7 min read
Opinions expressed by Entrepreneur contributors are their own.
Alejandra Ortiz and Javier Mejía are two young people under the age of 30 who met in the middle of the Industrial Design degree at the Tecnológico de Monterrey. By chance of fate, they agreed on a subject that would change their lives and now they run a company focused on developing teams for people with disabilities.
A path that started from the bottom with the place, the tools and even a borrowed desk, not to mention the money, today it is a unique design office in Mexico.
When you have the will, the talent and even the fang, a simple project can become a company. Alejandra and Javier took a course that was about designing a product for someone with a disability. The Tec de Monterrey and the DIF assigned them to a person, each with a different diagnosis. The team of these young entrepreneurs had a person with quadriplegia due to a motorcycle accident. The aim was to design something that would help them improve their quality of life in any area or daily activity.
The process of creating
In an arduous job of interviews to find out what the person needed and wanted, they began their research to know all the existing devices up to that moment, to be able to stand or walk. Thus they came to the standing chairs (which help to keep the person upright on the lower extremities). These have a high cost for being imported, the most “accessible” Alejandra tells us in an exclusive interview for Entrepreneur en Español, is 120 thousand pesos plus shipping and taxes.
In this way Alejandra and Javier realized the need to have this type of equipment in Mexico, because the majority of people with disabilities in the country have many difficulties to pay for them.
According to data from the National Institute of Statistics and Geography (INEGI), Mexico has a population of more than 6 million people with disabilities.
In order to make the initial prototype, the young people had to invest from their pockets and even borrow money because in the end neither the academic institution nor the DIF sponsored them as it was initially going to be. However, Alejandra and Javier already had a commitment and decided to go to the end. They even won the award for the best project at Tec de Monterrey.
From school to entrepreneurship
After finishing the student project, both the internal media of the school and other communication media made them known. So people started looking for them and even the director of the institution came to take errands. Javier admits that they did not know the impact they were going to have or how many people needed such a product.
In this way they realized that they were forming a company and that it could work. After graduation they had their first fit client. “The same project led us to the right people,” reflects Alejandra.
Image: Courtesy: Puro Diseño Mexicano
In 2016 they entered the National Design Award and won in three categories; Best Medical Equipment Design, Concept Design and Product Design. In that edition they were recognized with an economic prize of 50 thousand pesos, which helped them to start financing and promoting the project.
Although in Puro Diseño Mexicano they are few, they have alliances with blacksmiths and have the workshop to adjust details of the products. In addition, in their entrepreneurship process they had to learn to balance the workload: while Javier focuses on production, Alejandra takes care of administrative issues.
The two pillars: accessibility and customization
The young people explained to Entrepreneur en Español , that from the beginning they were very clear about what they wanted to achieve: make this type of device available to more people and that it be manufactured here in Mexico using local products and talents. In addition to promoting fair trade.
“ They sell them as if they were household appliances. Products made in series that are not designed for the needs of each user ”, Alejandra comments regarding the equipment that most of them sell are not personalized.
“As disability is so diverse, it is very difficult for a chair to fit all people even if they have the same diagnosis .” For that reason, all its chairs are custom-made with the needs of each client in mind, “none is the same as another”, in the words of the entrepreneur.
As for the prices to the public, they are far from a device bought abroad. The cheapest chair to stand up (because it is manual) is around 27 thousand pesos, on the other hand, the one with the highest cost (because it is totally electric) costs approximately 55 thousand pesos. That same type of chair in another part of the world is worth more than 300 thousand pesos.
Image: Courtesy: Puro Diseño Mexicano
Although they started with the standing chair and it has had several modifications to adapt to different diagnoses, now they also manufacture other types of chairs, not only to be able to stand up. For example, electric chairs, active (for daily use), children, accessories for postural control of children and exercise bikes. In general they are products to carry out activities that you cannot with a “normal” chair. In addition to rehabilitation equipment with virtual reality.
With organic growth, they already make shipments to the entire Mexican Republic from their website and plan to expand their market to Latin America. They are still on their way to make society more equitable by helping people every day from their workshop and even naming the chairs with the surnames of their clients. Although it is a business, young people often consider that the retribution is more emotional.
