The Aussie stocks ready to benefit from electric vehicles
While many investors may be priced out of investing in stocks like Tesla, there are other ways to play the EV story.
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The first name that comes to most people’s minds when they think of electric vehicle stocks is Tesla. The US mega-cap has become synonymous with the movement to electrify the automobile space but its surging share price has made it a difficult investment proposition.
Despite producing just more than 500,000 cars in 2020, Tesla’s market capitalisation of $US673.8 billion ($886 billion) values it at almost three times that of Toyota, which produced 9.2 million vehicles in 2020.
It's not just about value or growth for Holon's Behncke afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Startup Funding: March 2021
Self-driving vehicles revved up investors in March, with two companies receiving over $200M apiece as they prepare for their systems to enter mass production. One focuses on software for passenger vehicles, while the other is looking to autonomous trucks. Both of the companies received investment from automakers, with China’s largest carmaker SAIC joining each of the funding rounds. It was also a good month for startups making chips for AI acceleration, with four companies from seed to Series D stages raising funds. Plus, two companies are looking to shake up the memory and storage space with some unique solutions. This month, we take a look at 24 startups that collectively raised over $1.3B.
The Station: Breaking down TuSimple's S-1 – TechCrunch techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.
DesignCrowd founder and chief Alec Lynch. Source: supplied.
Sydney startup DesignCrowd has raised $10 million in funding as it ramps up investment in its BrandCrowd DIY design offering for small businesses, and takes on Aussie behemoth Canva.
The funding round includes investment from Perennial Value Management, Alium Capital, Ellerston Capital, Regal Funds Management and CVC.
Founded back in 2007, DesignCrowd is a marketplace platform connecting small businesses with freelance designers who can whip up logos, T-shirts, flyers or websites.
Over the past couple of years, the business has been focusing time and investment on its BrandCrowd product, which allows business owners to design their own assets.