Electric Vehicle Financing – Sfeva http://sfeva.org/ Fri, 24 Sep 2021 02:17:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://sfeva.org/wp-content/uploads/2021/05/sfeva-icon-150x150.png Electric Vehicle Financing – Sfeva http://sfeva.org/ 32 32 This is why this super-successful growth investor no longer owns Tesla shares http://sfeva.org/this-is-why-this-super-successful-growth-investor-no-longer-owns-tesla-shares/ http://sfeva.org/this-is-why-this-super-successful-growth-investor-no-longer-owns-tesla-shares/#respond Thu, 23 Sep 2021 23:29:00 +0000 http://sfeva.org/this-is-why-this-super-successful-growth-investor-no-longer-owns-tesla-shares/

Successful innovations improve the lives of customers, but that doesn’t necessarily make these companies good investments.

“In some cases, innovation helps us all have a better quality of life, and that doesn’t mean there is directly an investment or business that comes out of it,” Dennis Lynch, Head of Counterpoint Global, Morgan Stanley Investment Management, told the Morningstar Investment Conference Thursday. His team manages several growth equity strategies for Morgan Stanley, including Morgan Stanley Institutional Inception Portfolio MSSMX,
+1.40%,
which had an average annual return of 49.71% through the end of August, compared to an annual gain of 12.27% for the Russell 2000 Growth Index. RUO,
+1.82%

Electric vehicles is a business like that, and that’s why Lynch sold all of his shares in Tesla TSLA,
+ 0.23%
A few years ago.

Lynch said he held shares in the electric vehicle maker in a “small speculative position” when Consumer Reports’ first review of the car came out about half a dozen years ago. At the time, the company started to have “a real source of income ahead of it,” he said.

The team sold the shares after about three years, missing most of the rise in the automaker’s share price.

Explaining her decision, Lynch said selling cars is a tough business and electric cars mean selling vehicles that are expensive for the average consumer and require financing.

It also comes down to one of his metrics that he uses to assess a disruptive business: focusing on the unity economy.

Tesla is capital intensive and has a constant need to obtain funding from the capital markets. This “isn’t necessarily bad, but it potentially puts you, in uncertain times, in a position to rely on the kindness of strangers to continue to pursue the business model in this way,” he said.

Lynch admitted that founder Elon Musk had done “some really amazing things.” But it comes down to whether the business can be profitable.

“When you bank on the financial markets and dream big, there is a fine line between inspiring and making promises you may not be able to keep,” he said.

“We were wrong in that the [stock price] since we sold has worked extremely well, ”he said. “But I think this is an area where it will be really difficult to pick an ultimate winner, especially at today’s prices,” he said.

Lynch spoke during a panel on disruptive companies with Bill Nygren, a leading portfolio manager and chief investment officer of U.S. equities at Oakmark Funds, a value fund manager. Nygren had his own take on disruptive businesses, noting that investors often overlook large space companies that can innovate themselves.

An example is Allison Transmission ALSN,
-0.17%,
which makes it possible to manufacture transmissions for heavy off-road trucks, including fully integrated electric axles, he said. The Oakmark Select OAKLX fund,
+1.56%
owns shares of the Indianapolis-based company.

Oakmark Select is up 13.14% at a three-year annualized rate until the end of August, trailing the S&P 500 SPX index,
+ 1.21%,
but has beaten the index since its inception in November 1996 with an annualized return of 12.46%.

The shift to electric vehicles will radically change that business, Nygren said, but he points out that the entire valuation of new companies in the space is similar to what the market values ​​Allison’s electric vehicle production, based on the valuations being a multiple of the money spent. on research and development. “You could argue that the market values ​​Allison’s EV business the same way other pure EV companies are valued,” he said.

As a value manager, Nygren’s team analyzes stocks with a forecast of around seven years at most and won’t invest in something they can justify at current prices, like bitcoin BTCUSD,
-0.55%.

“We are just happy to retire. And I think people would be wise not to listen to me on topics where we’ve just decided we don’t know enough to make an investment, ”he added.

Lynch, on the other hand, said he was not against the risk of an unproven business. His team is prepared to make small business bets in the hopes of winning big, rather than making a binary choice or whether or not to own a stock.

“Having a little something where things can go well, but also knowing that there are things that can go wrong is not unreasonable when you have a world that has such disruptions, and where these positive scenarios end up. to be so big, “he said.

