No good being a miner if nobody wants your product. I've been watching AUZ for sometime, the amount of exuberance shown by some investors borders on absurdity.
Many people are finding that EV's aren't all they're cracked up to be. Many are sucked in by the subsidies and by the thought of savings. Its not going according to plan. The EV market in China is collapsing, and its about time that AUZ investors on HC start reading the Chinese newspapers to get the full picture.
I see that vintage is translating Chinese newspapers, he seems to be the only one on AUZ thread who has any brains.
So many Chinese EV manufacturers are filing for bankruptcy, you won't read about it in the Australian media.
"For the company's loss reasons, Wulong electric vehicles said that due to the sharp decline in sales of electric vehicles, and the lack of cash flow, the company's overseas electric vehicle orders failed to deliver, and lithium battery cathode material sales and processing services decreased significantly."
https://www.gg-lb.com/art-39010.html
"Low-end battery manufacturers declared bankruptcy without government subsidies"
"This year, the entire power battery industry chain has ushered in a dark moment, the 'black swan' is flying everywhere." On November 15, the National Science and Technology Achievements Transformation Fund, the new energy vehicle venture capital fund partner and president Fang Jianhua in the fourth The speech of the International Summit on Power Battery Application pointed out that the occurrence of this "black swan" incident".
"November 20, 2019 Reuters (Epoch Times reporter Zhang Yujie roundup) Chinese
new energy vehicle industry are frequent chaos, following the sharp decline in sales, recently exposed cases of bribery,
bribery bribery partners are China 15 Major automakers and former officials of the Shanghai New Energy Vehicle Data Center. The analysis believes that the chaos in China's new energy vehicle industry is related to the bleak development of the CCP's "Great Leap Forward".
"
The debt is nearly 20 billion! The former lithium battery giant bankruptcy liquidation, the parent company's market value plummeted 85%
2019-11-14 16:41 Source: China Daily Fund Author: buckwheat
The former lithium giant Walterma entered the bankruptcy liquidation.
(20min delay)