With very limited cash balances, a mountain of liabilities, and a poorly positioned product, we believe this luxury EV automaker may have resorted to distorting its financial statements to tell a good story. The fact remains: the company is trying to sell luxury EVs in a hyper-competitive market with a name little known outside its home country base. Very large capital-raising dilution appears likely, or the company could be on its way to the Pink Sheets.
© 2024 J Capital Research USA LLC
Substack is the home for great culture