Lynch has small positions in Bitcoin and Square SQ,
+ 2.16%
due to its exposure to cryptocurrencies. Bitcoin has persistence as a trend, one of the metrics it uses when examining innovation. Cryptocurrency talks go up and down with prices, with some critics claiming it won’t last with every drop, only to rebound. “I like to say that Bitcoin is kind of like Kenny from South Park, you know the guy dies every episode and he’s back,” he says.

He called bitcoin “anti-fragile,” something that takes advantage of clutter, which he also appreciates as the potential for diversification. A major risk is that governments could ban these alternative currencies, Lynch said, but overall a small speculative position is worth having.

“It’s kind of part of the portfolio, maybe it’s something that can go well when the rest of our portfolios have something going wrong…. Ten years from now, given the persistence of bitcoin, it’s worth a little speculation, ”he said.

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electric vehicles: LetsTransport will bring 1,000 electric vehicles to its platform by next year http://sfeva.org/electric-vehicles-letstransport-will-bring-1000-electric-vehicles-to-its-platform-by-next-year/ http://sfeva.org/electric-vehicles-letstransport-will-bring-1000-electric-vehicles-to-its-platform-by-next-year/#respond Thu, 23 Sep 2021 10:13:00 +0000 http://sfeva.org/electric-vehicles-letstransport-will-bring-1000-electric-vehicles-to-its-platform-by-next-year/ Last mile technology and logistics solutions provider LetsTransport announced Thursday that it will increase the number of electric vehicles (EVs) on its platform to 1,000 by June 2022.

The company – which started its electric vehicle-led operations in Delhi-NCR, Hyderabad, Bangalore and Mumbai – currently has an electric vehicle fleet of 100 vehicles and will introduce electric vehicles to its fleet in Chennai, Pune and Kolkata, LetsTransport said in a statement.

Its electric vehicle fleet includes three-wheeled vehicles from Piaggio, Etrio, ETO, Altigreen and

, with a payload capacity of 500 kg and these work either with fixed batteries or with interchangeable battery systems.

“The new vehicles are also expected to include four-wheeled vehicles with a payload capacity of up to 2 tonnes. The main deployment of these electric vehicles is in intra-city and last mile logistics for e-commerce, retail, FMCG and third-party logistics distribution. sectors, ”the company said.

“We are working with our customers to create cleaner and more sustainable logistics solutions. With low O&M costs, we expect electric vehicles to play a central role in intra-city and last mile logistics. , and we’re well prepared for it, ”LetsTransport co-founder and CEO Pushkar Singh said.

By increasing its fleet, the company also contributes to strengthening the ecosystem of electric vehicles by enabling the financing of electric vehicles, the establishment of charging infrastructure and the creation of a market for the resale of electric vehicles in a market. near future, he added.

“This, in turn, will encourage more driver-entrepreneurs to switch to electric vehicles, as it will become a more profitable asset,” Singh said.

LetsTransport, based in Bengaluru, focuses on intra-state freight deliveries. Currently he handles the urban logistics operations of 17 cities in India and some of his clients include Amazon, Bisleri, JioMart, JSW Cements, Pidilite, Britannia, Coca-Cola, Delhivery and Udaan.

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Ohio Air Quality Development Authority, first state authority to implement a dedicated green bond program http://sfeva.org/ohio-air-quality-development-authority-first-state-authority-to-implement-a-dedicated-green-bond-program/ http://sfeva.org/ohio-air-quality-development-authority-first-state-authority-to-implement-a-dedicated-green-bond-program/#respond Wed, 22 Sep 2021 19:00:00 +0000 http://sfeva.org/ohio-air-quality-development-authority-first-state-authority-to-implement-a-dedicated-green-bond-program/

Columbus, Ohio, September 22, 2021 / PRNewswire-PRWeb / – The Ohio Air Quality Development Authority (OAQDA) announced a new green bond program to meet the environmental and economic needs of Ohio businesses and communities. The new initiative is expected to diversify and expand the pool of national and local investors for sustainability-focused development projects in the state of Ohio.

Green bonds issued by the OAQDA will comply with its recently released Green Bond Framework, which is aligned with internationally recognized financial market standards, and can fund projects in renewable energy, energy efficiency, vehicles. electrical or alternative fuel infrastructure, recycling or waste disposal, and / or mitigation of harmful air pollution.

