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General Motors (NYSE: GM) Stock Last Evening Rose In After-Hours Trading Af-ter Company Reported Q1 $2.09 EPS Beating Analysts And Revenue Of $35.98 Billion As Wall Street Sees Long Term Electric Car Success; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Focuses On EV Charging Station Growth

General Motors (NYSE: GM) surprised Wall Street with better than expected earnings and more news on its commitment to electric cars — including an all-electric Corvette within two years — as it report $2.09 EPS for Q1 on revenue of $35.98 billion. GM first slumped in regular trading hours, then jumped high in after market trading almost 2% to $38.79. GM has goals of 300,000 EV deliveries in 2023. Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. subsidiary are hoping GM succeeds as they are in the EV Charging Station business.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

General Motors (NYSE: GM) Stock Last Evening Rose In After-Hours Trading After Company Reported Q1 $2.09 EPS Beating Analysts And Revenue Of $35.98 Billion As Wall Street Sees Long Term Electric Car Success; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Focuses On EV Charging Station Growth

The $2.09 EPS beat analysts projections that GM’s Q1 earnings would be $1.56 per share. After the announcement, GM share price increased after hours. That makes four straight quarters that GM earnings have beat consensus opisions of analysts in advance. What does GM know that stock pros do not?

Mary Barra, GM CEO, said in a earnings call with analysts last night that GM would ramp up its electric car business. “We are now in a rapid launch cycle,” she declared. “Because of this, our drive to produce 400,000 EVs in North America over the course of 2022 and 2023 is underway.”

She revealed that an electrified Corvette will debut next year — a hybrid — and an all-electric Corvette will be introduced within two years. She prior talked about the early reservations success of GM’s all-electric Hummer vehiclee, priced at around $100,000.

By the of 2025, she said, GM will have the capacity to build 1 million EVs in North America represented some $50 billion in annual revenue.

“Cadillac will be or first all electric brand and its journey began last month with the production launch of the Lyric,” she said. The company will also introduce ‘more affordable’ all-electric models of its Chevrolet and Buick models.”

General Motors (NYSE: GM) Stock Last Evening Rose In After-Hours Trading After Company Reported Q1 $2.09 EPS Beating Analysts And Revenue Of $35.98 Billion As Wall Street Sees Long Term Electric Car Success; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Focuses On EV Charging Station Growth

All of this increased competition for all electric cars will be a boon for SIRC. Despite the leadership of Tesla (NASDAQ: TSLA), these mid-priced and higher priced electric vehicles from companies like GM will offer the core business to SIRC of EV Charging Stations.

In a move that will boom demand for EV Charging Stations in North America, General Motors (NYSE: GM) has now raised its sales target for electric vehicles to 400,000 in North America in 2022-2023 compared to only 25,000 Bolt models sold last year. If the target sales are met, it could mean a spectacular opportunity for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. Subsidiary that builds EV Charging Stations.

Mary Barra, GM CEO, knows that the company is under global pressure to build and sell (deliver) more electric vehicles in the next couple of years. GM, she said, is now looking to build its third electric truck plant.

“We also recognize that we need to launch more EVs faster,” Barra told investors on a recent earnings call. “So that’s exactly what we are going to do.” Her total vision for an EV sales total is 300,000 in 2023 and some 400,000 in the next two years.”

GM’s longer term financial guidance for 2022 is profit in the range of $9.4-$10.8 billion, Barra said. General Motors (NYSE: GM) Stock Last Evening Rose In After-Hours Trading After Company Reported Q1 $2.09 EPS Beating Analysts And Revenue Of $35.98 Billion As Wall Street Sees Long Term Electric Car Success; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Focuses On EV Charging Station Growth.

  • Research studies cannot keep up with the growth. Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights. Maybe that projection is too little in the context of all-in electric vehicle production efforts.

SIRC’s advantage is that its installers are already performing solar work in the home — where some 80% of EV charging takes place, the government says. But it is also watching partnership agreements between EV Charging Station companies and OEM electric car makers and other retailers allied to the field — such as Bridgestone-owned Firestone aftermarket auto repair/tire centers.

As potential electric vehicle buyers see more EV Charging Stations on the road and in high profile charging locations near auto dealerships, prominent retail stores and even tire dealerships, their range anxiety fears will be addressed — and these potential buyers will want to try electric vehicles.

General Motors (NYSE: GM) Stock Last Evening Rose In After-Hours Trading After Company Reported Q1 $2.09 EPS Beating Analysts And Revenue Of $35.98 Billion As Wall Street Sees Long Term Electric Car Success; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Focuses On EV Charging Station Growth

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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