Presented without comment, this excerpt from an item by John Peterson on the "AltEnergyStocks.com" site, which describes itself as a provider of "high-quality, original research into alternative energy, renewable energy, and clean technology companies":
At the close of business on Thursday, the electric vehicle complex including Tesla Motors (TSLA), A123 Systems (AONE), Ener1 (HEV) and Valence Technology (VLNC) had combined 12-month revenues of $258 million and sported a combined market capitalization of $3.4 billion, including $900 million in stockholders' equity and $2.5 billion in blue sky premium.
In comparison, the lead-acid battery complex including Enersys (ENS), Exide Technologies (XIDE), C&D Technologies (CHP) and Axion Power International (AXPW.OB) had combined 12-month revenues of $4.6 billion and a combined market capitalization of $1.6 billion, including $1.2 billion in stockholders' equity and $460 million in blue sky premium.
Something is out of kilter when the electric vehicle complex has 6% of the sales and 77% of the stockholders equity of the lead-acid battery complex, but trades at twice the price.
A123 is one of two companies written about recently in Capitol Confidential for each being the recipient of at least $100 million in cash subsidies from Michigan taxpayers:
Michigan Taxpayers Writing Check to Second Electric Car Battery Maker for $100 Million
Michigan Taxpayers to Write $100 Million Check to Korean Battery Maker
Cost to Revive Economy With Battery Plant Subsidies: $5 Trillion
Permission to reprint this blog post in whole or in part is hereby granted, provided that the author (or authors) and the Mackinac Center for Public Policy are properly cited.