Ann: Significant progress to date at New York Gigafactory, page-33

The future is unknown.

When Magnis initially started with 33% ownership in NY, we would have thought it would only go down as investors come on board etc.

Through good management ownership went to 41%, whilst also securing initial production equipment and inventory. Quite remarkable!

Now, Magnis’ direct ownership has increased to 43% (and i checked with the company, it is direct). Another great surprise!!

Of course there is also the intelligent strategic position taken in C4V which, increases our total interest in the factory to over 47%!!!

While most of us would naturally have expected Magnis to own much less than the starting 33%, here we are with a very opposite and positive result.

History is showing that if we end up with ownership other than what it currently is, it may actually be more.

Outstanding management imho