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2021-09-20

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If there were a ‘Big Three’ of electric vehicle makers, who would join Tesla?<blockquote>如果有 “三巨头 ”电动汽车制造商，谁会加入特斯拉？</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":860093919,"tweetId":"860093919","gmtCreate":1632104525231,"gmtModify":1632802814289,"author":{"id":3586224735052437,"idStr":"3586224735052437","authorId":3586224735052437,"authorIdStr":"3586224735052437","name":"Snakewood","avatar":"https://static.tigerbbs.com/bc93ca606276924f9b006b7e016cae4d","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":13,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":13,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Good info</body></html>","htmlText":"<html><head></head><body>Good info</body></html>","text":"Good info","highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/860093919","repostId":1165266849,"repostType":2,"repost":{"id":"1165266849","kind":"news","pubTimestamp":1632095568,"share":"https://www.laohu8.com/m/news/1165266849?lang=zh_CN&edition=full","pubTime":"2021-09-20 07:52","market":"us","language":"en","title":"If there were a ‘Big Three’ of electric vehicle makers, who would join Tesla?<blockquote>如果有 “三巨头 ”电动汽车制造商，谁会加入特斯拉？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165266849","media":"MarketWatch","summary":"Delays at young electric-vehicle companies suggest that large auto makers are best placed to challen","content":"Delays at young electric-vehicle companies suggest that large auto makers are best placed to challenge Tesla in the future, but the smart money is chasing less glamorous names <blockquote>年轻电动汽车公司的延误表明，大型汽车制造商最有能力在未来挑战特斯拉，但聪明的资金正在追逐不那么迷人的名字</blockquote> <img src=\"https://static.tigerbbs.com/bf4fe95f357a1ce8ef9aeefc9e1e62d0\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\">MarketWatch photo illustration/Tesla, iStockphoto<blockquote>MarketWatch 照片插图/特斯拉，iStockphoto</blockquote> When Henry Ford was reorganizing his Detroit Automobile Company into what would become the juggernaut of U.S. auto manufacturing, hundreds of other young auto makers were also starting up.<blockquote>当亨利·福特将他的底特律汽车公司重组为美国汽车制造业的巨头时，数百家其他年轻的汽车制造商也在创业。</blockquote> One of them, the National Motor Vehicle Car Manufacturing Co, started out in Indianapolis, which boasted six automakers in 1906. National Motor even competed in and won the 1912 Indy 500. Sales boomed and it expanded production, but after a merger with Associated Motor Industries in 1922, the company ended up in receivership in 1924. Like hundreds of other early car companies, none of those six Indianapolis players survived.<blockquote>其中之一，国家汽车制造公司，在印第安纳波利斯成立，1906年拥有六家汽车制造商。国家汽车公司甚至参加了 1912 年印地 500 大赛并获胜。销售蓬勃发展，产量扩大，但在 1922 年与联合汽车工业公司合并后，该公司于 1924 年陷入破产管理。与其他数百家早期汽车公司一样，这六家印第安纳波利斯公司没有一家幸存下来。</blockquote> Investors eyeing the electric vehicle space today may have a sense of déjà vu. The huge number of companies, large and small, currently working on electric vehicles or their components is reminiscent of the turn of the 20th century, when companies like National and others experimented with body forms and engine types, from steam-powered to internal combustion to early versions of electric vehicles.<blockquote>如今关注电动汽车领域的投资者可能会有似曾相识的感觉。目前有大量大大小小的公司致力于电动汽车或其零部件，这让人想起 20 世纪初，当时 National 等公司尝试了车身形式和发动机类型，从蒸汽动力到内燃机再到早期版本的电动汽车。</blockquote> By the 1929 stock market crash, there were only about 40 auto makers left, and that number eventually shrunk to where the top companies in the U.S. are referred to as the “Big Three.” Similar shakeouts occurred globally, with Big Threes emerging in other countries, like Japan and Germany.<blockquote>到 1929 年股市崩盘时，只剩下大约 40 家汽车制造商，这个数字最终缩小到美国最大的公司被称为 “三巨头 ”。类似的洗牌也发生在全球范围内，日本和德国等其他国家也出现了三巨头。</blockquote> One major difference between then and now, said Brett Smith, director of technology research at the Center for Automotive Research, or CAR, is that 100 years ago, “everybody was starting from scratch—no one had an advantage,” while today, traditional auto makers already know how to build cars and create huge assembly lines.、<blockquote>汽车研究中心（Center for Automotive Research，简称 CAR）技术研究主任布雷特-史密斯（Brett Smith）说，当时和现在的一个主要区别是，100 年前，“每个人都是白手起家--没有人有优势”，而今天，传统汽车制造商已经知道如何制造汽车和建立庞大的装配线。</blockquote> ‘Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.’” — Brett Smith, director, technology research, Center for Automotive Research <blockquote>“在接下来的5年里，其中一些公司将会有一些显著的增长。但也会有一些人无法成长和挣扎。与五年前相比，这些公司有更多值得乐观的地方，因为这项技术正在接近更广泛的采用。问题是传统汽车公司现在也开始涉足这一领域，竞争更加激烈。”