“It is becoming increasingly evident that companies and organizations that adopt positive environmental, social and governance (ESG) initiatives are highly regarded in today’s capital markets,” said Christina o’keeffe, Director General of the OAQDA. “In Ohio, we took a very important step forward with the launch of our Green Bond program to help position sustainable projects to attract this investment and achieve shared and mutually inclusive benefits of economic growth while protecting the environment. . ”

This initiative presents the agency’s priorities in terms of accountability and transparency. As a key best practice in financial markets, the OAQDA will use accredited and trusted external reviewers to assess each bond issue and provide an objective assessment of how the project aligns with internationally recognized market standards. for green bonds. Kestrel Verifiers, who has 20 years of public finance experience and are experts in green, social and sustainable municipal bonds, was selected by the OAQDA as a resource for this effort.

“Much like an audited financial statement, an external review process for green bonds will give investors assurance of the environmental benefits of projects,” said Monique reid, Founder and CEO of Kestrel Verifiers. “By supporting green investments, the OAQDA underscores its commitment to positive environmental impact, and we look forward to providing expertise to support this valuable work. “

Projects that may be eligible for the green bond designation must also align with existing air quality improvement program assessment and accountability characteristics. CAIP is available for Ohio businesses of all sizes seeking profitable financing to improve air quality. Acting as an intermediary between borrowers and sources of private capital as an issuer of intermediary bonds, the OAQDA offers tax advantages to support projects of pollution control, energy efficiency, energy renewable and alternative transport infrastructure. Through these projects, the OAQDA promotes cleaner air for employees, customers and communities, while supporting economies that help businesses thrive and meet their sustainability goals.

Companies with potentially eligible projects are encouraged to apply and find out more by visiting http://www.ohioairquality.org.

The Ohio Air Quality Development Authority (OAQDA), which celebrates its 50th anniversary in 2021, is a non-regulatory government agency created to help Ohio businesses comply with and go beyond air quality regulations. Since its inception in 1970, the OAQDA has worked to improve air quality by supporting businesses, creating jobs and improving communities while improving the health and safety of all Ohioans. To date, the OAQDA has awarded more than 8 billion dollars to finance air quality projects. For more information on the OAQDA and its services, please visit http://www.ohioairquality.org.

Media contact

Katie lundy, Ohio Air Quality Development Authority, +1 614-353-6476, katie@inspireprgroup.com

SOURCE Ohio Air Quality Development Authority

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Volvo Trucks North America and AMPLY Power Collaborate on Load Management Programs for Electric Truck Fleets http://sfeva.org/volvo-trucks-north-america-and-amply-power-collaborate-on-load-management-programs-for-electric-truck-fleets/ http://sfeva.org/volvo-trucks-north-america-and-amply-power-collaborate-on-load-management-programs-for-electric-truck-fleets/#respond Wed, 22 Sep 2021 10:00:00 +0000 http://sfeva.org/volvo-trucks-north-america-and-amply-power-collaborate-on-load-management-programs-for-electric-truck-fleets/

The Innovation Lab in Silicon Valley has enabled the two companies to collaborate on solutions that support the transformation towards more sustainable transportation systems. AMPLY provided valuable insight into the infrastructural barriers and common challenges that deter fleet operators from switching to electric vehicles. In turn, AMPLY has acquired valuable knowledge about the needs of heavy truck fleets and has tailored some of its solutions specifically for these types of operations.

Through continued collaboration, AMPLY Power and Volvo Trucks North America are now working on bi-coastal projects with two fleets of heavy-duty electric trucks. A notable client that both companies work with is Manhattan beer dispensers, one of the largest beverage distributors in the country and based in New York City.

“The aim of the Innovation Lab is to create a path where the Volvo Group and start-ups can co-create and jointly validate new digital solutions and business proposals with Volvo Group stakeholders and customers,” said declared Fredy Daza, director of the Volvo Group Connected Solutions innovation lab. “The Manhattan Beer Distributors Project is a real example of how the Volvo Group is accelerating advanced transportation solutions by collaborating with startups in the Silicon Valley ecosystem.

