Item 1A. Risk Factors
ITEM 1A RISK FACTORS
In addition to the other information set forth in this report, you should carefully consider the risk set forth below and the risk factors as described in Part I, Item 1A, ”Risk Factors”, in our Annual Report on Form 10-K/A for the year ended December 31, 2020.
The revenues generated from our e-Mobility business are dependent on orders from a leading automotive manufacturer. The automotive industry is facing significant shortages of components for their assembly and their slowdown in manufacturing could delay orders of our powertrain kits.
The automotive industry is facing significant shortages of components, including semiconductors due in large part to strong cross-industry demand, which has presented challenges and production disruptions globally. Many leading automotive manufacturers have announced that these shortages will remain constrained and could extend into 2023. As a result, our customer has announced temporary suspensions of its manufacturing due to component shortages. These suspensions may cause delays of orders for our powertrain units and an accumulation of inventory related to the production of these products, which in turn may have an adverse effect on our revenues and other financial results from this business.
ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3 DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4 MINE SAFETY DISCLOSURES
Not applicable.
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