--布雷特-史密斯，汽车研究中心技术研究总监</blockquote> The question for investors then is which companies will become the big 3 of EVs?<blockquote>那么投资者的问题是，哪些公司将成为电动汽车三巨头？</blockquote> The company with the biggest advantage in electric vehicles today is Tesla Inc.&nbsp;which has finally proved to the world that EVs are the future. As rival startups and legacy automakers seek to emulate its success, investors must ponder which EV companies will succeed and which will disappear.<blockquote>当今在电动汽车领域拥有最大优势的公司是特斯拉公司，该公司最终向世界证明了电动汽车是未来。随着竞争对手初创公司和传统汽车制造商寻求效仿其成功，投资者必须思考哪些电动汽车公司将取得成功，哪些公司将消失。</blockquote> Globally, there are hundreds of startups working on some aspect of electric vehicles, from creating the car, to charging station infrastructure, improving the manufacturing process, developing new battery technologies and working on fuel cells. CB Insights of New York said it is tracking more than 700 startups around the world that are active in the space.<blockquote>在全球范围内，有数百家初创公司致力于电动汽车的某些方面，从制造汽车，到充电站基础设施，改进制造工艺，开发新的电池技术和研究燃料电池。纽约CB Insights表示，它正在跟踪全球700多家活跃在该领域的初创公司。</blockquote> “There seems to be a new one every day,” said Smith of CAR.<blockquote>“汽车公司的史密斯说：”似乎每天都有新的。</blockquote> Since February, the shares of many better known startups have lost much of their value because of serious issues, including regulatory inquiries or investigations, class action lawsuits, management tumult and abrupt executive departures. Piling onto these woes — which mainly stem from overpromising and under-delivering — is a semiconductor shortage hampering efforts to get first products out the door.<blockquote>自2月份以来，许多知名初创公司的股票因严重问题而贬值，包括监管机构的询问或调查、集体诉讼、管理层的混乱和高管的突然离职。半导体短缺阻碍了首批产品问世的努力，而这些困境主要源于过度承诺和交付不足。</blockquote> Several publicly traded EV makers are still technically startup companies, with no revenue or much operational history. But because of the SPAC boom, and the de-SPAC process, they are now publicly traded companies, leaving investors making bets like venture capitalists on the next Tesla.<blockquote>几家公开交易的电动汽车制造商在技术上仍是初创公司，没有收入或太多运营历史。但由于特殊目的收购公司的热潮和去特殊目的收购公司的过程，它们现在是上市公司，让投资者像风险投资家一样押注下一个特斯拉。</blockquote> “What they are doing is very hard,” said Smith. “Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.”<blockquote>“史密斯说：”他们正在做的事情非常困难。“未来 5 年，其中一些公司将取得显著增长。但也有一些公司没有发展壮大，举步维艰。与五年前相比，这些公司有更多值得乐观的地方，因为这项技术越来越接近更广泛的采用。问题是，现在传统车企也开始涉足，竞争更加激烈。”</blockquote> As a result of some of those issues, no revenue is expected for the rest of the year at Nikola Corp.,Lordstown Motors Corp.&nbsp;and Fisker Inc., &nbsp;with all three companies predicting their first vehicles sometime in 2022, if their current forecasts can be believed.<blockquote>由于其中一些问题，Nikola Corp.、Lordstown Motors Corp. 和 Fisker Inc. 预计今年剩余时间不会有收入，这三家公司都预计将在 2022 年的某个时候推出第一批汽车，如果他们目前的预测是可信的。</blockquote> “I&nbsp;know&nbsp;it&nbsp;sounds&nbsp;like&nbsp;a&nbsp;broken&nbsp;record and it’s boring, but I think in this case, the broken record is quite good to keep on saying that we are on time on the Ocean program and we are on budget,” Fisker co-founder, Chairman and Chief Executive Henrik Fisker told analysts in the company’s earnings call last month.<blockquote>“菲斯克公司联合创始人、董事长兼首席执行官亨里克-菲斯克（Henrik Fisker）上个月在公司财报看涨期权上对分析师说：”我知道这听起来像是破纪录，也很无聊，但我认为在这种情况下，破纪录是很好的，可以继续说我们在海洋项目上按时完成，我们在预算范围内。</blockquote> Fisker said the company will start production on Nov. 17, 2022, which actually looks good compared with other startups. Morgan Stanley analyst Adam Jonas said in a note that he believes&nbsp;Fisker “may be one of the only EV startups to actually launch on time and ramp efficaciously in late 2022.”<blockquote>菲斯克表示，该公司将于2022年11月17日开始生产，与其他初创公司相比，这实际上看起来不错。摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）在一份报告中说，他认为菲斯克 “可能是仅有的几家真正按时推出并在 2022 年底有效提升的电动汽车初创公司之一”。</blockquote> These companies, plus Faraday Future Electric Inc.,Canoo Inc.,Lucid Group&nbsp;and the soon to go public Rivian, are among the top funded EV makers in the U.S. But while many have received billions from investors through private funding rounds or SPAC deals&nbsp;–&nbsp;electric truck-maker Rivian has raised $10.5 billion — some are now encountering credibility problems.<blockquote>这些公司，加上 Faraday Future Electric Inc.、Canoo Inc.、Lucid Group 和即将上市的Rivian，是美国资金最多的电动汽车制造商之一。但是，尽管许多公司通过私人融资轮或 SPAC 交易从投资者那里获得了数十亿美元——电动卡车制造商Rivian已经筹集了 105 亿美元——但一些公司现在遇到了信誉问题。</blockquote> For example, Lordstown — an electric truck-maker which took over a former GM factory in an area of Ohio referred to as Voltage Valley — disclosed in July that its merger deal was being investigated by the Securities and Exchange Commission and the Justice Department, for a variety of matters, including information provided to investors about its pre-orders. Lordstown added a “going concern” warning to regulatory filings and clarified that the orders it had were not binding.