"Raising Big Money Then Falling" says Randy Essex, USA Today and it makes one wonder. Buy an EV from a start-up, established company or combo of both with all-electric vehicles?
Randy writes " Rivian's initial public offering last year raised $11.9 billion. The share price hit a peak of $172.01 on Nov. 16. At the end of the year, that was down to $103.69.
The stock has tumbled further since then, closing the first quarter at $50.24, costing Amazon $7.6 billion in the quarter and Ford $5.5 billion.
Rivian recently closed around $20.00. Does that make those early buyers and/or investors feel a bit stranded like an EV on e-empty?
Consider investing in a local repair facility who convert ICE (internal combustion engines) to all-electric saving money, some perfectly good vehicles while arranging local, State and Federal credits. And most projects can be financed with the savings in fuel over 3-5 years paying the payments.
Our favorite is USA based SELOC, a for-profit, State of Delaware Public Benefit Corporation offering shares while creating jobs and some of the coolest vehicles on God's Green Earth. For more information on conversions, just reach out here.
As Cooley from the Road Show shows, there are plenty of choices and reasons to go with a conversion from ICE to EV.
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