RE: Administration28 Jun 2023 22:15
I looked at the company when it was listing and turned down the ‘opportunity’
It was massively oversubscribed by many analysts who really did not understand the business beyond the word ‘battery’
The reality is it was massively overvalued at IPO.I doubt many looked at the margin on cell manufacture, about 3pc, the cost of a gigafactory, the fact the factory site is 400 miles from the action, there were no contracts.
What they had was some interesting chemistry and know how.That’s it.
Oh and I forgot they would be relying on Nicola Sturgeon and her largesse.
It’s toast