2023 - not too pretty horizon for many This map contains snapshots taken at the end of June (right side) and closing Dec 29th 2022.
The story is not pretty today and getting worse.
2023 will be the year where many EV “assemblers” (Tesla excluded) will find themselves declaring bankruptcies, mergers and or swallowed up.
This map only speaks to the so called “new entrants”.
Buckle-up.
If you sell components to any of these names, be sure to keep those account receivables tight - really tight to these assemblers.
PS - Most will be facing a substantial maturing loan portfolio in 2023 and 2024 and this is what could break the camel’s back.
https://share.mindmanager.com/#publish/RHEAwhFm16rkDpBKIxilOlzz9vNYhKxzSWF6Vvtr