Against a backdrop of a continuously falling stock market — the S&P hit a 52-week low yesterday — electric car OEM makers remain positive about EVs and are investing in a work-around on sourcing materials for electric batteries. They are also eyeing new ones with shorter charge times and longer driving ranges. The industry appears to be transitioning to lithium-silicon batteries. Porsche is leading the charge with a $100 million investment in Group 14 Technologies and silicon-carbon technologies for lithium batteries. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is also bullish on the future of electric cars and its own 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).
S&P Drops To 52-Week Low Yesterday As Electric Car Makers See End-Around Solution To Material Shortages For Batteries; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Alternative Energy Sectors Such As EV Charging Stations
Lutz Meschke, head of finance at Porsche, says, “The battery cell is the combustion chamber of the future. Our goal is to be a leading company within the global competition for thee most powerful cell.”
In its new funding round, Group 14 raised a total of $400 million for its construction of another factory to produce battery active materials in the U.S. S&P Drops To 52-Week Low Yesterday As Electric Car Makers See End-Around Solution To Material Shortages For Batteries; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Alternative Energy Sectors Such As EV Charging Stations.
That battery cell chemistry produces electric cars with longer ranges. It can also charge faster than most batteries. The result, according to industry analysts, is that it can be a ‘game changer’ on the road: shorter charge times and longer driving ranges.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is also optimistic about the EV Charging Station network long-term future of subsidiary PLEMCo. It was one of only 16 companies to receive a federal award for a Design and Material only contract to service electric vehicles. Further, SIRC’ PLEMCo., is currently applying for a second Electric Vehicle Supply Equipment (EVSE) — BPA, expected to be awarded in mid-July. That one is for Design, Equipment and installation of EV Chargers.
“This contract further supports our strategic shift towards prioritizing our over $30 million electric vehicle (EV) charging station pipeline and over $20 million EV charging project backlog given the immense near-term opportunities. This will serve to further bolster our position as a clear national player in the space, helping to create sustainable value for our shareholders. We look forward to additional announcements regarding EV Charging opportunities in the months ahead,” David Massey, SIRC CEO.
As long as consumers have economic strength, Solar Integrated Roofing Corp. (OTC PINK: SIRC) remains optimistic about its core businesses in alternative energy. Consumers continue to invest in rooftop solar installations and electric cars, supported by roadside EV Charging Stations installed in part by SIRC subsidiary. PLEMCo.
S&P Drops To 52-Week Low Yesterday As Electric Car Makers See End-Around Solution To Material Shortages For Batteries; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Alternative Energy Sectors Such As EV Charging Stations.
Rising gasoline prices continue to represent an important incentive to buy electric vehicles in the future. Food, home fuel, housing and cost-of-living expenses are rising faster than some consumers can handle. At 70% of the GDP, consumer spending is vital to future spending power and the economy.
Fed Chair Jerome Powell, in announcing the 50 basis point increase last week, says, “Inflation is much too high and we understand the hardship it is causing, and we moving expeditiously to bring it back down.“
A good trend in all this is that electric car companies are now aiming more mass-attractive mid-priced models, not only luxury vehicles like the Tesla (NASDAQ: TSLA). General Motors (NYSE: GM) and Ford (NYSE: F) are offering mixed priced electric models. GM is planning an electric line of standard Chevrolets against a $100,000 Hummer model. Ford is focusing on pickup trucks and balancing that with electric muscle cars, such as the Mustang. Dollar-conscious consumers might like lower priced electric cars, as well.
Against this backdrop, the federal government has allocated $5 billion to help build a national network of EV Charging Stations, supporting a national effort to create a nationwide network of electric vehicles. Grants are now federal law. One of the bipartisan Infrastructure Bill’s stated goals is to install EV Charging Stations every 50 miles along the interstate system.
According to research firm Technavio, government spending will help the EV Charging Market Station grow by $22.02 billion from 2020-2025. Other factors will help propel expansion in this dynamic market — such as M&A and collaboration between charging company brands themselves and partnerships between charging companies and others allied to the industry.
S&P Drops To 52-Week Low Yesterday As Electric Car Makers See End-Around Solution To Material Shortages For Batteries; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Alternative Energy Sectors Such As EV Charging Stations.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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