Duesenberg Technologies Inc. (OTCQB: DUSYF) (the “Company” or “Duesenberg”), an OTCQB-listed issuer, announcing a preview of the upcoming Duesenberg Grand Tourer ‘JL01’, currently under development.
In 2022 the company plans to debut the new Duesenberg Grand Tourer, the Company’s initial vision for the 21st Century rebirth of the Iconic Duesenberg Brand. Duesenberg 100 years ago blazed a lasting trail to create the most exciting, dynamic technologically advanced and reliable vehicles of their times, times where the automotive mobility was in its infancy. Duesenberg was the post WWI era vehicle of choice for the famous to infamous from Gary Cooper, Mae West, Clark Gable and the Duke of Windsor to Al Capone.
The Company plans to honor the Duesenberg brand’s heritage through exciting designs. These designs focused on meeting modern consumer expectations and technological imperatives. One such imperative is Sustainability, sustainability that you can touch, see, feel in fall in love with. Flamboyant, sensual, at the same time the JL01, is sculpted with an elegant, timeless execution that perfectly balances athleticism with confidence. The Company’s primary goal is to deliver the world’s most luxurious true zero-emission vehicle, equipped with the world’s finest automotive cabin. The Company believes this is the epitome of modern exclusive design and plans to provide an unprecedented level of personalization.
“In the simplest of terms, the Duesenberg SSJ was the best automobile in the world.”Safet Satara
Recently, actor Gary Cooper’s 1935 Duesenberg SSJ sold for a jaw-dropping $22 million record at an auction in Pebble Beach – far more than the previous record-holder, the very first Shelby Cobra ever made, which sold for $13.75 million in 2016. Other iconic classics sold for a fraction of the Duesenberg’s price, such as the 1955 Maserati A6GCS/53 Spider (only $5.17 million) and the 1955 Porsche 550 Spyder ($4.455 million). Experts say this shows the premium value that is placed on the Duesenberg brand among luxury car buyers. As Top Speed car writer Safet Satara puts it, “In the simplest of terms, the Duesenberg SSJ was the best automobile in the world…. the most luxurious and the best-built thing rolling the streets of Hollywood and the world.” He adds that “If you were to ask me what car company I’d like to see resurrected, it would be the Duesenberg.”
EV Stocks on Fire in 2021
For investors, the attraction of luxury EV manufacturers such as Duesenberg Technologies (DUSYF) is the 27% profit margin projected for the ultra-high-end market – and the exploding electric car market generally. According to a recent report published by Allied Market Research, the global electric vehicle industry is expected to skyrocket from $162 billion in 2019 to $802 billion by 2027, an increase of 395 percent in just eight years and a compounded growth rate of 22.6 percent annually. Governments worldwide are setting new zero-emission mandates that will require only EV- or hydrogen-powered vehicles to be sold in just 10 to 15 years. And a report from Bloomberg estimates that electric vehicles will be 10 percent of all vehicles sold by 2025 (about 8 million units) and this will grow to 28 percent by 2030 (26 million units). That may be the reason why many small, publicly-traded EV manufacturers have seen the value of their shares rise sharply in recent months.
· Lordstown Motors Corp (RIDE), which makes an EV pickup, has seen its shares double in value in 2020 – from $12 a share in August to $27 a share in December 2020. That’s a 125 percent return in less than a year.
· Nikola Corp. (NKLA), which manufactures EV long-haul trucks, started the year at around $10.70 a share and now trades for around $30 – an increase of 180 percent in a year.
· Workhorse Group (WKHS), another electric truck manufacturer, saw its shares rise from $1.57 per share in March 2020 to around $28 a share by December – a gain of 1,683 percent in
less than a year.
· Li Auto (LI), a Chinese EV company trading on U.S. exchanges, saw its ADR shares jump from $14.60 last August to $40 in December – a gain of 173 percent in just four months.
· And Nio (NIO), another Chinese EV manufacturer, has done even better. Its shares have risen from $3.27 in May 2020 to $52 at the end of the year – a gain of 1,490 percent in six months.
Current plans call for Duesenberg Technologies (DUSYF) to “pre-sell” its first 100 vehicles, all customized, to high-net-worth individuals, allowing the company to reach profitability within just three years. Selling 100 to 1,000 units annually of the customized Le Grand Torpedo, Duesenberg Technologies (DUSYF) could see its revenue grow quickly from $50 to $500 million. The company itself projects initial EBITA profits of $100 million within the first five years. For a small startup with a market cap of only $60 million, these are exciting projections. Duesenberg Technologies (DUSYF) is currently selling for less than $ 1 per share. Yet if its attempt to revive the Duesenberg brand catches on with luxury car buyers, that could change overnight.