month earlier some of those 900 were available for free -- for one month. My mind remembers that. I go back to get my free copy of Citizen Kane for the weekend. It's no longer there. But I really, really want it and I was reminded of it by Amazon -- my mind still remembers back one month -- so what do I do? I rent Citizen Kane for a couple of bucks or "buy it" outright for a few dollars more. Amazon? Simply a one-month long advertisement ... every month.

Example: I'll regret not watching The Big Lebowski for free this weekend, but next month, I'll be in the mood to watch it and I will pay Amazon a few bucks for the privilege for something. could have had free this month. LOL. 

But right now, I have100 of the best movies on Amazon from which to choose right now -- all free.

Google, Chrome: again, the most fascinating story this week.

EVs: the most fascinating story overnight. No links for charts below; easy to find on your own. Best site for tracking EV sales may be Cox Automotive. Two charts to ponder today. One is a few months old; one was just posted in the past few days. Charts below are from Cox Automotive.

• Yes, Porsche. For the average American. LOL. Starting price, $77K but easily six figures by the time you are done.
  

• From Bloomberg today (apparently no paywall), update on EVs. Link here.
• update from Dallas, perhaps the #1 big city in the US right now for cars
• featured car in the Bloomberg article: Polestar -- starting at $66,200 will quickly set you back $80,000 before you leave the sales office; yeah, this will be the next American car for the masses. LOL. Having said that, I saw another Polestar 2 when I took Sophia to jiu-jitsu yesterday. For that much money, Polestar could have had a better "logo."
  

China, tariffs: wow, is everyone singing from a different page on this one? Some folks see the end of the civilized world as we know it; others, ho-hum. Count me in the latter group. This is only April. By June this will all be over.

• US ports: most fascinating story. Link here. Simply a snapshot in time. Let's come back to this story in a year.

Texas: with regard to weather this is absolutely the best time of the year -- the weather is wonderful for biking, strolling, sitting poolside late into the evening, and looking forward to three months of swimming, starting just a few weeks from now.

Most important investing notes. Remember, this is not an investment site. Links only for now.

• GPU prices are out of control again, The Verge, link here. Tell me again, Nvidia is in trouble.
• the little guy, link to The WSJ. 
• Beth: link here. ASML says Chinese chipmaking equipment has demand has been higher than expected this year. ASML reported $4.47 billion in net bookings for 1Q25, far short of estimates ... tariffs are given as the reason.
• monopolies: the future. Link here. You won't agree with all ten but the important question to ask when not agreeing: "What am I missing?"
• best two minutes of your day: link here.
  

Boeing: just reported, 1Q25 -- truly exciting -- press release:

During the quarter, Defense, Space & Security was selected by the U.S. Air Force for a contract to design, build and deliver the F-47, its next-generation fighter aircraft. This order is not included in backlog at the end of the quarter pending completion of the source selection and evaluation review process. Backlog at Defense, Space & Security was $62 billion, of which 29 percent represents orders from customers outside the U.S.

Initial contract: $20 billion but it will grow to be much, much higher. Trust me on this one.

Israel: link to The WSJ for update regarding Israel, Jordan, and Egypt.

The $690 flip-flop: it's not what you think. It's worse. Link to The WSJ. This is one reason I occasionally think of discontinuing my subscription to TWSJ.

Worth remembering:

“Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand. They think, deep in their hearts, that they are better than we are because we had to discover the compensations and refuges of life for ourselves. Even when they enter deep into our world or sink below us, they still think that they are better than we are. They are different. ” ― F. Scott Fitzgerald.

Polestar -- Volvo's EV -- Trading Begins Today -- June 24, 2022

Polestar has been mentioned on the blog several times. 

EVs: link here. Scorecard. 

• EVs charging.
• graphite
• not for me

Polestar starts trading on the NASDAQ today. Link here.

Polestar, Hudson Yards, And The Vessel -- March 29, 2023

Reminder: Timberwolves vs Suns tonight, on NBC, 9:00 p.m. ET (?). Kevin Durant back after 10 missed games. 

