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BMW invited dealers in the US at a two-day event in Las Vegas last week at the Aria Resort & Casino. It’s where retailers saw the next-generation X3 and X5 (with its X-shaped lights), not to mention the M5 Touring. However, the product onslaught is far more significant since nearly 40 facelifted and next-generation models are coming by 2030.
AN reports dealers were happy with what BMW was willing to share, mentioning the meetings with company representatives were “upbeat and positive.” CEO Oliver Zipse was allegedly at those meetings, along with sales chief Jochen Goller and CTO Frank Weber. BMW reportedly asked Snoop Dogg to perform and keep the guests entertained during those two busy days.
One dealer went as far as to say the “product is just unreal.” They added the upcoming EVs should have competitors such as Tesla worried because the “electric stuff is outrageous.”
https://www.bmwblog.com/2024/04/10/bmw-usa-tells-dealers-nearly-40-new-cars-coming-2030/
Can who ever stole Baxter’s phone please give it back as I keep thinking Iam on the wrong page when see Baxter and positive comments lol
Iam sure with a bit more news and 1 or 2 decent TPIs the SP will wake up.
August TPIs and results and forecast is the next big thing but we need regular news to stop it drifting south. Seen it so many times it’s like snakes & ladders. The past news is quickly forgotten with SEE.
Even Sifel has been re-iterating 15p since fleet was prob 40,000 units & auto booked business prob $300m. Will they be still re-iterating when auto $600m and fleet 80,000 connections?
Baxter,
Glad to see that you've decided 3m cars this year is doable.. Indeed, I hardly recognise you. You're even more bullish than Safestocks, which I take as a strong 'BUY' signal. Moreover, now that you've become optimistic, I feel Mr Market will soon follow your lead and change his/her/their mind....(I'm no good with pronouns).
To add my penny worth. I don’t think we can compare the 2022 share price as that was early in the rapid rise in interest rates amid high inflation. Monies poured out of equities (especially AIM) and into bonds. Hopefully we will start to see some rate cuts and settle back into the 4% range. Once the first cut or two is made funds will flow back into equities , IMHO, and this should coincide with cash break even. I am very confident the share price will see positive step changes beyond the 11p.
And so I am buying more buoyed by the KPIs and latest interview. DYOR - GLA
My guess is that other oems will wait to see what score ncap gives the mirror based vw cars when they are assessed. Occupant and Driver scores are broken down in that section. Some of the smarteye ones haven't got full scores as far as I can interprete and the steering wheel barely 2024 compliant ones don't score well so 5 stars.wont be gotten by anything that's not camera based. I think i saw a CB linkedin post that suggests that other oems are waiting on the ncap score magna mirror gets and then award accordingly. Mirror should be quick integration vs other led/camera positions so maybe some bases have been covered by contingency hence delays on awards. Make what you will on CBs take - he clearly knows people in the space that will talk off record and gets most calls right.
But I’m a bit more optimistic the last few weeks than for a while. I tend to take with a pinch of salt most of safestocks predictions but to say we will be in 3 million cars by end of 2024 seems very doable. Needs less than 400k average each of the next 3 quarters. I’m going to say we smash through that 3 million mark comfortably but I still don’t get why the market is getting it. A decent fleet contract or some other positive rns in the foreseeable would keep current momentum going
Understood. But factor in DMS is at last having some traction and more people are discovering what it's all about. Like most I was too early, but the past is no guide to the future in my view. Stay positive.
Nice to have some good news in the last 2 weeks with the contract extension (all bit it small over the period stated) and the good increase in auto kpi's.
However surprise surprise all it has done to the SP is get it back to where it was before the market dropped it down to 4p during the last part of March and April.
I must admit the progression in the business has always been there which is why I have always continued to hold, but I was just really peeved off with all the bullish statements made that haven't happened, such as the 2bn RFQ's, 3-4 mirror rfq's, six figure fleet rfq's etc... - I wouldn't be annoyed at all if PM hadn't said those things because there has been regular progression with contracts and KPI's, just not to the scale that was implied.
As long as they do hit cash breakeven during FY2025 and with the ramp up of VW and BMW I can't see how the SP can stay at these levels, but the market is not logical so until that SP is back to those 12p levels I still won't be completely happy.
