There were many stocks that made considerable gains last week and one of those was the Cybernetics Technologies Ltd or HPIL Holding (OTCMKTS:HPIL) stock. The company announced last week that it is going to start work on the development of its own electric-powered auto, which has been christened Apogee D7.
Cybernetics also announced that it is going to use powertrain technology owned by Apogee Dynamics Ltd for developing this product. The announcement was made on June 22 and it came as a major boost for the Cybernetics stock. Over the course the previous week, the stock ended up with gains of as much as 210%.
Hence, it might be argued that the stock could be in focus this morning and it remains to be seen if it can continue to maintain its momentum. Cybernetics is planning to for the Apogee D7 to be a vehicle that seats 4 people and in addition to deploying powertrain technology, there are going to be 10 additional partners from different industries who are also going to be involved in this project. Some of those partners are going to be diverse industries like green, technology and media among others.
However, all those additional partners are going to have one thing in common and that is disruptive business models. It has been revealed that all these partners are going to be making a contribution towards this vehicle and are going to have their imprints. The Chief Executive Officer of Cybernetic stated that the website for Apogee D7 is going to be live in the next 45 days.