RE:RE:Update on the GigafactoryNever the less, regardless of the allegation being that the $500 Million financing package has in fact finally been locked in by or on behalf of VoltaXplore, the mere fact being that the company has now elected to indicate and broadly disseminate the selection of a location, Terrebonne, Quebec, for the 2GWh capacity battery cells manufacturing facility does suggest a likely property acquisition would be expensed no sooner than the begining of 2024 and that acquisition of needed facility production equipment would also be finalized no sooner than the beginning of 2024.
Essentially we can safely assume NanoXplore/VoltaXplore is done shopping and ordering requisite goods and services and that such orders require initial deposits and accompanying payments which would necessarily be expensed during this Q2 2024.
If NanoXplore is going to own either the lease or the very land upon which VoltaXplore 2GWh manufacturing facility is to be built upon, necessary deposits and payments won't be expensed until the beginning of 2024, due to eligibility concerns of such deposit or expenditures for the Federal Canadian Government provisioned investment tax credit. You'll recall it's a investment tax credit for NanoXplore, VoltaXplore, along with critical elements miners and processors, battery materials process manufacturing and battery cells manufacturing companies clearly supporting the mandated and expedited forging of the Canadian link to a North American and global EV manufacturers supply chain.
Also, the very fact being that NanoXplore representatives elected to point out within this recent AGM presentation precisely which type of customers NanoXplore would be looking to be absorbing the remaining 1GWh worth of VoltaXplore manufacturing capacity by way of production offtake agreements, coupled with the comments by Mr. Nazarpour clearly suggesting that NanoXplore/VoltaXplore was seeking to attain an additional level of capital investment commitments from such offtake purchasing customers and investors, indicates for me a level of confidence on the part of NanoXplore officers and directors that such customers would also become "secured capital" investors and stakeholders supporting the 2GWh facility build and operation.
If you ask me. I've long said that I preferred the primary stakeholders of The Lion Electric Company, which is another Quebec domiciled company and also a battery packs assembly production and heavy commercial vehicles manufacturing (buses and trucks) operations comprising corporation, to strike and sustain a long term customer relationship with both NanoXplore for it's vehicles lightweighting products and VoltaXplore for it's advanced graphene enhanced and lightweighted battery cells manufacturing and initial 10 year supply capabilities.
In stating the obvious, we know that Desmarais family stakeholders, by way of their Power Corp Financial and other controlled corporate entities, would serve in opening oh so many doors to would be provisioned capital investments within Quebec, Canada.
By the way, The Lion Electric Company's Mirabel located facility received, only a couple of days ago, international certification of said company's assembled battery modules and full battery packs. You have to wonder whether - I certainly have - NanoXplore proprietary technologies can some day be found as foundationally supporting a proprietary new line of those now fully internationally certified and Lion Electric Company assembled battery modules and full battery packs?