Electric Van Maker On Verge Of Bankruptcy
October 12, 2023
By Paul Homewood
h/t Ian Magness
From the Telegraph:
Where have all the green jobs gone?
21 Comments
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NOT A LOT OF PEOPLE KNOW THAT 
I think eventually most will fail if not all unless they bailed out by taxpayer $$
The $13bn valuation is external to the company.
A company sells stock to raise capital. The stock then belongs to someone else. The company has a strong interest in the stock’s value, but the report makes it sound like Arrival lost $13bn. They didn’t.
‘electric van maker’
What does ‘van’ mean in British English?
This.
(Source: https://www.getsurrey.co.uk/news/local-news/van-fire-sees-m25-shut-5834752 )
Thx
Diesel ? How is this relevant?
Diesel and petrol are practical and what actual customers need and want.
Electric vehicles are a very small niche. The range problem of EVs is even worse for vans than it is for cars.
Dutch truck manufacturer DAF has been making electric trucks for a few years now. They have recently introduced a new model the DAF XB Electric. It comes in 16 tonnes and 19 tonnes versions and they claim a range of up to 350km. Has a Lithium Ion Phosphate battery and a rapid charging of 40 – 70 minutes.
“Where have all the green jobs gone?”
“Oh, when will you ever learn?”
“Long time passing”
Long time charging? 🤔
Not only long time charging, but also multiple times
>>Long time charging?
It’s song lyrics, Harry.
CSN?
Bratby borrowed from “Where have all the flowers gone.” Pete Seeger, 1955.
$13 billion? That implies annual profits of $1.3 billion at a 10x PE. At a net profit of $2,000 per vehicle, that’s annual sales of 650,000. Were people completely mad?
Anyone remember Modec?
https://en.wikipedia.org/wiki/Modec
400 vans made, died 2011, capacity for 5000 vans pa
History repeats …… ?
Although it did not get much mention in the media , another large EV van maker went down a few years ago .https://www.technocracy.news/streetscooter-first-large-bankruptcy-in-electric-mobility/
Street Scooter supplied over 15000 vehicles to the German Post office etc .
But they were never up to the job , just like they would never work here .
With the growth in home delivery , there is something like over 6 million vans on UK roads , most of which would need charging up every night .
Just these would need nearly a doubling of the grid capacity , without allowing for private EV cars etc .
Unless the companies involved buy their own very large diesel generator trucks ?????
This is pure speculation but having seen how well meaning virtue signalling projects in the third world have been doomed to failure because of the lack of oversight allowing cancer like worthless bureaucracies of professional jobsworths to metastasise, people who travel the world enjoying opulent lifestyles performing”critical” functions (otherwise known as pontificating and self enrichment). I would suggest that a close look at the funding of this organisation will reveal a cast of thousands of diversity leads, equity leads, certain religious awareness leads ad nauseum, something which has been delivered on an epic scale in that other milk cow HS2, where the idiot in chief and virtue signaler extraordinaire provides a masterclass in how to spend eye watering amounts of money, and yet do less than nothing. https://www.spectator.co.uk/article/the-deep-absurdity-of-hs2diversitysagenda/utm_medium=email&utm_source=CampaignMonitor_Editorial&utm_campaign=LNCH%20%2020230926%20%20Charles%20Stanley%20%20SM+CID_4742d7ab4c9d000e6622182d2b1ec3e4
According to the Guardian they had a contract with UPS for 10,000 vans in 2020.
https://www.theguardian.com/business/2020/jan/29/uk-electric-van-maker-arrival-secures-340m-order-from-ups
I have never seen one on the road.
They also have a “history”, they were Charge R&D Limited (2015–2016) & Charge Automotive Ltd (2016–2017)
I wonder how many of these “Reduced Carbon Footprint” Ambulances will ever get built?
https://www.edp24.co.uk/news/23851685.bevan-davidson-swaffham-produce-groundbreaking-ambulance/