I thought the proactive interview was better with no wild claims on RFQ's etc (I suppose I'm just going to have to accept things have dramatically changed after PM stated those things or they were white lies to try and gain momentum in the SP). The only extra thing he did imply was a step change in Fleet in 6 months time when selling into the Northern hemisphere after focus on Europe - you see to me a step change is something significant again, not just adding 10k units to fleet every year, so I will be adding that to the list.
I just wish we could get something that could blow the bloody doors off like another Magna VW contract - I can't understand why that hasn't happened yet. It should also stop this annoying drop in SP between news because part of me things that all that is going to happen now is the SP will be walked down again and then the kpi's in August will just move it back to 5.5-6p again.
I find we are getting better press recently, and people’s opinions here’re are more positive.
I’m expecting a big change over the next 6 months, the KPI ´d in August should raise awareness and if in 400-500k cars this quarter it’s certainly going to be a game changer and show what will be the norm over the following years. 100% yearly growth will be amazing and not many companies can achieve that.
Plus all the things Terry has mentioned.
Good list Terry,
However I noticed that you forgot all about the 1.6 billion or so of RFQs which have just slipped off everyone's radars. What is going on with all of these potential RFQs ?
A few biggies from Toyota, Mazda, Subaru, Hyundai or whoever...... that would set the share price rising properly.
Patience chaps, as ever. GLA.
Seize
Hopefully next 4 months on a upward trend. We could really do with
1. 1 or 2 bits news every month as we know this always drifts down not up :(
2. Good TPIs in August to end of June
3. Good results announced in August upto end June
4. Positive forward forecast in Aug for FY25
5. Some Aviation and Fleet wins/news etc
Us long term holders really deserve this to fly one day but be over 10p by August as a starter....
As soon as it is, we will sell. No messing around this time. I have no doubt it will rise higher than that but we need the money.
A lot has happened since then & we’ve had our doubters but you have to say SEE is in good health & just needs to keep to their promise of break even !
If we can manage that we will be seen as a powerhouse & licence machine similar to ARM in its early days.
We also have an aviation contract to win as Collins will be issuing a statement soon on the blue label product ! We have a blue label coming this month according to PMG & Martin Ive🙏
Won’t be long till we are back at 11p, could happen by September if we keep on track & produce the numbers expected by the analysts.
Certainly, house broker Stifel seems very confident. Yesterday, its analyst Peter McNally put out a note summarising the positives:
“The highlight of Seeing Machines Q324 KPIs (Jan-March ’24) are Automotive production volumes which are up 51% or more than 105k to c.313k in just three months (+80% y/y). This is welcome news after a still healthy but slightly slower Q224 and is likely to affect the shares positively, in our view.The news comes with further reiteration from the company that it is on track to meeting FY24 (to June) expectations and continues to expect a cash flow break- even run rate during FY25. We make no changes to estimates as we approach year end but see this as positive given its main competitor recently pushed out its breakeven potential target by up to six months.The shares remain one of our top picks within the sector as we approach regulatory mandates for all new vehicle types in the EU. We think investors should take advantage of the current price given the shares trade at 4.1x EV/ Sales for FY24E or 3.1x for FY25E. Buy.”
He maintains his target price of 15p.
UK start-up Wayve secures over $1bn to further progress its AI tech for self-driving vehicles.
Substantial investment in artificial intelligence (AI) start-up Wayve marks Europe’s largest AI funding deal to date and “anchors the UK’s position as an AI superpower”.
The $1.05bn funding round, which includes investment from SoftBank Group as well as Nvidia and Microsoft, will enable the British company Wayve to develop and launch the first “embodied AI” technology for self-driving vehicles in the UK.
The start-up, which has previously received funding from big name investors including Microsoft, Virgin and Baillie Gifford, was founded in 2017 with the aim of reimagining mobility through embodied intelligence.
Rather than launching its own fleet of vehicles, Wayve’s approach is to partner with carmakers to integrate its embodied AI system into their existing vehicles. According to the company, deploying such a scalable and financially viable AI-driven solution will accelerate the transition from driver assistance systems to full autonomy.
This latest investment will give this approach a boost. As Kendall said: “With the support of visionary investors and strategic partners, we are poised to accelerate our embodied AI product.
“Our collaboration with Microsoft and Nvidia, leveraging Microsoft Azure to scale our AI models and advanced embedded computing platforms like Nvidia Drive Orin and Thor, underscores our commitment to leading the AI-driven transformation in automotive technology.”