“Disability is not a physical limitation, it is a social fact and, by generating these tools to make them available to people, we help reduce segregation and promote the construction of more plural and inclusive communities”, Alejandra Ortiz founder of Puro Diseño Mexican.
Tesla vs. Geely: Which Electric Vehicle Manufacturer is a Better Buy?
4 min read
This story originally appeared on StockNews
The electric vehicle industry is growing at a rapid pace and as such is attracting the entrance of established manufacturers, such as the China-based Geely (GELYY). But are these new entrants in general, and Geely specifically, be able to threaten Tesla’s (TSLA) leadership position?.
One of the hottest industries in which to invest currently is electric vehicles (EVs). As the globe inches towards clean energy production and consumption, companies within the EV space are poised to grow at an accelerating pace.
While 2020 was a breakthrough year for EV stocks, several EV companies have underperformed the market this year, allowing investors to buy growth stocks at more attractive valuations.
Here we compare two popular EV stocks. One is a market leader, Tesla (TSLA), and the other is Geely (GELYY), a company that is domiciled in the country with the world’s largest EV market—China.
Click here to checkout our Electric Vehicle Industry Report for 2021
Let’s see which stock is a better EV buy right now:
Tesla continues to surprise Wall Street
In the first quarter, Tesla sales were up 74% year over year, driven primarily by a 109% increase in vehicle deliveries. Its net income also surged to record highs on the back of regulatory credits.
In Q1, Tesla increased deliveries of its low-cost Model 3 and Y by an impressive 140% year over year to 182,338 units. However, deliveries of its higher-priced Model S and X vehicles were down 83%, at 2,030 units, in Q1 because Tesla put the production of these vehicles on hold and aims to launch newer versions of the models in coming months.
Tesla reported $438 million in net income, or $0.93 per share, in the first quarter. This included a $101 million gain associated with its sale of Bitcoin. It also reported $518 million in sales of regulatory credits. Tesla bought $1.5 billion worth of digital assets in the quarter. Absent the above-referenced sales, Tesla would have reported a $181 million loss in Q1.
Tesla has pumped in $1.35 billion in capital expenditures and began construction in two new factories in Berlin and Texas. Once these projects are complete the company should benefit from positive free cash flows over time.
Even though Tesla continues to use unconventional methods to boost its bottom-line, it remains one of the best stocks in the EV sector. It is on track to increase its vehicle deliveries by more than 50% year over year in 2021. The company’s management also confirmed it has sufficient liquidity to fund its expansion plans without having to raise additional capital.
Geely stock is down 42% from 52-week highs
An investment holding company, Geely operates as an automobile manufacturer in China. It develops , produces, markets, and sells automobiles and automobile parts and related components. Geely manufacturers sedans, wagons, and sport utility cars.
Geely is an established automobile manufacturer that is now eyeing the lucrative EV space. Earlier this year, China’s tech giant Baidu disclosed that it will partner with Geely Automobiles to manufacture smart EVs. Baidu will provide intelligent driving capabilities while Geely will leverage its design and manufacturing expertise.
But while Tesla is growing its top line at an enviable pace, Geely has seen its sales decline to RMB 92 billion in 2020 from RMB 106.59 billion in 2018. Its EBITDA has also fallen, to RMB 11.83 billion in this period from RMB 17.24 billion. And Geely’s EBITDA margin has fallen to 12.8% in 2020 from 16.2% in 2018.Geely has attributed the sales decline to China’s weak passenger vehicle market. While its sales volume was down 10% year over year in 2019, it fell by another 6% in 2020. This is in-part why its stock is trading 42% below its 52-week high.
The final takeaway
While Tesla is the largest EV manufacturer in the world, Geely is still trying to gain a foothold in this nascent industry. In terms of valuation, Tesla is trading at a far higher multiple than Geely. For example, Tesla’s trailing price to sales multiple stands at 20.5x, while Geely is valued at less than two times trailing sales.
