Amazon (NASDAQ: AMZN) -Backed Electric Car And Truck Manufacturer Rivian Files For IPO, Eyes $80 Billion Valuation; Move Will Grow EV Market And EV Charging Station Industry; Solar Integrated Roofing Corp. Focuses On Its (OTC PINK: SIRC) EV Charging Station Business, Applies For $100 Million In Government Grants
Amazon (NASDAQ: AMZN) -Backed Electric Car And Truck Manufacturer Rivian
Files For IPO, Eyes $80 Billion Valuation; Move Will Grow EV Market And EV
Charging Station Industry; Solar Integrated Roofing Corp. Focuses On Its (OTC
PINK: SIRC) EV Charging Station Business, Applies For $100 Million In
Government Grants
Rivian, the electric car and truck marker backed by Amazon (NASDAQ: AMZN) and Ford (NYSE: F), has filed its S-1 registration form with the SEC and is eyeing an $80 billion valuation for its IPO, scheduled for this Thanksgiving. The
move — Rivian plans to begin EV car and truck deliveries in January 2022 —
should grow the EV Charging Station industry further. Amazon (NASDAQ:
AMZN) and Ford (NYSE: F) have invested some $10.5 billion in the startup — is
Rivian the next Tesla? Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) EV
Charging Station Business has applied for some $100 million In government
grants for expansion.
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), 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).
Amazon (NASDAQ: AMZN) -Backed Electric Car And Truck Manufacturer Rivian
Files For IPO, Eyes $80 Billion Valuation; Move Will Grow EV Market And EV
Charging Station Industry; Solar Integrated Roofing Corp. Focuses On Its (OTC
PINK: SIRC) EV Charging Station Business, Applies For $100 Million In
Government Grants
Rivian is hoping for a $80 billion valuation when it goes public. That compares
to the $2 billion Tesla received when it went public in 2010, according to
Bloomberg. The entry of another major brand in the electric car and truck
business is expected to stimulate for EV Charging Station installations and
activity, Wall Street analysts say.
Rivian has an existing production plant in Illinois, but it also reportedly in
talks with Fort Worth, Texas, about opening a second plant in that location
built with a $5 billion investment in that facility. Rivian is jump-starting itself
with a contract with Amazon (NASDAQ: AMZN) for 100,000 electric delivery
vans, including the first 10,000 due by the end of next year, Bloomberg reports.
The Rivian scheduled IPO is seen as benefitting companies like Solar
Integrated Roofing Corp. (OTC PINK: SIRC), which is in the EV Charging
Station industry through its acquisition of PLEMco., a subsidiary with major
government contracts.
A new report analyzes the progress of Tesla (NASDAQ: TSLA), EVgo
(NASDAQ: EVGO), ChargePoint (NYSE: CHPT) and other companies in the
industry. The report finds that the electric EV Charging Station Market Is growing
at a 37.51% CAGR and predicts it will reach $142.47 billion globally by 2028. The
new report, “Electric Vehicle Charging Station Market,” by Market Research
Future detailed how quickly the EV Charging Station industry is growing. It said
the market was seen as only $15.42 billion in 2020.
The North American region, the report predicts, will in the future grow with
government initiatives and the installation of more fast chargers. Eventually, it
concluded, North American will become the highest market share holder during
the court of the market study through 2028 due to higher GDP, growing demand
for electric cars and high employment rates. It also said the industry is growing
fast in North America due to several tailwinds. This includes OEM vehicle
manufacturer support — such as Amazon (NASDAQ: AMZN) and Ford (NYSE:F) for Rivian — government funding plus efforts by states in the U.S. to make
access easier for electric car owners to the charging stations.
Regarding SIRC’s EV Charging Station dedicated division, David Massey,
Chairman and CEO of SIRC, said that the company is optimistic about the
some $100 million in grants it is currently applying for. Amazon (NASDAQ:
AMZN)-Backed Electric Car And Truck Manufacturer Rivian Files For IPO, Eyes
$80 Billion Valuation; Move Will Grow EV Market And EV Charging Station
Industry; Solar Integrated Roofing Corp. Focuses On Its (OTC PINK: SIRC) EV
Charging Station Business, Applies For $100 Million In Government Grants.
Pablo Diaz of SIRC subsidiary USA Solar Network said that PLEMco.,
SIRC’s acquired EV Charging Station company — has a pipeline of so
many state and federal projects that it is overwhelmed. “PLEMco is very
active,” he said.Amazon (NASDAQ: AMZN)-Backed Electric Car And Truck
Manufacturer Rivian Files For IPO, Eyes $80 Billion Valuation; Move Will Grow
EV Market And EV Charging Station Industry; Solar Integrated Roofing Corp.
Focuses On Its (OTC PINK: SIRC) EV Charging Station Business, Applies For
$100 Million In Government Grants.
Diaz described how the pending infrastructure deal is touching SIRC and
its customers on multiple levels. He explained that its impact affects
everything, from an extension on tax credits for solar installations, to the
benefits for EV Charging Stations. “Everywhere, infrastructure touches us
and benefits us and our customers.” Amazon (NASDAQ: AMZN)-Backed
Electric Car And Truck Manufacturer Rivian Files For IPO, Eyes $80 Billion
Valuation; Move Will Grow EV Market And EV Charging Station Industry; Solar
Integrated Roofing Corp. Focuses On Its (OTC PINK: SIRC) EV Charging
Station Business, Applies For $100 Million In Government Grants.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporategovernance/leadership/.
Source: Stock Market Press
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