Jim Farley, CEO of Ford (NYSE” F), predicted on yesterday’s earnings call that Ford would ‘catch’ competitor Tesla (NASDAQ: TSLA) saying, “We’re not going to compete or serve our customers the same way they (Tesla) are. We’re going after pickup trucks, commercial vans, and Mustangs that will have Detroit swagger.” He said Ford has 200,000 buy reservations for its electrified Lightning 150. The Ford optimism on electric vehicles only reinforces the decision by Solar Integrated Roofing Corp. (OTC PINK: SIRC) to refocus its business plan to the fast-growing 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).
Yesterday Jim Farley, CEO Of Ford (NYSE: F), Said His Company Would ‘Catch’ Tesla (NASDAQ: TSLA) And That Ford Now Has 200,000 Buying Reservations For Its All-Electric F-150 Lightning Pickup Truck. Ford Reported 41% Decline In Q1 Earnings On $34.5 Revenue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On Fast-Growing EV Charging Station Business
Commenting again on its F-150 pickup truck, Farley added, “No has a pickup truck like this at $39,000.” The vehicle has 10,000 pounds of towing capacity, boasts a 320 mile range, 563 horse power and flies from 0-to-60 in just 4.4 seconds, he said.
The Detroit Free Press newspaper reported that Ford had said it Q1 $2.3 billion earnings, down 41% YOY. Ford plans to build two million vehicles by the end of 2026. It says it already has some 400,000 vehicles on its order books comingg out of March. Pent-up demand for Ford vehicles is greater than the company’s ability to produce them.
To SIRC, all of this demand for electric mid-priced vehicle product is great news. Rather than a focus on higher ticket Tesla electric vehicles, the consumer ‘want’ for lower ticket electric cars/trucks is perfectly positioned for EV Charging Station installers like SIRC that is focused on brands besides the proprietary Tesla chargers.
Ford has opened a new segment internally — the’ e’ division away from its legacy car business complete with its own P&L to house its now unprofitable but fast-growing electric car business. Currently, ‘e’ produces the Mustang Mach-E and F-150 Lightning pickup truck. It will be a lucrative business: Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights.
Yesterday Jim Farley, CEO Of Ford (NYSE: F), Said His Company Would ‘Catch’ Tesla (NASDAQ: TSLA) And That Ford Now Has 200,000 Buying Reservations For Its All-Electric F-150 Lightning Pickup Truck. Ford Reported 41% Decline In Q1 Earnings On $34.5 Revenue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On Fast-Growing EV Charging Station Business
Ford’s ‘e’ division is housed in the same plant where the company perfected its assembly line system of automotive production. As Ford (NYSE: F) and General Motors ((NYSE: GM) ramps up electric models in the mid-priced affordable range, the future in this business looks bright for SIRC and other EV Charging Station installers.
As it does so, in anticipating of launching into the market its new electric models — the Mustang Mach-E and F-150 Lightning pickup truck — it is aiming to roll out to its fleet customers electric charging equipment for home and depot charging stations to make the transition to all electric vehicles simpler.
In turn, Ford’s fleet customers can then choose whether to have Ford (NYSE: F) endorsed partner install the charging station — or the customer can do it by itself. The choice belongs to the customer. But Ford wants their fleet buyers to know the Company is there to offer assistance and charging equipment.
When the Ford-150 model is launched in the Spring, the company will also offer standard a Ford Mobile Charger. For longer-range vehicles, Ford will also offer options for additional charging station accessories free with the vehicle.
To SIRC, all this bodes well for its devision to refocus its business plan to concentrate on EV Charging Stations. At the end of the day, fleet and consumer purchasers of electric Ford vehicles will want to use conventional EV Charging Stations. Although a greater number of OEM electric vehicle manufacturers will want to use their own charging equipment, SIRC is betting on the increasing role it can play in the soaring EV Charging Station industry.
SIRC has already made the decision about the growing importance of EV Charging Stations. With numbers predicting five million EVs in California alone within a decade. EV Charging Stations will grow exponentially. SIRC sees the opportunity for this alternative energy industry and wants to make itself a brand with a national footprint as it grows.
To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the heightened awareness, reporting structure and model launches in electric vehicles only brings a higher profile to supporting EV Charging Stations. SIRC not only competes in that industry through its PLEMCo., subsidiary, it has also recently announced it has signed an LOI to acquire three LA-based complementary EV Charging Station companies in that industry, as well.
A move to separate electric car operations from its legacy business would give Ford greater access to the capital markets through ‘e’, which have been generous in valuing Tesla (NASDAQ: TSLA). Yesterday Jim Farley, CEO Of Ford (NYSE: F), Said His Company Would ‘Catch’ Tesla (NASDAQ: TSLA) And That Ford Now Has 200,000 Buying Reservations For Its All-Electric F-150 Lightning Pickup Truck. Ford Reported 41% Decline In Q1 Earnings On $34.5 Revenue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On Fast-Growing EV Charging Station Business.
Ford Motor (NYSE: F) reported a record-breaking net profit of $17.9 billion for 2021 — yet roughly half of that profit was a paper gain made on Ford’s equity in the successful Rivian Automotive (NASDAQ: RIVN) electric car IPO last Fall.
Meanwhile, in a move that will soon drive 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.
As Ford and GM go toe-to-toe, SIRC’s PLEMCo., is well positioned to install EV Charging Stations for either or both OEM electric car/truck makers. In short, SIRC wins no matter which OEM company becomes an industry leader.
Yesterday Jim Farley, CEO Of Ford (NYSE: F), Said His Company Would ‘Catch’ Tesla (NASDAQ: TSLA) And That Ford Now Has 200,000 Buying Reservations For Its All-Electric F-150 Lightning Pickup Truck. Ford Reported 41% Decline In Q1 Earnings On $34.5 Revenue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On Fast-Growing EV Charging Station Business
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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