<blockquote>例如，电动卡车制造商 Lordstown 接管了俄亥俄州 Voltage Valley 地区的前通用汽车工厂，该公司在 7 月份披露，其合并交易正在接受美国证券交易委员会和司法部的调查，涉及各种问题，包括向投资者提供有关其预购订单的信息。Lordstown 在监管文件中添加了 “持续经营 ”警告，并澄清其收到的命令不具有约束力。</blockquote> “To do what Tesla did, build a car company from the ground up and all the way through to distribution, that took a phenomenal amount of money,” Smith said. Tesla is now almost 18 years old. After raising $226 million in its 2010 IPO, it has gone back to the capital markets frequently, raising more than $20 billion through secondary stock sales and debt offerings.<blockquote>“史密斯说：”要做特斯拉所做的事情，从头开始建立一家汽车公司，一直到分销，这需要大量的资金。特斯拉现在快18岁了。在2010年IPO融资2.26亿美元后，该公司频繁重返资本市场，通过二次股票销售和债券发行融资超过200亿美元。</blockquote> Workhorse Group Inc.,which makes electric “last mile” delivery vans and utility vehicles, also was reported to be the target of an SEC investigation, and Trevor Milton, the founder of Nikola Corp.&nbsp;has been charged with securities fraud in federal court in the Southern District of New York, allegedly for overinflating the developments at the electric truck maker. Milton has stated that he is innocent.<blockquote>据报道，生产电动 “最后一英里 ”送货车和多功能车的 Workhorse Group Inc. 也是美国证券交易委员会调查的目标，尼古拉公司创始人特雷弗-米尔顿（Trevor Milton）在纽约南区联邦法院被指控犯有证券欺诈罪，据称他夸大了这家电动卡车制造商的发展。弥尔顿已经声明他是无辜的。</blockquote> Since EV makers need the same hefty capital investment as other auto makers, investors might be more inclined to favor the established companies making a foray into electrification. Nearly every major auto maker around the globe has some sort of effort today to develop electric vehicles, but in the U.S., Ford Motor appears to be the furthest along, with plans to offer dozens of electrified vehicles, including a truck, sometime in 2022.<blockquote>由于电动汽车制造商需要与其他汽车制造商相同的巨额资本投资，投资者可能更倾向于青睐进军电气化领域的老牌公司。如今，全球几乎每家主要汽车制造商都在努力开发电动汽车，但在美国，福特汽车公司似乎走得最远，计划在 2022 年的某个时候提供数十款电动汽车，包括一辆卡车。</blockquote> If investors are looking to bet on one of Tesla’s upcoming rivals, the best course may be to pick one of the companies that is actually close to launching a car, like Fisker or Lucid, and then diversify bets on some traditional auto makers. Another option is to look for suppliers, instead of the much more capital-intensive car makers.<blockquote>如果投资者希望押注特斯拉即将推出的竞争对手之一，最好的办法可能是选择一家实际上接近推出汽车的公司，如 Fisker 或 Lucid，然后分散押注一些传统汽车制造商。另一种选择是寻找供应商，而不是资本密集型得多的汽车制造商。</blockquote> Assad Hussain, mobility analyst at PitchBook, which tracks all aspects of the public and private equity markets, said professional investors are looking beyond the companies making cars to those that are supplying the automakers.<blockquote>追踪公共和私募股权市场各个方面的 PitchBook 移动分析师阿萨德·侯赛因 (Assad Hussain) 表示，专业投资者的目光不仅仅是制造汽车的公司，而是向汽车制造商供货的公司。</blockquote> “A lot of the smart VC money is going into the picks and shovels, not necessarily trying to trying to find the next Tesla,” Hussain said, making an analogy with the pioneers who got rich during the California gold rush of 1849 by providing the supplies, instead of joining the hordes panning for gold in the Sierra foothills.<blockquote>侯赛因说：“很多聪明的风险投资资金都投入到了采摘和铲子上，而不一定是为了寻找下一个特斯拉，”他与 1849 年加州淘金热期间通过提供物资而致富的拓荒者打了个比方，而不是加入在塞拉山麓淘金的大军。</blockquote> One example is a company called Redwood Materials, which is working on recycling lithium ion batteries in both devices and EVs. Redwood was co-founded by JB Straubel, a Tesla co-founder and its CTO for 15 years. Redwood recently raised $700 million from a group of investors, including T. Rowe Price, Amazon.com Inc.&nbsp;and others.<blockquote>一个例子是一家名为 Redwood Materials 的公司，该公司致力于在设备和电动汽车中回收锂离子电池。Redwood 由特斯拉联合创始人兼首席技术官 JB Straubel 共同创立，任职 15 年。Redwood 最近从包括 T. Rowe Price、亚马逊公司等在内的一群投资者那里筹集了 7 亿美元。</blockquote> Recurrent, based in Seattle, was founded just last year and is offering third-party reports on used EV batteries, to help car buyers determine the life of the vehicle. It raised $3.5 million in seed funding&nbsp;late last year.<blockquote>Recurrent 总部位于西雅图，去年刚刚成立，提供有关二手电动汽车电池的第三方报告，以帮助购车者确定车辆的寿命。去年年底，它筹集了350万美元的种子资金。</blockquote> “Maybe the smart thing to do is not look for the next Tesla, but to go out and find an enabling technology,” said Hussain.<blockquote>“侯赛因说：”也许明智的做法不是寻找下一个特斯拉，而是走出去寻找一种使能技术。</blockquote> The past century shows that periods of innovation in automobiles eventually settled into a triumvirate of dominant companies.<blockquote>过去的一个世纪表明，汽车领域的创新时期最终形成了一个占主导地位的公司三巨头。