They made it clear that for now they would not pursue HPEMM. But I expect that the capital cost is higher than HPMSM. One step at a time. But I would expect that car makers & battery makers will want a one-stop-shop ultimately and that is where we are ultimately heading. Better to pay for that plant from operating revenue than diluting shareholders. Alternatively - get funding from a car maker .... like Hyundai or a battery maker like LG to guarantee offtakes. Those 2 are building a battery factory in Indonesia (how convenient).
Ann: Change of Address, page-22
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