21Q3 ARVL ER Transcript
- https://seekingalpha.com/symbol/ARVL/earnings/transcripts
- ARVL is not an automative biz. It is a platform technology biz.
- Our First Bus to be used for validation has been completed, which is an important milestone for the company. And I can share it is a remarkable product.
- 才是第一台Bus，按照Sandy Munro的说法，这是phase 0，是Lab到生产线的第一步
- 5 platforms: van, large van, bus, bus for merging market, car
- 下一步是create tens of vehicle platforms
- We have revised our ‘22 expectations with a more conservative view - 这句话完蛋了。 Withdraw our long-term forecast. SPAC的时候吹牛吹的太大了
- 2400 employee.
- Expectation: Q2 2022 production of bus, Q3 2022 van.
- Rock Hill开始equipment installation
- ARVL有个很奇怪的concept - Microfactory
- CFO:
- 381M UK$, Capex 81M UK$，还能支撑4个Qtr？
- Revenue is expected to start in the second half of 2022 and be weighted towards the fourth quarter. 不太可能啊，刚刚一辆测试车，一年就生产？
- QA：
- Michael Filatov with Berenberg: One of your competitors sort of on the bus side puts out sort of a public market bid universe for the buses. 这是谁啊？
- Analysts很惊讶slower ramp up of production. 现在开始怀疑他microfactory的概念，原本的好处是low capex，但是ARVL开始bring in电池的生产，还有delay
- 我看了一眼，上个Qtr ER，完全没有任何的预警，相当positive，多少新订单，production on track，这次太意外了
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