The hottest week this year so far was also the hottest one on the #car front. Literally.
Singapore based startup Carro cashed $360 mio from Softbank, making it an instant unicorn. Note that they do 10,000 vehicles according to their own numbers, which is not much. They eye an IPO within next 18 to 24 months.
I think they will be too late by then.
Closer to us however is AramisAuto, which is a Stellantis company since 2016 (70%). Their introduction on Euronext Paris yesterday went smooth but not stellar. [ticker:ARAMI]
This adds another (12th) data point and peer company to a list I am in the process of compiling for a comparative analysis of this sector. More about it in one of next editions.
Happy reading and enjoy the swimming pool