“We are delighted that AMPLY Power is managing the charging operations of our new electric trucks and ensuring that our deployment of electric vehicles is transparent and cost effective,” said Juan Corcino, Senior Director of Fleet Operations and Sustainability for Manhattan Beer Distributors. “As a leader in sustainable transport for new York, we have long focused on minimizing the environmental footprint of our operations, and AMPLY’s load management services help us achieve these goals cost-effectively. “

Manhattan Beer’s deployment includes five Volvo VNR Electric Class 8 models operating on distribution routes with heavy payloads and back-to-base operations. The trucks have a range of 150 miles and a battery capacity of 264 kWh, requiring approximately 70 minutes to achieve an 80% charge. Further collaborations will be planned and announced as AMPLY and Volvo Trucks continue to deploy more electric vehicles.

“Preparing for infrastructure deployment and seamlessly transitioning from diesel to electric are critical for a customer’s business transformations towards zero emissions,” added Roopa Shenoy, director of total offer for electromobility at Volvo Trucks North America. “By leveraging expertise in power management systems and ensuring that the total cost of operation is prioritized with a charging solution, AMPLY is able to offer a complete solution under the electrification route. We are eager to learn the lessons of these first deployments and to constantly adapt and evolve our global offer of electromobility solutions. “

With its large-scale charge management system, AMPLY helps fleet operators like Manhattan Beer Distributors manage their energy infrastructure and charging needs for their electric vehicle operations. AMPLY covers everything from site design for efficient power-up and movement of vehicles in the depot to software and hardware that communicate with the network and manage loads to automatically charge vehicles when prices are lowest or that energy is the cleanest. To manage recharging operations, AMPLY deploys its OMEGA software platform to recharge vehicles based on fleet priorities, provides real-time alerts to help ensure uptime and provides detailed reports on Scope 2 emissions. .

“We are honored to work with Volvo Trucks as their leadership has truly pushed the heavy-duty trucking space towards electric,” said Vic Shao, CEO and founder of AMPLY Power. “For these distribution truck fleets, uptime is critical and heavy payloads must be guaranteed. As such, we are focused on optimizing charging operations so that fleets benefit from the shortest charge times at the lowest possible cost. ”

Collaboration with Volvo Trucks follows AMPLY Power’s partnership with the non-profit environmental association WattTime to provide customers with access to data on emission reductions and the ability to automatically bill when power plant greenhouse gas emissions are low. The company also recently unveiled a new project with Red hook terminals in which AMPLY will manage the recharging of ten electric sorting tractors at its container terminal in Port Newark, New Jersey, representing the largest deployment of zero-emission battery electric trucks in the east United States.

About AMPLY Power

AMPLY Power is a comprehensive provider of electric vehicle charging and energy management for fleets operating trucks, buses, vans and light vehicles. Our intelligent load management software, OMEGA ™, optimizes charging for lower cost energy, while delivering improved resiliency and reliability, all in one user-friendly dashboard. Coupled with our charge-as-a-service model, our vehicle and charger independent approach allows us to manage all the details of EV charging in a fleet, ensuring performance and dramatically reducing initial capital. To learn more about AMPLY, visit www.amplypower.com or LinkedIn and follow @AMPLYpower on Twitter.

About Volvo Trucks

Volvo Trucks North America, headquartered at Greensboro, North Carolina, is one of the leading heavy duty truck manufacturers in North America. Its Uptime Services commitment is ensured by a network of nearly 400 authorized resellers through North America and the Volvo Trucks 24/7 Availability Center. Every Volvo truck is assembled at Volvo Trucks’ New River Valley manufacturing facility in Dublin, Virginia, which meets the internationally recognized ISO 9001 standard for quality, the 14001 standard for environmental protection and holds a double certification ISO 50001 / Energy performance above platinum level, indicating sustained excellence in the management of the environment. energy. Volvo Trucks North America provides complete transportation solutions to its customers, offering a full range of diesel, alternative fuel and all-electric vehicles, and is part of the global Volvo Trucks organization.

Volvo Trucks provides complete transport solutions for professional and demanding customers, offering a full range of medium to heavy trucks. Customer support is secured through a global network of resellers with 2,300 service points in more than 130 countries. Volvo trucks are assembled in 13 countries around the world. In 2020, around 94,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world’s leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. The Group also offers complete financing and service solutions. Volvo Trucks’ work is based on the fundamental values ​​of quality, safety and respect for the environment.

About Manhattan beer dispensers

Over the past 40 years, Manhattan Beer Distributors has strived to become the premier full-service beverage company in the New York metro area. Our mission is to help you best serve your customers.

