However, ASIC alleges that by at latest 25 January 2023, Magnis...

However, ASIC alleges that by at latest 25 January 2023, Magnis and Mr Poullas were aware that these claims and predictions were inaccurate, and the plant at that time was struggling to produce 300 battery cells per day using primarily manual, high cost and slow production processes.

ASIC further alleges that by 23 April 2023, Magnis and Mr Poullas were aware that the battery plant could not manufacture saleable, defect-free battery cells at scale or generate any more than nominal revenue from the sale of cells manufactured at the plant.