Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Segmented information

v3.21.1
Segmented information
12 Months Ended
Dec. 31, 2020
Segmented information  
Segmented information

19.            Segmented information

The Company operates in two reportable business segments in Canada.

The two reportable business segments offer different products, require different production processes, and are based on how the financial information is produced internally for the purposes of making operating decisions. The following summary describes the operations of each of the Company’s reportable business segments:

·

Electric Vehicles – development and manufacture of electric vehicles for mass markets, and

·

Custom built vehicles – development and manufacture of high-end custom-built vehicles.

Sales between segments are accounted for at prices that approximate fair value. No business segments have been aggregated to form the above reportable business segments.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2020

 

Year ended December 31, 2019

 

 

Year ended December 31, 2018

 

 

 

 

Custom Built 

 

 

 

Custom Built 

 

 

 

Custom Built 

 

    

Electric Vehicles

    

Vehicles

    

Electric Vehicles

    

Vehicles

    

Electric Vehicles

    

Vehicles

Revenue

 

$

 —

 

$

568,521

 

$

 —

 

$

585,584

 

$

 —

 

$

599,757

Gross profit

 

 

 —

 

 

(130,934)

 

 

 —

 

 

98,041

 

 

 —

 

 

155,961

Operating expenses

 

 

(26,837,127)

 

 

(242,426)

 

 

(20,341,597)

 

 

(365,710)

 

 

(12,811,978)

 

 

(351,727)

Other items

 

 

(36,062,460)

 

 

193,490

 

 

(2,666,853)

 

 

(15,704)

 

 

5,278,597

 

 

(17,452)

Current income tax recovery

 

 

(725)

 

 

1,129

 

 

(1,600)

 

 

 —

 

 

 —

 

 

1,286

Deferred income tax recovery

 

 

 —

 

 

32,148

 

 

 —

 

 

80,725

 

 

 —

 

 

 —

Net loss/(income)

 

 

(62,900,312)

 

 

(146,593)

 

 

(23,010,050)

 

 

(202,648)

 

 

(7,533,381)

 

 

(211,932)

FX translation

 

 

4,213,906

 

 

 —

 

 

898,473

 

 

 —

 

 

(763,708)

 

 

 —

Comprehensive loss/(income)

 

$

(58,686,406)

 

$

(146,593)

 

$

(22,111,577)

 

$

(202,648)

 

$

(8,297,089)

 

$

(211,932)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Custom Built

 

 

 

Custom Built

 

    

Electric Vehicles

    

Vehicles

    

Electric Vehicles

    

Vehicles

Inventory

 

$

305,443

 

$

303,651

 

$

237,029

 

$

341,724

Plant and equipment

 

 

9,014,777

 

 

275,531

 

 

7,391,375

 

 

316,488