We are committed to providing you with a diverse portfolio of profitable products, sold by highly trained sales staff and delivered on demand by a dedicated delivery force.

It is this commitment to customer service that has kept us as one of the most established and respected distribution companies.

Media contact for AMPLY Power:

Technica Communications for AMPLY Power
Lisa Ann Pinkerton
[email protected]

SOURCE AMPLY Power

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https://www.amplypower.com/

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Mercedes-Benz ranks its flagship electric vehicle EQS below the S-Class http://sfeva.org/mercedes-benz-ranks-its-flagship-electric-vehicle-eqs-below-the-s-class/ http://sfeva.org/mercedes-benz-ranks-its-flagship-electric-vehicle-eqs-below-the-s-class/#respond Tue, 21 Sep 2021 16:59:53 +0000 http://sfeva.org/mercedes-benz-ranks-its-flagship-electric-vehicle-eqs-below-the-s-class/

The Mercedes-Benz has priced the flagship electric vehicle EQS at more than $ 8,700 less than its gasoline-powered S-Class counterpart, a strategic move by the German automaker to ensure a successful deployment of the luxury electric vehicle in North America.

The EQS, which will arrive in US dealerships in fall 2021, will start at $ 103,360, including the destination fee of $ 1,050. The federal tax credit will offer an additional $ 7,500 over the price of the sticker.

Mercedes-Benz will start with two models: the EQS 450+ and the EQS 580 4MATIC, which are priced higher by $ 120,160. These two variants will come in three versions – the top is aptly called Pinnacle – pushing that price up to 126,360, including the destination fee of $ 1,050.

Mercedes’ decision to price the EQS below the S-Class, which from $ 112,150 (including destination charges), illustrates the issues at stake here. The S-Class has long been the company’s flagship luxury sedan. Mercedes, which earlier this year presented a 40 billion euros ($ 47 billion) plan to become an all-electric automaker by the end of the decade, must either convert former S-Class owners to EQS, or bring in a new list of buyers.

The 2022 Mercedes-Benz exudes ultra-luxury, as expected. But it is also technology officer, including a 56-inch hyper-display, a monster HEPA air filter, and software that intuitively learns the driver’s wants and needs. There is even a new fragrance called No.6 MOOD Linen and is described as “carried by the green note of a fig and a linen”.

Mercedes is betting that technology, combined with performance, design and price, will attract buyers. As TechCrunch has already noted, this is a high stakes game for Mercedes. The German automaker is banking on a successful deployment of the EQS in North America that will erase all memory of its troubled – and now failed – launch of the EQC crossover in the United States.

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Hong Kong mixed stocks; Evergrande Falls, casinos rebound, electric vehicle manufacturers slide http://sfeva.org/hong-kong-mixed-stocks-evergrande-falls-casinos-rebound-electric-vehicle-manufacturers-slide/ http://sfeva.org/hong-kong-mixed-stocks-evergrande-falls-casinos-rebound-electric-vehicle-manufacturers-slide/#respond Tue, 21 Sep 2021 05:01:48 +0000 http://sfeva.org/hong-kong-mixed-stocks-evergrande-falls-casinos-rebound-electric-vehicle-manufacturers-slide/

The benchmark Hong Kong stock index ended the morning down 0.3% at 24,022.12 as Chinese real estate stocks turned mixed after yesterday’s drop amid lingering concerns over possible defaults payment this week by developer China Evergrande Group. Macau casino stocks rebounded and electric vehicle makers fell.

China Evergrande Group, the world’s most indebted developer, fell another 3.5% to HK $ 2.22. Its shares have fallen 88% from the recent peak in January, sparking protests from individuals demanding debt repayment and wiping out much of the fortune of billionaire president Hui Ka Yin. S&P this week warned of defaulting on debt owed this week.

The other real estate developers were mixed, however. Guangzhou R&F rebounded 5% after its major shareholders, Hong Kong billionaire Li Sze Lim and mainland Chinese billionaire Zhang Li, pledged $ 1 billion in financial support to the company (see related article here ). Country Garden, controlled by billionaire Yang Huiyan, gained 6.9 %% to HK $ 7.00.

