Tesla Inc (TSLA)

[Joz]

Biggest EV ipo since Tesla coming up soon.

Smith Electric Vehicles is now a US company having bought out its long-established UK parent. In the UK, Smith has been building electric vehicles since 1920. The company is going for a Nasdaq listing this year (date eagerly awaited by me), in what will be the biggest electric vehicles ipo since Tesla.

They are now building over 40 electric trucks a week at their Kansas City plant, and plan to replicate that facility across 20 states, with a projected output of 100,000 electric trucks within 4 years. The next site (probably in California) is being named within weeks. Range anxiety is not an issue with depot-based delivery fleets, and that's the market that Smith are appealing to. Coca-Cola, Staples, Frito-Lay, Pacific Electric and other big names have already bought hundreds of them.

Tesla has done such a good job in alerting investors to how well electric vehicles can perform. For anyone wanting to take an additional stake in the same EV field, Smith looks worth considering in my opinion. I hold a small stake in Tesla and look forward to buying into Smith when it becomes available. In the meantime I hold a stake in Tanfield Group, a UK company listed on the London market (LSE:TAN) who currently own a third of Smith, and whose share price is rising in anticipation of Smith's US ipo.