</blockquote> Whether that will happen again is anyone’s guess, but the strategies here should help find the safer bets, such as the companies the farthest along, the established auto makers, or look to the most interesting suppliers of this hot arena.<blockquote>这种情况是否会再次发生谁也说不准，但这里的策略应该有助于找到更安全的赌注，比如走得最远的公司、老牌汽车制造商，或者寻找这个热门领域中最有趣的供应商。</blockquote>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf there were a ‘Big Three’ of electric vehicle makers, who would join Tesla?<blockquote>如果有 “三巨头 ”电动汽车制造商，谁会加入特斯拉？</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nMarketWatch2021-09-20 07:52\n\n</h4>\n</header>\n<article>\nDelays at young electric-vehicle companies suggest that large auto makers are best placed to challenge Tesla in the future, but the smart money is chasing less glamorous names <blockquote>年轻电动汽车公司的延误表明，大型汽车制造商最有能力在未来挑战特斯拉，但聪明的资金正在追逐不那么迷人的名字</blockquote> <img src=\"https://static.tigerbbs.com/bf4fe95f357a1ce8ef9aeefc9e1e62d0\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\">MarketWatch photo illustration/Tesla, iStockphoto<blockquote>MarketWatch 照片插图/特斯拉，iStockphoto</blockquote> When Henry Ford was reorganizing his Detroit Automobile Company into what would become the juggernaut of U.S. auto manufacturing, hundreds of other young auto makers were also starting up.<blockquote>当亨利·福特将他的底特律汽车公司重组为美国汽车制造业的巨头时，数百家其他年轻的汽车制造商也在创业。</blockquote> One of them, the National Motor Vehicle Car Manufacturing Co, started out in Indianapolis, which boasted six automakers in 1906. National Motor even competed in and won the 1912 Indy 500. Sales boomed and it expanded production, but after a merger with Associated Motor Industries in 1922, the company ended up in receivership in 1924. Like hundreds of other early car companies, none of those six Indianapolis players survived.<blockquote>其中之一，国家汽车制造公司，在印第安纳波利斯成立，1906年拥有六家汽车制造商。国家汽车公司甚至参加了 1912 年印地 500 大赛并获胜。销售蓬勃发展，产量扩大，但在 1922 年与联合汽车工业公司合并后，该公司于 1924 年陷入破产管理。与其他数百家早期汽车公司一样，这六家印第安纳波利斯公司没有一家幸存下来。</blockquote> Investors eyeing the electric vehicle space today may have a sense of déjà vu. The huge number of companies, large and small, currently working on electric vehicles or their components is reminiscent of the turn of the 20th century, when companies like National and others experimented with body forms and engine types, from steam-powered to internal combustion to early versions of electric vehicles.<blockquote>如今关注电动汽车领域的投资者可能会有似曾相识的感觉。目前有大量大大小小的公司致力于电动汽车或其零部件，这让人想起 20 世纪初，当时 National 等公司尝试了车身形式和发动机类型，从蒸汽动力到内燃机再到早期版本的电动汽车。</blockquote> By the 1929 stock market crash, there were only about 40 auto makers left, and that number eventually shrunk to where the top companies in the U.S. are referred to as the “Big Three.” Similar shakeouts occurred globally, with Big Threes emerging in other countries, like Japan and Germany.<blockquote>到 1929 年股市崩盘时，只剩下大约 40 家汽车制造商，这个数字最终缩小到美国最大的公司被称为 “三巨头 ”。类似的洗牌也发生在全球范围内，日本和德国等其他国家也出现了三巨头。</blockquote> One major difference between then and now, said Brett Smith, director of technology research at the Center for Automotive Research, or CAR, is that 100 years ago, “everybody was starting from scratch—no one had an advantage,” while today, traditional auto makers already know how to build cars and create huge assembly lines.、<blockquote>汽车研究中心（Center for Automotive Research，简称 CAR）技术研究主任布雷特-史密斯（Brett Smith）说，当时和现在的一个主要区别是，100 年前，“每个人都是白手起家--没有人有优势”，而今天，传统汽车制造商已经知道如何制造汽车和建立庞大的装配线。</blockquote> ‘Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.’” — Brett Smith, director, technology research, Center for Automotive Research <blockquote>“在接下来的5年里，其中一些公司将会有一些显著的增长。但也会有一些人无法成长和挣扎。与五年前相比，这些公司有更多值得乐观的地方，因为这项技术正在接近更广泛的采用。问题是传统汽车公司现在也开始涉足这一领域，竞争更加激烈。”--布雷特-史密斯，汽车研究中心技术研究总监</blockquote> The question for investors then is which companies will become the big 3 of EVs?<blockquote>那么投资者的问题是，哪些公司将成为电动汽车三巨头？</blockquote> The company with the biggest advantage in electric vehicles today is Tesla Inc.&nbsp;which has finally proved to the world that EVs are the future. As rival startups and legacy automakers seek to emulate its success, investors must ponder which EV companies will succeed and which will disappear.<blockquote>当今在电动汽车领域拥有最大优势的公司是特斯拉公司，该公司最终向世界证明了电动汽车是未来。随着竞争对手初创公司和传统汽车制造商寻求效仿其成功，投资者必须思考哪些电动汽车公司将取得成功，哪些公司将消失。</blockquote> Globally, there are hundreds of startups working on some aspect of electric vehicles, from creating the car, to charging station infrastructure, improving the manufacturing process, developing new battery technologies and working on fuel cells. CB Insights of New York said it is tracking more than 700 startups around the world that are active in the space.