Post on Medial
Jayant Mundhra
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Dexter Capital Advisors • 3m
#Deepdive: So, what happened to Gensol Group’s electric car? 📛📛 BluSmart’s founder Anmol Jaggi had announced long ago that his listed company Gensol will get into the manufacturing of EVs which would then be deployed by BluSmart. The plan was to launch a 3W and a car. And about this particular car, Jaggi had repeatedly made some bold claims. Somehow, all of those have gone for a toss. And yet, despite this being a listed company, no one’s asking what happened. .. What happened? In December 2023, Jaggi had teased a dimly lit picture of the electric car built by Gensol. And doing that, he announced in public, that the said car would be launched by March 2024, which is, in just 3 months. He went on to add that the card is being built at a state-of-the-art EV manufacturing plant set up in Pune’s automotive manufacturing hub of Chakan. All founders, VCs and fans hailed this. .. But, the car never came 📛📛 And what has come out from the founder now is simply not adding up. .. What has he said? The car is still in the design stage, and the company is prioritising building an electric 3W. Only after the 3W is launched will the company begin work on building a factory for the car project to move ahead. And when will the 3W be launched? Expected by December as per the founder’s statement. But no one really knows. .. Now comes the key question 📛📛 In December, when he announced a launch in 3 months, did the founder not know that: 1> His car is just at a design stage (as per his own statement to LiveMint’s Sumant Banerji)? 2> He also needs to build a factory to make the car and launch the same. 3> That his Pune factory is not meant for cars? .. And despite the promoter of a listed company blatantly going about making random wild claims which directly impact the stock price, nobody is asking questions. Some amazing PR and support I guess. After all, I am putting out these questions on a public forum. How difficult can it be for the media and the analysts who recommend buy calls on the stock? 📛📛
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