Coming out on top are automotive companies Toyota and Volkswagen with a net debt of $186 billion and $185 billion, respectively. Competitor Mercedes-Benz had $109 billion of outstanding debts on its balance sheet this past year, while the rest of the top 8 is made up of telecommunication and utility providers like AT&T, Deutsche Telekom and Életricité de France.
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INB4 Porsche goes public to pay off that debt for EV development.
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Do you think (or know) that the debt of the other auto makes is also b/c of EV development?
It’s a fascinating graph. Telecom and utility companies b/c they’re constantly upgrading infrastructure?
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I would be shocked if a majority of it wasn’t from EV development. Here is an article from last year stating Toyota was spending $35 billion on development.