<blockquote>在全球范围内，有数百家初创公司致力于电动汽车的某些方面，从制造汽车，到充电站基础设施，改进制造工艺，开发新的电池技术和研究燃料电池。纽约CB Insights表示，它正在跟踪全球700多家活跃在该领域的初创公司。</blockquote> “There seems to be a new one every day,” said Smith of CAR.<blockquote>“汽车公司的史密斯说：”似乎每天都有新的。</blockquote> Since February, the shares of many better known startups have lost much of their value because of serious issues, including regulatory inquiries or investigations, class action lawsuits, management tumult and abrupt executive departures. Piling onto these woes — which mainly stem from overpromising and under-delivering — is a semiconductor shortage hampering efforts to get first products out the door.<blockquote>自2月份以来，许多知名初创公司的股票因严重问题而贬值，包括监管机构的询问或调查、集体诉讼、管理层的混乱和高管的突然离职。半导体短缺阻碍了首批产品问世的努力，而这些困境主要源于过度承诺和交付不足。</blockquote> Several publicly traded EV makers are still technically startup companies, with no revenue or much operational history. But because of the SPAC boom, and the de-SPAC process, they are now publicly traded companies, leaving investors making bets like venture capitalists on the next Tesla.<blockquote>几家公开交易的电动汽车制造商在技术上仍是初创公司，没有收入或太多运营历史。但由于特殊目的收购公司的热潮和去特殊目的收购公司的过程，它们现在是上市公司，让投资者像风险投资家一样押注下一个特斯拉。</blockquote> “What they are doing is very hard,” said Smith. “Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.”<blockquote>“史密斯说：”他们正在做的事情非常困难。“未来 5 年，其中一些公司将取得显著增长。但也有一些公司没有发展壮大，举步维艰。与五年前相比，这些公司有更多值得乐观的地方，因为这项技术越来越接近更广泛的采用。问题是，现在传统车企也开始涉足，竞争更加激烈。”</blockquote> As a result of some of those issues, no revenue is expected for the rest of the year at Nikola Corp.,Lordstown Motors Corp.&nbsp;and Fisker Inc., &nbsp;with all three companies predicting their first vehicles sometime in 2022, if their current forecasts can be believed.<blockquote>由于其中一些问题，Nikola Corp.、Lordstown Motors Corp. 和 Fisker Inc. 预计今年剩余时间不会有收入，这三家公司都预计将在 2022 年的某个时候推出第一批汽车，如果他们目前的预测是可信的。</blockquote> “I&nbsp;know&nbsp;it&nbsp;sounds&nbsp;like&nbsp;a&nbsp;broken&nbsp;record and it’s boring, but I think in this case, the broken record is quite good to keep on saying that we are on time on the Ocean program and we are on budget,” Fisker co-founder, Chairman and Chief Executive Henrik Fisker told analysts in the company’s earnings call last month.<blockquote>“菲斯克公司联合创始人、董事长兼首席执行官亨里克-菲斯克（Henrik Fisker）上个月在公司财报看涨期权上对分析师说：”我知道这听起来像是破纪录，也很无聊，但我认为在这种情况下，破纪录是很好的，可以继续说我们在海洋项目上按时完成，我们在预算范围内。</blockquote> Fisker said the company will start production on Nov. 17, 2022, which actually looks good compared with other startups. Morgan Stanley analyst Adam Jonas said in a note that he believes&nbsp;Fisker “may be one of the only EV startups to actually launch on time and ramp efficaciously in late 2022.”<blockquote>菲斯克表示，该公司将于2022年11月17日开始生产，与其他初创公司相比，这实际上看起来不错。摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）在一份报告中说，他认为菲斯克 “可能是仅有的几家真正按时推出并在 2022 年底有效提升的电动汽车初创公司之一”。</blockquote> These companies, plus Faraday Future Electric Inc.,Canoo Inc.,Lucid Group&nbsp;and the soon to go public Rivian, are among the top funded EV makers in the U.S. But while many have received billions from investors through private funding rounds or SPAC deals&nbsp;–&nbsp;electric truck-maker Rivian has raised $10.5 billion — some are now encountering credibility problems.<blockquote>这些公司，加上 Faraday Future Electric Inc.、Canoo Inc.、Lucid Group 和即将上市的Rivian，是美国资金最多的电动汽车制造商之一。但是，尽管许多公司通过私人融资轮或 SPAC 交易从投资者那里获得了数十亿美元——电动卡车制造商Rivian已经筹集了 105 亿美元——但一些公司现在遇到了信誉问题。</blockquote> For example, Lordstown — an electric truck-maker which took over a former GM factory in an area of Ohio referred to as Voltage Valley — disclosed in July that its merger deal was being investigated by the Securities and Exchange Commission and the Justice Department, for a variety of matters, including information provided to investors about its pre-orders. Lordstown added a “going concern” warning to regulatory filings and clarified that the orders it had were not binding.<blockquote>例如，电动卡车制造商 Lordstown 接管了俄亥俄州 Voltage Valley 地区的前通用汽车工厂，该公司在 7 月份披露，其合并交易正在接受美国证券交易委员会和司法部的调查，涉及各种问题，包括向投资者提供有关其预购订单的信息。Lordstown 在监管文件中添加了 “持续经营 ”警告，并澄清其收到的命令不具有约束力。</blockquote> “To do what Tesla did, build a car company from the ground up and all the way through to distribution, that took a phenomenal amount of money,” Smith said. Tesla is now almost 18 years old. After raising $226 million in its 2010 IPO, it has gone back to the capital markets frequently, raising more than $20 billion through secondary stock sales and debt offerings.<blockquote>“史密斯说：”要做特斯拉所做的事情，从头开始建立一家汽车公司，一直到分销，这需要大量的资金。特斯拉现在快18岁了。