Six links; too tired to do anything more with them, but want to clear out my in-box.

• Polestar 1: link here.
• Polestar 1: link here.
• Hudson Yards, NYC: link here.
• The Vessel, Hudson Yards: link here.
• The Vessel: link here.

AMC / Amazon: link here.

• AMC shares: surged at the open, but closed minus 3% for the day; down 15 cents; trading at $5.00.
• so much for that rumor. 

Huge story:

• yesterday on the blog: Washington State -- no income tax (state constitution)
• fees on capital gains "okay" 
• Washington State: still no income tax.
  
• on blog earlier today;
• moving to Texas: Fisher Investments. Moving here for the weather. LOL. Fees on capital gains. 
• moving down the road from us, to Plano. A suburb north of Texas.
• Link: https://finance.yahoo.com/m/b56a2c81-e128-39d7-9597-fbf1d43dca2b/fisher-investments-moves-to.html.
• Texas relocation tracker: link here.  
• today: Fisher Investments announces they will leave Washington State and move to Texas;
  Plano, TX, to be specific

Endurance Not Likely To Endure; Polestar On The Ropes; Nikola Pivots -- May 11, 2023

Locator: 44622EVs.

Nikola: pivots; exits EV partnership in Europe; to focus on hydrogen on US.

Polestar: to cut workforce; delays push SUV to 2024. Swedish.

Endurance, might not endure:

Mercedes EV — EQS 680 SUV — October 12, 2023

Locator: 45734EVS.

Link here.

Price? If you ask, you can’t afford it.

But for the record, “it’s north of $200,000.” Base, starting. 

Top speed? Less than a 2021 Honda Civic — 137 mph vs 130 mph.

By the way, our neighbors — we live in an apartment complex — now own a brand-new Polestar. Somehow they got a 220-volt outlet put in their garage. At least it so appears. They charge their Polestar outside the garage for sone reason.

Book Page -- Tech Notes -- April 10, 2025

Locator: 48453ARCHIVES.

The Great Gatsy, the 100th Anniversary Edition, Annotated: published March 4, 2025! I assume this would be in the $50-range. In fact, $26 -- at Amazon, 25% off. Barnes and Noble, as members, the best we could get, a standard 10% discount. Ordered. Will arrive in two days. Not affected by tariffs!

Breaking: helicopter crashed in Hudson River. Likely a tourist helicopter. One pilot, two adult passengers and three children. Apparently, based on eye-witness account, the blades broke apart in mid-air. We will know the results of the investigation one year from now.

Back home: had a great trip to Portland. It's surprisingly nice. If any US metropolis survives volatility, it will be Portland (and has been Portland). They are a feisty bunch. In the big scheme of things, I might prefer a pied-à-terre on the far east side or the far west side of downtown Portland if I had all the money in the world. Seriously. I liked the tolerance, the feistiness. 

Trump: the news cycle never, never, never quits. Now he' suggesting the US government "install" federal oversight of Columbia University. Of course, it isn't going to happen, but ... link here. Clearly, federal funding of US universities at risk. Hopefully, Trump will use a surgical scalpel this time, and not a sledgehammer.

Budget: US House moves forward. Congrats to Mike Johnson. Let's see what "the invisible man" can do. Link to The New Yorker.

Trade wars: if one wants a bit of insight -- read 1177: The Year Civilization Collapsed, Eric H. Cline, 2021. Notes here. 

Clearly Trump misread this one. He needed to use a surgical scalpel, not a sledgehammer. Sledgehammers are so yesterday. My hunch: he pivots, makes the right changes.

Having said that, I part company with Eric H. Cline's thoughts on the future.

Biggest story not being reported: US Navy chief "regrets" over-spending to fight asymmetric wars. Links hard to find. This is one link.

First time I've heard such a regret. I wonder what his thoughts are on algae-based jet fuel?

Tech notes today:

Intel's CEO with China: not good news for the company. Puts Trump in a difficult spot.

The grid: PJM, Google, and Tapestry. The sixth industrial revolution has started.

Polestar: can sell a lot of cars; can it make a profit?  

