- The company is merging with electric commercial vehicles maker Cenntro Automotive Group through a reverse takeover.
- Cenntro Automotive Group is projecting revenues of $2.1 billion by 2023, but I doubt this figure is likely to be achieved.
- In 2020, 707 units were sold, with the majority of them in the form of vehicle kits. North American distributor Ayro booked revenues of just $0.5 million in Q2 2021.
- The new models are cheap and have low max speed and range.
For further details see:
Naked Brand Group Moves From Lingerie To EVs But It Looks Overvalued Based On Fundamentals