在2010年IPO融资2.26亿美元后，该公司频繁重返资本市场，通过二次股票销售和债券发行融资超过200亿美元。</blockquote> Workhorse Group Inc.,which makes electric “last mile” delivery vans and utility vehicles, also was reported to be the target of an SEC investigation, and Trevor Milton, the founder of Nikola Corp.&nbsp;has been charged with securities fraud in federal court in the Southern District of New York, allegedly for overinflating the developments at the electric truck maker. Milton has stated that he is innocent.<blockquote>据报道，生产电动 “最后一英里 ”送货车和多功能车的 Workhorse Group Inc. 也是美国证券交易委员会调查的目标，尼古拉公司创始人特雷弗-米尔顿（Trevor Milton）在纽约南区联邦法院被指控犯有证券欺诈罪，据称他夸大了这家电动卡车制造商的发展。弥尔顿已经声明他是无辜的。</blockquote> Since EV makers need the same hefty capital investment as other auto makers, investors might be more inclined to favor the established companies making a foray into electrification. Nearly every major auto maker around the globe has some sort of effort today to develop electric vehicles, but in the U.S., Ford Motor appears to be the furthest along, with plans to offer dozens of electrified vehicles, including a truck, sometime in 2022.<blockquote>由于电动汽车制造商需要与其他汽车制造商相同的巨额资本投资，投资者可能更倾向于青睐进军电气化领域的老牌公司。如今，全球几乎每家主要汽车制造商都在努力开发电动汽车，但在美国，福特汽车公司似乎走得最远，计划在 2022 年的某个时候提供数十款电动汽车，包括一辆卡车。</blockquote> If investors are looking to bet on one of Tesla’s upcoming rivals, the best course may be to pick one of the companies that is actually close to launching a car, like Fisker or Lucid, and then diversify bets on some traditional auto makers. Another option is to look for suppliers, instead of the much more capital-intensive car makers.<blockquote>如果投资者希望押注特斯拉即将推出的竞争对手之一，最好的办法可能是选择一家实际上接近推出汽车的公司，如 Fisker 或 Lucid，然后分散押注一些传统汽车制造商。另一种选择是寻找供应商，而不是资本密集型得多的汽车制造商。</blockquote> Assad Hussain, mobility analyst at PitchBook, which tracks all aspects of the public and private equity markets, said professional investors are looking beyond the companies making cars to those that are supplying the automakers.<blockquote>追踪公共和私募股权市场各个方面的 PitchBook 移动分析师阿萨德·侯赛因 (Assad Hussain) 表示，专业投资者的目光不仅仅是制造汽车的公司，而是向汽车制造商供货的公司。</blockquote> “A lot of the smart VC money is going into the picks and shovels, not necessarily trying to trying to find the next Tesla,” Hussain said, making an analogy with the pioneers who got rich during the California gold rush of 1849 by providing the supplies, instead of joining the hordes panning for gold in the Sierra foothills.<blockquote>侯赛因说：“很多聪明的风险投资资金都投入到了采摘和铲子上，而不一定是为了寻找下一个特斯拉，”他与 1849 年加州淘金热期间通过提供物资而致富的拓荒者打了个比方，而不是加入在塞拉山麓淘金的大军。</blockquote> One example is a company called Redwood Materials, which is working on recycling lithium ion batteries in both devices and EVs. Redwood was co-founded by JB Straubel, a Tesla co-founder and its CTO for 15 years. Redwood recently raised $700 million from a group of investors, including T. Rowe Price, Amazon.com Inc.&nbsp;and others.<blockquote>一个例子是一家名为 Redwood Materials 的公司，该公司致力于在设备和电动汽车中回收锂离子电池。Redwood 由特斯拉联合创始人兼首席技术官 JB Straubel 共同创立，任职 15 年。Redwood 最近从包括 T. Rowe Price、亚马逊公司等在内的一群投资者那里筹集了 7 亿美元。</blockquote> Recurrent, based in Seattle, was founded just last year and is offering third-party reports on used EV batteries, to help car buyers determine the life of the vehicle. It raised $3.5 million in seed funding&nbsp;late last year.<blockquote>Recurrent 总部位于西雅图，去年刚刚成立，提供有关二手电动汽车电池的第三方报告，以帮助购车者确定车辆的寿命。去年年底，它筹集了350万美元的种子资金。</blockquote> “Maybe the smart thing to do is not look for the next Tesla, but to go out and find an enabling technology,” said Hussain.<blockquote>“侯赛因说：”也许明智的做法不是寻找下一个特斯拉，而是走出去寻找一种使能技术。</blockquote> The past century shows that periods of innovation in automobiles eventually settled into a triumvirate of dominant companies.<blockquote>过去的一个世纪表明，汽车领域的创新时期最终形成了一个占主导地位的公司三巨头。</blockquote> Whether that will happen again is anyone’s guess, but the strategies here should help find the safer bets, such as the companies the farthest along, the established auto makers, or look to the most interesting suppliers of this hot arena.<blockquote>这种情况是否会再次发生谁也说不准，但这里的策略应该有助于找到更安全的赌注，比如走得最远的公司、老牌汽车制造商，或者寻找这个热门领域中最有趣的供应商。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.marketwatch.com/story/if-there-were-a-big-three-of-electric-vehicle-makers-who-would-join-tesla-11631902468?mod=home-page\">MarketWatch</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","TSLA":"特斯拉","FSR":"菲斯克","NIO":"蔚来","LI":"理想汽车","XPEV":"小鹏集团","AMZN":"亚马逊","LCID":"Lucid Group Inc"},"source_url":"https://www.marketwatch.com/story/if-there-were-a-big-three-of-electric-vehicle-makers-who-would-join-tesla-11631902468?