But Tesla’s robust revenue forecast and expanding profit margins can support this lofty valuation, making it a better investment bet right now.
TSLA shares . Year-to-date, TSLA has declined -5.97%, versus a 12.45% rise in the benchmark S&P 500 index during the same period.
About the Author: Aditya Raghunath
Aditya Raghunath is a financial journalist who writes about business, public equities, and personal finance. His work has been published on several digital platforms in the U.S. and Canada, including The Motley Fool, Finscreener, and Market Realist.
The post Tesla vs. Geely: Which Electric Vehicle Manufacturer is a Better Buy? appeared first on StockNews.com
Former Olympic Boxer Felix Verdejo-Sanchez Arrested for Kidnapping and Killing Pregnant Woman
“I commend our partners in the FBI, the Puerto Rico Police Bureau, and the Puerto Rico Department of Justice for their dedicated and tireless efforts that led to the charges and arrest of the defendant,” said United States Attorney Muldrow in a written statement. “We will continue working towards the ending of gender-based violence, and we offer our deepest condolences to the family of the victim.”
Verdejo-Sanchez was arrested on a federal criminal complaint charging him with: (1) kidnapping resulting in death, in violation of Title 18, United States Code, Section 1201; (2) carjacking resulting in death, in violation of Title 18, United States Code, Section 2119(3); and (3) intentionally killing an unborn child, in violation of Title 18, United States Code, Section 1841, also known as the “Unborn Victims of Violence Act of 2004” or “Laci and Conner’s Law.” The penalties for the kidnapping and carjacking statutes include life in prison or the death penalty, and life in prison for the intentional killing of an unborn child.
“Puerto Rico mourns Keishla Rodríguez’s death. Our deepest condolences to her family and friends. The Puerto Rico Police Bureau and the federal agencies have worked long hours collaborating as a team to solve this cold murder expeditiously. Our police officers’ dedication, passion, and experience were essential in solving this murder in 48 hours. It demonstrates how the collaboration of efforts is essential for our public safety. We’ll keep on working together and we will seek justice for Keishla,” said Alexis Torres, Secretary of the Department of Public Safety.
“I congratulate the policemen, prosecutors, and forensic sciences personnel, who, as a single team, tirelessly and with the greatest of commitments, put their hearts to solve Keishla’s case in an agile and precise way. Our commitment to her family, from day one, was to do justice to Keishla and we have already begun to do so,” said Antonio López, Puerto Rico Police Bureau Commissioner.
Google sued for ‘pirating’ Mexican movies on YouTube
Spanish producer Carlos Vasallo filed the lawsuit against the two Alphabet companies in Florida.
2 min read
This story originally appeared on Cine Premiere
Google faces a lawsuit, in a federal court in Florida, by the Spanish audiovisual producer Carlos Vasallo , who accuses the company of allegedly exploiting the piracy of his films on the famous video website. According to information issued by reporter Peter Hayes from the Bloomberg portal, Vasallo claims to have “the world’s largest collection of Mexican and Latin American films.”
Within the lawsuit filed last Monday, May 3, Carlos Vasallo’s company, whose name responds to Athos Overseas, affirms that Google has allowed the films of its property to be shown on the YouTube platform to generate income without making any license payment . “The films have been viewed countless times on YouTube and have generated significant income for the defendants,” the lawsuit document said. ” Google and YouTube have been unfairly enriched by the intentional misappropriation of the films , causing Athos to suffer a loss in the value of the collection,” adds ( via ).
In the lawsuit, it can also be read that said collection of films are “a valuable part of Mexico’s Golden Age” and that Carlos Slim had even offered Vasallo more than $ 100 million for the entire series of films ( via ).
Who is Carlos Vasallo?
Currently, Carlos Vasallo is CEO and president of América CV Network. But since 1975 he has been in charge of founding and directing various companies focused on audiovisual production such as American General Films USA, Mexican Home Video, Video Universal México, América Home Video, Films Nacionales, Cinematec Video, Connoisseur Video, Top Entertainment, Cine Estelar, Cinema Nostalgia and the television channel Vasallo Vision ( via ).
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