HA Sustainable Infrastructure Capital, Inc. · NYSE:HASI
HA Sustainable Infrastructure Capital — Cenntro Automotive Group — Merger or Acquisition (November 2021)
21 slides from HA Sustainable Infrastructure Capital's merger presentation, November 2021
Slide 1: Investor Presentation November 2021
INVESTOR PRESENTATION NOVEMBER 2021
Slide 2: Disclaimer
Disclaimer Basis of Presentation This Presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Cenntro Automotive Corporation, Cenntro Elec
Slide 3: Disclaimer Continued
Disclaimer Continued offerings; competition; the uncertain effects of the COVID-19 pandemic; and those factors discussed in documents of NAKD filed, or to be filed, with the U.S. Securities and Exchange Commission (the “SEC”). If any of these risks materialize or our assumptions prove incorrect, act
Slide 4: Disclaimer Continued
Disclaimer Continued Important Information for Investors and Stockholders; Participants in the Solicitation In connection with the Acquisition, NBG will file with the SEC a report of foreign private issuer on Form 6-K that includes the notice of meeting and explanatory memorandum to be used in conne
Slide 5: Today's Presenters
Today’s Presenters JUSTIN DAVIS-RICE PETER WANG MARIANNE McINERNY CEO & Chairman Founder & CEO Chief Marketing Officer Bio: Bio: Bio: o Previous CEO and Chairman of o Previous MTS of Bell o Previous Assistant Bendon Limited, which he Laboratory, AT&T Architecture Secretary for Public merged with Nak
Slide 6: Why Cenntro Automotive Group?
Why Cenntro Automotive Group? o Management and your board have been seeking an emerging growth company that would deliver compelling value to shareholders. o We informed the market at our August AGM that we believed we had found such a company, and today are excited to introduce Cenntro Automotive G
Slide 7: Transaction Highlights
Transaction Highlights o A definitive agreement for the transaction was announced today. Under the agreement, Naked Brand Group will issue CAG a number of shares such that CAG’s equity holders will own approximately 70% of Naked Brand Group’s fully diluted outstanding shares after the transaction. o
Slide 8: Cenntro Automotive Group
Cenntro Automotive Group o Cenntro is a technology pioneer in Artificial Intelligent (AI) Autonomous Driving and Commercial Electric Vehicle production, and a leading designer and manufacturer of electric light and medium-duty commercial vehicles (“ECV”). o Cenntro’s purpose-built ECVs are designed
Slide 9: Early to Market – a Commercial Electronic Vehicle Leader
Early to Market – a Commercial Electronic Vehicle Leader o Cenntro was an early entrant in commercial EV, investing significantly since 2013. o Cenntro has produced and delivered over 3,300 commercial electric vehicles, more than any other company. o Cenntro has a strong technology backbone, having
Slide 10: Competitive Advantages
Competitive Advantages o Production is through a “capital-lite" operating model allowing it to add and scale facilities without the traditional capital intensive investments in plant and infrastructure its peers face. o Cenntro’s established tier one supply-chain provides a reliable volume source of
Slide 11: Significant Revenue and Sales Growth Anticipated
Significant Revenue and Sales Growth Anticipated 74,880 $2,116 629% CAGR 21,522 $506 707 1,563 $25 $5.5 2020 Actual 2021F 2022F 2023F Sales Volume (units) Revenue ($ in millions) 11
Slide 12: Current and Future Production Capacity
Current and Future Production Capacity o Assembly Partners (6 Current facilities) o China (Current) Assembly Capacity o Jacksonville, U.S.A. (Q1/2022) 100 o Dusseldorf, Germany (Q1/2022) 92.4 90 o Japan (Q4/2022) 80 o Seattle, U.S.A. (Q2/2023) 70 60 50 In ‘000 thousands 40 30 20 10 0 2021 2022 2023
Slide 13: Commercial Electric Vehicles - Explosive Market Opportunity
Commercial Electric Vehicles - Explosive Market Opportunity o Cenntro’s Advanced System On Chip (SOC) technology and AI differentiates it from competitors with its iPhone-like functions that enable autonomous driving applications. o Commercial electric vehicle demand is expected to increase 15-fold
Slide 14: Attractive Entry Valuation Relative to Comps
Attractive Entry Valuation Relative to Comps o Cenntro is the only company that sold a commercial quantity of vehicles and generated meaningful revenue in 2020. o Arrival has a $10 Billion valuation and has indicated it will deliver no vehicles this year and will only begin testing vehicles on the r
Slide 15: Attractive Entry Valuation Relative to Comps (EV/Revenue)
Attractive Entry Valuation Relative to Comps (EV/Revenue) 2023F EV/Revenue 6.00x 5.61x 5.00x 4.00x 3.00x 2.05x 1.98x 2.00x 1.57x Median: 1.78x 1.00x 0.80x 0.46x 0.00x Equity Value (‘EV’): Source: FactSet 15
Slide 16: Established End User Customer Base and Partner Network
Established End User Customer Base and Partner Network o Cenntro has an extensive established channel and strategic partner network across the United States, Europe and Southeast Asia. o The growth of Cenntro’s company-operated in-market assembly facilities through the capital accessed via this tran
Slide 17: Strong Existing Vehicle Pipeline with Anticipated Launch Dates
Strong Existing Vehicle Pipeline with Anticipated Launch Dates METRO LOGISTAR 400 NEIBOR 200 LOGISTAR 200 TERRAMACK o Urban Delivery vehicle o Last mile delivery vehicle o Neighbourhood Delivery o Last mile delivery in Europe o Utility Vehicle o Urban services o Service truck o Instant/on-demand del
Slide 18: Leading Evolution to Artificial Intelligence & Commercial Autonomous Driving
Leading Evolution to Artificial Intelligence & Commercial Autonomous Driving o Cenntro is at the forefront of Commercial Vehicle Artificial Intelligent and Autonomous Driving. o Cenntro’s Advanced System On Chip (SOC) technology embeds all of the Driving Control and computing software, hardware and
Slide 19: Future Growth Driver - Cenntro iChassis platform for Autonomous Driving Applications
Future Growth Driver - Cenntro iChassis platform for Autonomous Driving Applications o Cenntro’s iChassis has iPhone-like Autonomou s functions that allow app installations for Transport e r different Autonomous Driving Applications Street Sweepe r Robot Materi a l Handling Robot o Apps can be downl
Slide 20: Key Milestones Expected Over The Next 18 Months
Key Milestones Expected Over The Next 18 Months o Close transaction by year end 2021, with $282M in capital and no debt. o Assembly to start at new facility in Jacksonville, Florida with annual assembly capacity of 20,000 vehicles, in early 2022. o Assembly to start at new facility in Dusseldorf, Ge
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