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165266849","content_text":"Delays at young electric-vehicle companies suggest that large auto makers are best placed to challenge Tesla in the future, but the smart money is chasing less glamorous names \nMarketWatch photo illustration/Tesla, iStockphoto\n\n\nWhen Henry Ford was reorganizing his Detroit Automobile Company into what would become the juggernaut of U.S. auto manufacturing, hundreds of other young auto makers were also starting up.\nOne of them, the National Motor Vehicle Car Manufacturing Co, started out in Indianapolis, which boasted six automakers in 1906. National Motor even competed in and won the 1912 Indy 500. Sales boomed and it expanded production, but after a merger with Associated Motor Industries in 1922, the company ended up in receivership in 1924. Like hundreds of other early car companies, none of those six Indianapolis players survived.\nInvestors eyeing the electric vehicle space today may have a sense of déjà vu. The huge number of companies, large and small, currently working on electric vehicles or their components is reminiscent of the turn of the 20th century, when companies like National and others experimented with body forms and engine types, from steam-powered to internal combustion to early versions of electric vehicles.\nBy the 1929 stock market crash, there were only about 40 auto makers left, and that number eventually shrunk to where the top companies in the U.S. are referred to as the “Big Three.” Similar shakeouts occurred globally, with Big Threes emerging in other countries, like Japan and Germany.\nOne major difference between then and now, said Brett Smith, director of technology research at the Center for Automotive Research, or CAR, is that 100 years ago, “everybody was starting from scratch—no one had an advantage,” while today, traditional auto makers already know how to build cars and create huge assembly lines.、\n\n\n ‘Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.’”\n\n\n — Brett Smith, director, technology research, Center for Automotive Research \n\n\nThe question for investors then is which companies will become the big 3 of EVs?\nThe company with the biggest advantage in electric vehicles today is Tesla Inc. which has finally proved to the world that EVs are the future. As rival startups and legacy automakers seek to emulate its success, investors must ponder which EV companies will succeed and which will disappear.\n\nGlobally, there are hundreds of startups working on some aspect of electric vehicles, from creating the car, to charging station infrastructure, improving the manufacturing process, developing new battery technologies and working on fuel cells. CB Insights of New York said it is tracking more than 700 startups around the world that are active in the space.\n“There seems to be a new one every day,” said Smith of CAR.\nSince February, the shares of many better known startups have lost much of their value because of serious issues, including regulatory inquiries or investigations, class action lawsuits, management tumult and abrupt executive departures. Piling onto these woes — which mainly stem from overpromising and under-delivering — is a semiconductor shortage hampering efforts to get first products out the door.\nSeveral publicly traded EV makers are still technically startup companies, with no revenue or much operational history. But because of the SPAC boom, and the de-SPAC process, they are now publicly traded companies, leaving investors making bets like venture capitalists on the next Tesla.\n\n\n\n“What they are doing is very hard,” said Smith. “Over the next 5 years, there is going to be some remarkable growth for some of these companies. But there will be some that don’t grow and struggle. There is more to be optimistic about with these companies than there was five years ago, because the tech is getting closer to broader adoption. The problem is that the traditional car companies have been getting into it too now and competition is tougher.”\nAs a result of some of those issues, no revenue is expected for the rest of the year at Nikola Corp.,Lordstown Motors Corp. and Fisker Inc.,  with all three companies predicting their first vehicles sometime in 2022, if their current forecasts can be believed.\n\n“I know it sounds like a broken record and it’s boring, but I think in this case, the broken record is quite good to keep on saying that we are on time on the Ocean program and we are on budget,” Fisker co-founder, Chairman and Chief Executive Henrik Fisker told analysts in the company’s earnings call last month.