This investment deal is significant for the UK, which has ambitions of being a world leader in the AI sector. Prime Minister Rishi Sunak said: “The fact that a homegrown British company has secured the biggest investment yet in a UK AI start-up is a testament to our leadership in this industry.
https://eandt.theiet.org/2024/05/07/british-start-wayve-secures-over-1bn-further-progress-its-ai-tech-self-driving-vehicles
Do consumers want driverless cars?
The experience is magical when you sit in it and try it. It’s pretty clear the errors humans make while driving, and the stress it causes. This technology can really evolve. The key thing is that we need to deploy it responsibly, so making sure we have the appropriate driver-monitoring systems that mean it’s not misused.
A Self-Driving Splash
Self-driving vehicle development has had no shortage of setbacks in recent years.
Uber sold off its driverless car division after a fatal crash it never recovered from. Argo AI, the startup Ford and Volkswagen had each seeded with billions of dollars, folded after its backers lost patience with how long it was going to take to commercialize the technology. General Motors’ Cruise is crawling back from a crisis precipitated by one of its cars running over and dragging a pedestrian.
So the news that Wayve, a UK self-driving startup founded in 2017, has raised $1.05 billion from high-profile investors including SoftBank, Microsoft and Nvidia is a welcome boost for the sector. It also underscores the extent to which investors can’t get enough of all things artificial intelligence.
https://www.bloomberg.com/news/newsletters/2024-05-07/softbank-backed-self-driving-ceo-says-tesla-is-taking-after-him
Tesla has until July 1 to comply with the data request about its Autopilot recall.
The federal government has given Tesla quite the homework assignment. The electric automaker has until July 1 to reply to a massive data request from the National Highway Traffic Safety Administration, which is investigating the efficacy of Tesla's massive Autopilot recall, following at least 20 crashes post-recall.
Tesla decided to recall more than 2 million cars in the US—almost every vehicle it has ever sold here—in December 2023, following an engineering analysis by NHTSA that found the automaker's Autopilot driver assistance feature had inadequate driver monitoring and that Autopilot was too easily misused.
Last month, we discovered that NHTSA is not happy with the Autopilot recall. Now, the agency has made public the letter it sent Tesla this week, demanding a whole lot of answers by July 1.
Tesla also increased driver monitoring for a short while after Autopilot is engaged. It introduced one-week suspensions from enabling the system "for drivers who receive three or five forced Autopilot disengagements (depending on cabin camera availability)." Finally, it enlarged the warning alerts shown to the driver on the infotainment system.
But NHTSA says it knows of at least 20 crashes involving Tesla Autopilot that fall into three different categories. It says there have been nine cases of a Tesla having a frontal collision with another vehicle, object, or person, for which there was time for an alert driver to have avoided the crash. Another six crashes occurred when Teslas operating under Autopilot lost control and spun out or understeered into something in a low-grip environment. And five more crashes occurred when the driver inadvertently canceled the steering component of Autopilot without disengaging the adaptive cruise control.
https://arstechnica.com/cars/2024/05/nhtsa-wants-autopilot-answers-from-tesla-after-20-post-recall-crashes/
Good interview that. Very relaxed.
100% growth auto
Fleet should start growing this current year
Without giving anything away that he would get shot for if it was late, I liked the assured confidence.
I trust his leadership, that's why I remain fully invested.
Https://www.youtube.com/watch?v=YvQmTJm_Yb0
Great KPIs yesterday.
Absolutely. It's a driver monitoring system, the source of the fuel to the vehicle is irrelevant and the type of vehicle is irrelevant. SEE can and does provide their technology to cars, trucks, buses, trains, aeroplanes! Etc etc.
Take a deep dive into the business, I'm sure you will be impressed and can see the potential. Thanks
I ask because in Europe there is a strong aversion to EVs.
Successful start to 2024.
Parallel to our dynamic BEV ramp-up, we achieved our margin targets in the first quarter. We continue to generate strong demand with our strong products.
“The past nine quarters underline BMW's continuity and reliability: As planned, we are dynamically expanding the share of electric vehicles while maintaining our high level of profitability. Some call this transformation — for us, it is continuous progress,” said Oliver Zipse, CEO of BMW AG.
Learn more here: http://b.mw/rsyy6
To my mind what matters on DMS is the revenue to Seeing Machines from OEMs. I don't think we know how that's calculated. But as the OEMs agreed it it probably reflects the revenue they are receiving.