Hong Kong Watchmaker To Buy Japanese EV Startup GLM, AKA “Japan’s Tesla”

6 days ago by Eric Loveday 5

GLM G4

Referred to as Japan’s Tesla (no snickering please), electric vehicle startup GLM is in the process of being bought out by Hong Kong watchmaking company O Luxe Holdings.

GLM G4

GLM isn’t a household name on InsideEVs, though we’ve featured GLM vehicles from time to time. The hottest GLM electric car to date is the G4, which debuted at the Paris Motor Show in October 2016.

Nikkei reports on the terms of the deal:

“Hong Kong watchmaker snaps up ‘Japan’s Tesla’ for $114mn”

“O Luxe will acquire 85.5% of GLM’s outstanding shares.”

GLM is also known for its Tommykaira ZZ electric car. This car features the world’s only resin windshield that parts with an A pillar.

Nikkei adds:

“GLM was set up as a Kyoto University venture in 2010.”

“The Hong Kong watchmaker plans to fund the purchase both with cash and by issuing new shares to GLM. The shares will be worth HK$0.82 apiece, 19.6% cheaper than the HK$1.02 at Thursday’s close.”

O Luxe hasn’t released any info on future plans for GLM.

Source: Nikkei

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5 responses to "Hong Kong Watchmaker To Buy Japanese EV Startup GLM, AKA “Japan’s Tesla”"

  1. Vexar says:

    “features the world’s only resin windshield that parts with an A pillar.” Unless you count the Renault Trezor, although that’s a prototype and I have no idea what it is made out of.

    1. vdiv says:

      Well, Kryptonite of course, the red kind 😉

  2. MTN Ranger says:

    I guess GLM needed a hand and some extra time now to catch up to you-know-who. Time to clock-in and get busy. Second place is better than nothing.

  3. speculawyer says:

    *snicker*!

    Never even heard of this company until now.

  4. Pushmi-Pullyu says:

    *snicker*

    I view with disdain any EV startup that doesn’t have any reputation of its own, but wants to borrow Tesla’s by calling itself “The _____ Tesla” (in this case, “The Japanese Tesla”) or trying to paste a “Tesla killer” label on its cars.

    And Kudos to Rivian Automotive for eschewing that overused and transparent marketing ploy, and quietly working to establish its own reputation!

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