Production Delay

[Inez]

I understand everyone's frustration, however, I wish that any one of the companies that I sell products from would have had the customer service understanding to produce such a video.

 

[Sam]

Production update vid

I say well-played Ineos

- an up-front, short, no BS update/ apology
- a stab at a duration for the delay
- nominating a near-future date for customer car builds to commence
- a stated intention to improve frequency of customer comms in the coming period

doesn't mean it'll all happen, but the world is topsy-turvy so you can't say fairer than that

 

[DCPU]

And (I don't know when it was filmed) it's RED tow hooks

It's the same footage used when he was interviewed in July so pre-dates the current batch of PTO2s with plain recovery points.

Not forgetting in July he said this:

EDIT:
Actually, looking at the footage again, it seems even older, this vehicle is labelled as a a PT2C:

 

[grenadierboy]

Good point DCPU - that same white version from 4 months ago.

Wonder why Mr Tennant didn't do the 8 October announcement in front of the current production line - and then explained what cars are actually "rolling down" the line.

Anyway - giving him the benefit of the doubt - I assume that in early July, the volume of certain parts previously ordered to support customer production were still on track for delivery but, were then subsequently delayed, probably several times, throughout August and September.

They clearly felt the pressure mounting from deposit holders as the days clicked by and had to announce a further delay.

What I can't reconcile is him saying customer production will commence in October; e.g. sometime in the next 20 days but - it seems no contracts have been sent to those first customers - I wonder why?

 

[MileHigh]

So at what point do these delays imperil the viability of the company? Lots of great engineered cars died for business reasons. December is a long ways off or very soon, depending on your viewpoint. And then at a rate of....

At what point do they have to pull the plug? Not trying to be negative, but there are financial realities of some sort.

 

[DaveB]

So at what point do these delays imperil the viability of the company? Lots of great engineered cars died for business reasons. December is a long ways off or very soon, depending on your viewpoint. And then at a rate of....

At what point do they have to pull the plug? Not trying to be negative, but there are financial realities of some sort.

There is no way they would have projected to make a profit in the first 5 years and possibly even the first 10.

 

[DCPU]

Jim Ratcliffe got his fingers burnt and nearly lost the whole business empire when financial covenants given to secure highly leveraged businesses were in danger of being breached and predatory investors tried to steal the business from him.

He says he's learnt much from that. All the money being lent to Ineos Automotive is in the form of inter-company loans. So the only person that can pressure the business is effectively Sir Jim himself.

Yes it's burning cash with staff etc but that's just the UK company with only 120 plus staff with an annual payroll of @€12m. Relatively small change in the scheme of things.

The Hambach site is a separate French company, employs more but also earns revenue (and who knows is currently turning a profit*) on their activities for Merc/Geely. This contract runs through 2024.

I would surmise that this contract and French labour law would make it harder (financially) to shutdown and walkaway in any event.

EDIT:

* €28.4m profit on revenue of €70.1m.

 

[ECrider]

Companies fail because funding is pulled/runs out, while there's dosh there's life. Think Sir JR will probably lengthen his arms and shorten his pockets before winding up IA as a failure. I'm confident IA will see out these delays and we will see customers take delivery. How the company looks in 10 years, welll....

 

[Krabby]

Saw this too. FFS.

 

[Tazzieman]

I had to google that as it made no sense to me. In Australia.

 

[DaveB]

We are really suffering from the chip supply problem.
This is the latest news on price rises for chips due to supply issues caused by 12 months of flooding

 

[Tazzieman]

We are really suffering from the chip supply problem.
This is the latest news on price rises for chips due to supply issues caused by 12 months of flooding
View attachment 7798107

I foresaw that and planted 5 different varieties this year. About to harvest the 2nd batch , nom nom!

 

[grenadierboy]

We are really suffering from the chip supply problem.
This is the latest news on price rises for chips due to supply issues caused by 12 months of flooding
View attachment 7798107

There can't be a shortage - I've sworn off them the past 6 months!

 

[Krabby]

The paper car titles are printed on is snazzy to prevent counterfeiting.

 

[DaveB]

I foresaw that and planted 5 different varieties this year. About to harvest the 2nd batch , nom nom!

We are planning on lots of raised garden beds when we move to our new home so we can grow vegies and herbs to be a bit more self sufficient and cost effective.
There is also often the situation where roads are flooded and access to supplies are cut off.

 

[Jean Mercier]

You should buy your Grenadier in Belgium, no problems here

 

[Tazzieman]

We are planning on lots of raised garden beds when we move to our new home so we can grow vegies and herbs to be a bit more self sufficient and cost effective.
There is also often the situation where roads are flooded and access to supplies are cut off.

PREPPER!!!!

 

[Tazzieman]

You should buy your Grenadier in Belgium, no problems here
View attachment 7798113

That would be the fieldmaster edition?

 

[emax]

We are really suffering from the chip supply problem.
This is the latest news on price rises for chips due to supply issues caused by 12 months of flooding
View attachment 7798107

Not in Belgium.

(Jean was faster...)

 

[TD5-90]

PREPPER!!!!

Any complaints?

;-)