OK, 7 part esssay in 5 easy pieces and
1 Big Question, why, if the EV market is expanding are revenues AND Accounts Receiveable falling... other than the Chef Exit Officer is missing more than reported. Current Assets The decrease in current assets of $300 million at the end of fiscal 2023 from the end of fiscal 2022 was primarily due to decreases in short term investments of $203 million, a decrease in cash and cash equivalents of $83 million, a decrease in accounts receivable, net of allowance of $18 million, a decrease of $13 million in other receivables and a decrease income taxes receivable of $6 million, partially offset by an increase in other current assets of $23 million. At February 28, 2023, accounts receivable, net of allowance was $120 million, a decrease of $18 million from February 28, 2022. The decrease was primarily due to lower revenue recognized over the three months ended February 28, 2023 compared to the three months ended February 28, 2022, offset by an increase in days sales outstanding to 75 days at the end of the fourth quarter of fiscal 2023 from 67 days at the end of the fourth quarter of fiscal 2022.
The only detail missing above is how do planets form and why don't astronomers call Jupiter, Hoover? It vacumed up an entire beltway of material between it and Mars, just as BB c e o has sucked the company dry with empty Cylance and bank accounts keeping up to his Fired or Acquired Employment Contract.
2nd question, where the F is all the revenue from all the EV's currently being produced?
As the landscape of electric vehicles explodes in People’s Republic, interested buyers—and fretful domestic makers —wonder which Chinese brands will actually make it to these shores. - China’s booming demand for EVs is supporting the development of numerous new brands.
- Chinese buyers bought 6 million EVs last year, 60 percent of the total global market.
- Many Chinese makers are now launching in Europe—but will any come to the States?
Walking around the vast Shanghai auto show last month was like passing into a parallel dimension for anybody used to the automotive landscape of the United States. Most of the global premium and luxury automakers were indeed present, trying to interest wealthy Chinese consumers in their products. But many of the exhibitors were completely fresh, stands packed with unfamiliar cars from unfamiliar brands. You might have heard of China’s better-known automakers like Geely, Great Wall, Nio, and BYD—the last short for “Build Your Dreams.” But what Aito, HiPhi, Lixiang, Ora, or Zeekr? All are becoming major players in their home market.
Many of the new Chinese brands are EV only, established to try and satisfy the seemingly insatiable appetite of the People’s Republic for electric models. Last year the Chinese bought nearly six million EVs, 60 percent of the total global production. This year’s numbers are already rising, with BYD now the world’s second-largest manufacturer, behind only Tesla. In the first quarter of this year BYD sold 260,000 electric cars, more than double the figure for the same period in 2022. Tesla built 440,000 vehicles globally in the same quarter, including many in China, but the gap is shrinking. While many of these EVs are low-cost models, many are also packed with technology and have range and performance comparable—or superior to—American or European alternatives.
Leading to the obvious question from the point of view of putative EV buyers in the U.S.—how long will we have to wait for some of these Chinese models to get over here.
The answer to that depends on your definition of what makes an automaker Chinese. The seemingly ever-expanding Geely Group already owns Volvo and Polestar, but although the fully electric C30 and XC40 Recharge that come to the States are manufactured in Europe, the closely related Polestar 2 that sits on the same CMA platform is built in Luqiao, China. So on that basis the race has already been won.
Further out, the Lotus Eletre, which we drove in prototype form last week—and which is also a Geely Group product—will be reaching the U.S. in 2024 from a factory in Wuhan. Another of Geely’s portfolio of brands, Lynk & Co, has been talking about entering the United States since 2018. Its original plan to start sales in San Francisco in 2020 didn’t happen, but Lynk hasn’t given up on plans to come here, and would likely launch with a range consisting entirely of Chinese-made EV models.