A number of financial institutions linked to Guangdong province where Evergrande is based continued to decline. Among them, government-backed insurer Ping An lost 3.3% to HK $ 49.65; its shares have now halved from a recent high of HK $ 103.10 in January. China Merchants Bank fell another 1.7% to HK $ 56.50.

Macau casino stocks hammered earlier this month amid concerns over new government regulations related to the license renewals of Macau operators. Among them, Sands China, a subsidiary of Las Vegas Sands, rose 4.5% to HK $ 15.76; Wynn Macau, a subsidiary of Wynn Resorts, rose 3.6% to HK $ 6.11.

Tech stocks aimed at consumers out of the limelight amid the crisis surrounding Evergrande were largely down. Alibaba lost 2.4%, Meituan lost 3.2% and Tencent lost 1.8%. (See the related post here.)

Electric vehicle maker Li Auto fell 7.7% to HK $ 10.40 after warning yesterday that Covid-19 would slow semiconductor shipments from Malaysia and cut back on deliveries. Industry leader BYD fell 2.4% to HK $ 238.

Mainland Chinese stock exchanges are closed today for the mid-August festival. The Hong Kong Stock Exchange will be closed tomorrow.

See related articles:

China’s anti-monopoly push boosts appeal of enterprise and deep technology

Air passenger travel to China fell 51% in August from a year earlier

@rflannerychina

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IDEX) Synergistic divisions to fuel the growth of Energica Motor Company http://sfeva.org/idex-synergistic-divisions-to-fuel-the-growth-of-energica-motor-company/ http://sfeva.org/idex-synergistic-divisions-to-fuel-the-growth-of-energica-motor-company/#respond Mon, 20 Sep 2021 15:44:47 +0000 http://sfeva.org/idex-synergistic-divisions-to-fuel-the-growth-of-energica-motor-company/

Ideanomics (NASDAQ: IDEX), a global company focused on the adoption of commercial electric vehicles and associated energy consumption, today announced that it will leverage its particularly synergistic divisions to further support its partner Energica Motor Company SpA and its subsidiaries (” Energica ”). Energica is one of the leading manufacturers and distributors of high performance electric motorcycles. According to the update, the two divisions Ideanomics Capital and Ideanomics Mobility will team up to roll out a new dealer floor plan financing agreement with the goal of more than doubling the number of Energica dealers in the United States by the end of 2021. “American consumers are entrenched. in dealer culture, and they need to be able to see, touch, smell and operate these beautiful machines to make a buying decision. We are proud to enable a much larger and more accessible dealer presence for Energica and we expect this to be a critical step to scale and grow our revenues in 2022 and beyond, ”said Kristen Helsel, Director of Revenue at Ideanomics. “Most importantly, this dealer financing marks the first of many activities where we will leverage the strength of Ideanomics Capital to drive growth in electric vehicle sales on the mobility side of the business. “

To view the full press release, visit https://ibn.fm/caSuS

About Ideanomics Inc.

Ideanomics is a global company focused on the convergence of financial services and industries facing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators by providing vehicle purchasing, financing and leasing and energy management solutions within the framework of an innovative pay-as-you-go sales activity (“S2F2C”). model. Ideanomics Capital focuses on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide customers and global partners with cutting-edge technologies and services designed to improve transparency, efficiency and accountability, and offer shareholders the opportunity to participate in sectors with high growth potential. For more information visit www.ideanomics.com.

NOTICE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s press room at https://ibn.fm/IDEX

About green car stocks

Green Car Stocks (GCS) is a specialist communications platform focused on electric vehicles (EVs), as well as other emerging market opportunities in the green sector. The company provides (1) access to a wire service network via NetworkWire to reach all target markets, industries and demographics in the most efficient way possible, (2) syndication of articles and editorials to over 5,000 media outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via Investor Brand Network (IBN) to nearly 2 million subscribers, and (5) a full range of business communication solutions. As a multi-faceted organization with a large team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public businesses that wish to reach a large audience of investors, consumers, journalists and the public. General public. By eliminating the information overload in today’s marketplace, GCS brings unmatched visibility, recognition and brand awareness to its customers. GCS is the focal point for news, content and information.