A Chinese car company. Another plaything for the elite. Polestar uses two different charging systems, neither of which is owned or developed by Elon Musk. One system, AC system, is designed for Europe; the other charging system, a DC rapid charging system, is for US EV consumers.

Apple: airlifted six hundred tons of iPhones out of India ahead of tariffs to beat the tariffs. 

• 600 * 2000 = 12 * 10^5 = 1200000 = 1.2 million phones
• the shipping weight of an iPhone, including packaging, generally ranges from 10 to 12 ounces, or approximately 1 lb. The iPhone itself typically weighs between 5.78 and 8.46 ounces depending on the model.
• this is really cool: how I help Sophia do the math
• 6 x 2 = 12
• so, Sophia, remember, the US has a population of about 350 million people:
• did Apple ship
• 10 phones?
  
• 100 phones?
• one hundred thousand phones: sounds like a big number but way too small
• a million phones?
• a billion phones?
• so, then 12 becomes 1.2 million or 1.2 billion 

Apple sold approximately 234.6 million iPhones in 2023, surpassing Samsung to become the world's top smartphone seller. In the previous year, 2022, Apple sold about 225.3 million iPhones. If all the above is accurate, that 1.2 million phones shipped out of India is trivial.

250 million / 12 months = 20 million iPhones being sold per month (global, of course, but America would be the biggest market, I assume).

Idle rambling: all of the above could be wrong but it gives me an idea where to begin. And regardless, it's a good exercise for Sophia for critical thinking

 Later: value here.

***********************
The Book Page

Having completed these four books over the past couple of weeks, I was led to this book which arrived from Amazon yesterday:

• Assyria: The Rise and Fall of the World's First Empire, Eckart Frahm, c. 2023.

The author: a professor of Assyriology in the Department of Near Eastern Languages and Civilizations at Yale University.

I bought the book specifically to track the interaction and progression of hieroglyphics, cuneiform, the alphabet, and written language. I have no idea how this will play out; I've not seen reviews of the book, but my first impression: it's gonna be a great book. Comes in at 509 pages including notes to chapters and the index. 

Small-Cap EV Manufacturers Had A Very Tough Day — October 20, 2023

Locator: 45773EVS.

Here are the numbers for Polestar, Rivian, Lucid, Arrival, Canoo, 1-year and 5-year:

• Polestar: down 51%; down 67%; yesterday, down 8%;
• Rivian: down 48%; down 87%; yesterday, down 3%;
• Lucid: down  68%; down 57%; yesterday, down 1.4%;
• Arrival: down 97%; down 99.8%; yesterday, down 5%;
• Canoo: down 81%; down 97%; yesterday, down 6%;
  

No longer even good trading stocks, much less investing stocks.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

Cramer's First Hour -- Part 4 -- October 18, 2024

Locator: 48624CRAMER. 

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.

David Faber has the day off. Just Carl and Jim.  

WTI: drops below $70. Peace must have broken out in the Mideast.

Market opening: it could be a huge day for tech. Again. Dow is negative in pre-market trading, but indications suggest it could be in the green by the end of the day. The one I'm watching today? AAPL. Surprise, surprise! LOL. Reminder: iPhone 16 sales surge in China. First sales report -- the "16" was introduced in China three weeks ago. Biggest conundrum: what is Buffett up to?

Goldilocks: Carl just used that word. Whoo-hoo! Carl's "binder" continues to impress me.

Cramer now doing a report on Apple -- still doesn't understand how analysts missed this one. AAPL opens up $2.66; up 1.31%. But it's gonna be up and down for the next two hours. Note, multiple:

• Trane: 39
• AAPL: 35.
• okay.

Goldilocks: Cramer just mentioned that word. Whoo-hoo! 

SLB: still touts, pumps, pushes SLB. Says SLB is the best in their sector. And, get this, references RNB Energy this morning! Which I've already posted -- some hours ago!

DIS: Cramer still "hopeful" on Disney. Likes an influencer by the name of Bob Iger.

