Joint venture6 May 2015 21:25
IMO.. A dog losing a fortune teaming up with a dog losing a fortune - this will never be profitable, just look at how much Smiths have spent in the last 5 years with no return! Every vehicle Smith sells is at a loss so the business model isn't sustainable until mass volumes are manufactured, at which point you will see the large vehicle manufacturers enter the market and Smiths will disappear into a cloud of smoke. Lots of hot air but no real long term value! Current Smith shareholders trying to list on a US exchange for years so they can offload their holding.
Would have already gone under but for US administration trying to save face on the back of their 'support' --- still, lets watch the losses being posted year on year and see what happens!