To receive SMS alerts from Green Car Stocks, text “Green” to 21000 (US mobile phones only)

For more information, please visit https://www.GreenCarStocks.com

Please review the full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever posted or republished: https://www.GreenCarStocks.com/ Disclaimer

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The Evergrande crisis and why its share price plunges http://sfeva.org/the-evergrande-crisis-and-why-its-share-price-plunges/ http://sfeva.org/the-evergrande-crisis-and-why-its-share-price-plunges/#respond Mon, 20 Sep 2021 04:54:25 +0000 http://sfeva.org/the-evergrande-crisis-and-why-its-share-price-plunges/

Evergrande Group, China’s second-largest real estate developer by sales, has come under increasing scrutiny in recent months as the company grapples with a severe liquidity crunch due to growing debt.

The possible contagion of a default on Evergrande bonds shook the markets. With exceptional debt of $ 300 billion, the potential failure of the company risks triggering a chain reaction in China and overseas markets. About 67% of Evergrande’s debt is cash that customers have paid for goods that have not been completed.

Protests from homebuyers and investors demanding repayment of their money and seeking answers from company executives have erupted in recent days at Evergrande’s headquarters in Shenzhen and its offices across the country.

On Monday, the company’s stock price fell 17% against Hong Kong’s benchmark Hang Seng stock index, with Evergrande’s market value plunging to a record high of $ 3.54 billion. The company’s share price has fallen 85% since the start of the year.

Here’s a look at what Evergrande’s problems and potential default could mean for the property market in China and beyond.

Founded in 1996, Evergrande is a Fortune Global 500 company and its core business is real estate. Evergrande Real Estate has more than 1,300 projects in 280 cities or more in China, serving approximately 12 million homeowners, according to its website. Its real estate services arm, which was listed on the Hong Kong Stock Exchange in December 2020, has approximately 2,800 projects in more than 310 cities in China.

The group is involved in several other sectors such as electric vehicles, healthcare, streaming media, television and film production, food and mineral water, and life insurance.

The Hong Kong-listed company’s stocks and bonds are included in indexes across Asia.

The company faces a cash shortage and is among the most indebted real estate developers in the world. She borrowed heavily over the years to grow and acquire assets during China’s economic boom.

Last week, Evergrande provided a disastrous overview of its financial health.

“The company expects a continued significant decline in contract sales in September, leading to the continued deterioration in fundraising by the group, which in turn would put enormous pressure on the cash flow and liquidity of the group. group, “he said in a statement. stock market deposit September 14.

While September is generally a strong month for its real estate sales, the company expects a drop due to the drop in confidence of potential home buyers in the group, he said.

As part of the plans to alleviate the crisis and improve its cash position, the company is considering selling assets. However, it has made “no significant progress” on the sale of assets in Evergrande New Energy Vehicle Group, its EV unit, and Evergrande Property Services Group, it was said at the time.

Evergrande hired Houlihan Lokey and Admiralty Harbor Capital as joint financial advisers to assess its capital structure, assess the group’s liquidity and “explore all possible solutions”.

The business is in desperate need of fundraising to pay lenders and suppliers. He has a bond interest payment of $ 669 million due this year, with $ 83.5 million due September 23 for a dollar bill.

The company’s stock price has collapsed, trading in its bonds has been suspended, and its credit rating has been downgraded in a series of downgrades due to growing risk of debt default.

Market confidence in Evergrande began to deteriorate in May, as it scrambled to raise funds to keep creditors at bay. The promoter’s financing difficulties have fueled broader concerns about the outlook for the real estate sector.

Evergrande’s liquidity problems have intensified in recent weeks after several of its subsidiaries failed to repay wealth management products, a major source of short-term funding for the company and other developers.

Banks, home buyers, investors, bondholders, suppliers and contractors are among those affected by the risk of business failure.

Some analysts say it is too big to fail and that help will come from the Chinese government. Others argue that a restructuring is more likely, with other developers taking over unfinished projects from Evergrande.

Fears that Evergrande’s woes will spill over into the economy and overseas markets have been compared to the implosion of the American Lehman Brothers 13 years ago.

However, others see less risk of financial contagion.

“The story of ‘China’s Lehman moment’ is far from the truth,” Simon MacAdam, senior world economist at Capital Economics, said in a report. “On its own, a managed default or even a disorderly collapse of Evergrande would have little global impact beyond some market turbulence.”

Update: September 20, 2021, 6:35 a.m.