Amazon: mandates workers come back to office full time -- if workers balk, they can find work elsewhere. Wow. Now that Amazon has done this, the rest will follow. The word is getting back to Jeff Bezos that a lot of engineers working from home are now working for two -- and perhaps as many as three -- tech companies. Managers running into a lot of engineers working from home who can't explain what they're working on. 

Autos, multiples:

• GM: 5.
• F: 12.

Chart of the day:

Polestar: I was going to post the Polestar chart also but absolutely not worth it.

Tesla, Model S: price plummeting. Link here.

**********************************
Disclaimer
Brief Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.

Catching Up On Links -- April 11, 2025

Locator: 48459ARCHIVES.

Catching up on links.

California Medi-Cal:

California bullet train: to put that in perspective, original cost estimates for the bullet train was $33 billion. That cost estimate has now surged to $128 billion.

California: Governor Newsom using "smoke and mirrors" to assure California voters the state is not "broke" because of all the money being spent on illegal immigrants. Link here. 

Twelve million new Americans surged across the border during the Biden administration and most of them stopped first in Texas, Arizona, New Mexico, and California. Most of those who arrived first in California, stayed. Many who first arrived in Texas left as quickly as they could for a sanctuary state.

I still think Texas should offer bus vouchers to all non-residents coming across the border from Mexico. Bus vouchers: one-way to California, New York, and/or Illinois. Vouchers to Washington, DC, would come with $100 spending money -- real US currency. In all cases, street addresses for free housing at the city of destination.

A year ago physicians' offices were standing room only; all of a sudden, these same physicians' offices now have more than enough open seating. Victor Davis Hanson was first to report on this new phenomenon. Twelve million folks laying low for now.

Amazon: continues to deliver. I am so impressed. Among everything else, I cannot even imagine how much I've saved in mailing costs.

Voting in federal elections: US House passes bill requiring proof of citizenship. Link here. Will John Thune deliver?

The grid: PJM, the grid, google, and Tapestry. Link here. This all points to huge demand for electricity going forward. And, here.

Polestar: anyone can make a luxury EV. Link here. The trick is to make money. So, we'll see. Also, don't forget: Polestar is a Chinese company. Lucid is a Saudi company. Both with deep pockets. Tesla is a battery and an operational "renewable regulatory credit" company.

Ouch: Intel CEO -- Chinese-American or American-Chinese or American or Chinese? Link here. Under Biden it didn't matter. Under Trump, it will. Link here, also.

American opportunity, American exceptionalism, Americans keeping America great, link here to The WSJ:

In half a lifetime, Jonny Kim has achieved the American dream three times over.

He was a Navy SEAL.

Then he graduated from Harvard Medical School. [It's one thing to graduate from Harvard Medical School; it's another thing to practice military medicine overseas at a remote location. Raise your hand if you've done that.]

And on Tuesday, he blasted off as part of his latest act: astronaut.

When novelist Wesley Chu first learned about Kim, a 41-year-old father of three who is also a Navy pilot, his first reaction was awe.

His second: “Thank God my mom is not friends with his mom.”

After word of his feats spread, Kim became a global source of inspiration. And yet, to many of the same people who glance at his résumé and can’t help but compare it to theirs, he has also conjured up a bit of another feeling.

Dismay.

This has been especially true in the Asian-American community, where Kim, the son of South Korean immigrants, has been simultaneously lauded as a hero—and feared, only half-jokingly, as “every Asian kid’s worst nightmare.”

The worry: No matter what they achieve, their high-demanding immigrant parents will say Jonny Kim already did that—only better. “We accomplished all this stuff, but really, it’s what he did that matters,” Chu said.

Kim became an internet meme among Asian Americans, who frequently take to social media to express gratitude that he’s not a relative. NASA’s social-media posts about Kim are flooded with comments expressing similar sentiments. “As a fellow Asian, I hope my parents do not get to read this. But, safe journey my man,” one wrote. Chu wrote about that feeling of inadequacy in a viral post, which inadvertently hammered in the point by containing a typo.

The US astronaut program: where really, really, really bright, high-achievers, go to die (figuratively). Chu needs to do his four years as an astronaut and then do something really, really big. Much could be said.