\nFisker said the company will start production on Nov. 17, 2022, which actually looks good compared with other startups. Morgan Stanley analyst Adam Jonas said in a note that he believes Fisker “may be one of the only EV startups to actually launch on time and ramp efficaciously in late 2022.”\n\nThese companies, plus Faraday Future Electric Inc.,Canoo Inc.,Lucid Group and the soon to go public Rivian, are among the top funded EV makers in the U.S. But while many have received billions from investors through private funding rounds or SPAC deals – electric truck-maker Rivian has raised $10.5 billion — some are now encountering credibility problems.\n\nFor example, Lordstown — an electric truck-maker which took over a former GM factory in an area of Ohio referred to as Voltage Valley — disclosed in July that its merger deal was being investigated by the Securities and Exchange Commission and the Justice Department, for a variety of matters, including information provided to investors about its pre-orders. Lordstown added a “going concern” warning to regulatory filings and clarified that the orders it had were not binding.\n\n“To do what Tesla did, build a car company from the ground up and all the way through to distribution, that took a phenomenal amount of money,” Smith said. Tesla is now almost 18 years old. After raising $226 million in its 2010 IPO, it has gone back to the capital markets frequently, raising more than $20 billion through secondary stock sales and debt offerings.\nWorkhorse Group Inc.,which makes electric “last mile” delivery vans and utility vehicles, also was reported to be the target of an SEC investigation, and Trevor Milton, the founder of Nikola Corp. has been charged with securities fraud in federal court in the Southern District of New York, allegedly for overinflating the developments at the electric truck maker. Milton has stated that he is innocent.\n\nSince EV makers need the same hefty capital investment as other auto makers, investors might be more inclined to favor the established companies making a foray into electrification. Nearly every major auto maker around the globe has some sort of effort today to develop electric vehicles, but in the U.S., Ford Motor appears to be the furthest along, with plans to offer dozens of electrified vehicles, including a truck, sometime in 2022.\n\nIf investors are looking to bet on one of Tesla’s upcoming rivals, the best course may be to pick one of the companies that is actually close to launching a car, like Fisker or Lucid, and then diversify bets on some traditional auto makers. Another option is to look for suppliers, instead of the much more capital-intensive car makers.\nAssad Hussain, mobility analyst at PitchBook, which tracks all aspects of the public and private equity markets, said professional investors are looking beyond the companies making cars to those that are supplying the automakers.\n“A lot of the smart VC money is going into the picks and shovels, not necessarily trying to trying to find the next Tesla,” Hussain said, making an analogy with the pioneers who got rich during the California gold rush of 1849 by providing the supplies, instead of joining the hordes panning for gold in the Sierra foothills.\nOne example is a company called Redwood Materials, which is working on recycling lithium ion batteries in both devices and EVs. Redwood was co-founded by JB Straubel, a Tesla co-founder and its CTO for 15 years. Redwood recently raised $700 million from a group of investors, including T. Rowe Price, Amazon.com Inc. and others.\n\nRecurrent, based in Seattle, was founded just last year and is offering third-party reports on used EV batteries, to help car buyers determine the life of the vehicle. It raised $3.5 million in seed funding late last year.\n\n“Maybe the smart thing to do is not look for the next Tesla, but to go out and find an enabling technology,” said Hussain.\nThe past century shows that periods of innovation in automobiles eventually settled into a triumvirate of dominant companies.\nWhether that will happen again is anyone’s guess, but the strategies here should help find the safer bets, such as the companies the farthest along, the established auto makers, or look to the most interesting suppliers of this hot arena.","news_type":1,"symbols_score_info":{"NIO":0.9,"AMZN":0.9,"LI":0.9,"TSLA":0.9,"RIDE":0.9,"XPEV":0.9,"GOEV":0.9,"NKLA":0.9,"LCID":0.9,"FFIE":0.9,"FSR":0.9,"WKHS":0.9}},"isVote":1,"tweetType":1,"viewCount":2194,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/860093919"}