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Chinese company eVTOL Autoflight completes $ 100 million funding round http://sfeva.org/chinese-company-evtol-autoflight-completes-100-million-funding-round/ http://sfeva.org/chinese-company-evtol-autoflight-completes-100-million-funding-round/#respond Sat, 18 Sep 2021 10:31:40 +0000 http://sfeva.org/chinese-company-evtol-autoflight-completes-100-million-funding-round/

Shanghai-based Fengfei Aviation Technology, known by its English name Autoflight, is a leading R&D and manufacturing company for autonomous electric vertical take-off and landing (eVTOL) aircraft. The firm announced that he completed his $ 100 million A funding round. This is the largest single funding obtained to date by a national eVTOL company.

Xie Jia, vice president of Autoflight, said this round of funding will be used for R&D and manufacturing of manned eVTOL aircraft – essentially a “flying car” – high-end talent resources, airworthiness certification and expanding market application.

Autoflight was established on September 26, 2019, engaged in the design, R&D, manufacture and maintenance of unmanned aerial vehicles. The company’s R&D headquarters was established in Shanghai in 2017. In the domestic market, the company entered at a relatively early stage, specializing in the R&D and manufacturing of autonomous aircraft.

At present, Autoflight has more than 300 employees, of which more than half of the technical R&D personnel, engaged in aircraft design, flight control algorithm, automatic driving, AI, system avionics, power system and composite materials.

SEE ALSO: US files final decision: no DJI drone ban in US

Among the company’s products, the V400 Albatross has a maximum takeoff weight of 400 kg and a maximum load of 100 kg. The purely electric version has a range of 300 km. At present, this product is mainly used for heavy loads such as regional express logistics, emergency material transport and rescue. This product became the first pure eVTOL fixed-wing unmanned aerial vehicle to be officially accepted by the Civil Aviation Administration of China for airworthiness certification.

In terms of markets, Autoflight’s products are not only sold in the domestic market, but also spread to overseas markets such as Europe and the Middle East. It is reported that the company will achieve sales of 100 million yuan ($ 15.465 million) in 2021.

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EIB and Sofia grant 60 million euro loan for urban mobility – Just Auto http://sfeva.org/eib-and-sofia-grant-60-million-euro-loan-for-urban-mobility-just-auto/ http://sfeva.org/eib-and-sofia-grant-60-million-euro-loan-for-urban-mobility-just-auto/#respond Fri, 17 Sep 2021 21:25:07 +0000 http://sfeva.org/eib-and-sofia-grant-60-million-euro-loan-for-urban-mobility-just-auto/

The European Investment Bank (EIB) and the Municipality of Sofia signed a framework loan of 60 million euros (71 million US dollars) to promote sustainable urban mobility in the Bulgarian capital.

In accordance with the objectives of the General Development Plan of the City of Sofia and the Sustainable Urban Mobility Plan of Sofia, 2019-2035, the EIB will finance projects comprising the construction and rehabilitation of sections of the road and road network, parts of the tramway , as well as pedestrian and cycling infrastructure.

In addition, public transport projects such as buses and the installation of electric vehicle charging infrastructure can be supported.

“As the fastest growing Bulgarian city, Sofia faces the challenge of continuing to grow in an environmentally sustainable way,” said Lilyana Pavlova, EIB Vice-President.

“At the EIB, we are very happy to sign this loan which will support sustainable mobility projects and improve the daily life of the inhabitants of Sofia. Our funding will boost jobs, improve air quality and make Sofia a safer and faster place to travel.

For her part, the Mayor of Sofia, Yordanka Fandakova, added: “The European Investment Bank is a reliable partner of Sofia, which supports our biggest infrastructure projects.

“With the current construction program, we will build the missing sections of the downtown highway system, which will remove downtown traffic, reduce congestion and contribute to cleaner air.

“With the construction projects of the T. Kableshkov and Filip Kutev boulevards, we will improve mobility in the most densely populated southern districts and with the planned boulevards in the northern part of the city, we will give them a new development impetus.

“A flagship project for Sofia is the ‘Green Ring’, which will connect the main areas of the city with cycle and pedestrian paths. We continue to build and modernize tram lines, which improves transport connectivity.

“The funds provided will allow us for a short period of time to build infrastructure with a high environmental impact, improving the quality of life of more than one million citizens in Sofia.

https://www.eib.org/en/press/all/2021-302-eib-and-sofia-municipality-sign-eur60-million-loan-for-sustainable-mobility-projects

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