Analyst Predicts Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 Vs. 4% Today; For Solar Integrated Roofing Corp. (OTC PINK: SIRC), Through Its PLEMCo. Subsidiary, Would See A Boom In EV Charging Station De-mand If He’s Right
Call him more than bullish on American EVs. Dan Ives, Equity Analyst at Wedbush Securities, tells CNN Business that he believes electric cars will reach 10% market share of all OEM car sales by 2025 versus only a 4% market share today. If he’s right, it represents a great long term opportunity for EV Charging Station installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. subsidiary.
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).
Analyst Predicts Electric Cars Will Reach 10% Market Share Of OEM Sales In US In 2022 Vs. 4% Today; For Solar Integrated Roofing Corp. (OTC PINK: SIRC), Through Its PLEMCo. Subsidiary, Would See A Boom In EV Charging Station Demand If He’s Right
Ives said this is why he is so bullish: “Ford (NYSE: F), General Motors (NYSE: GM), Rivian (NASDAQ: RIVN) and others follow Tesla (NASDAQ: TSLA) aggressively going after the EV market.”
He acknowledges that the US is lagging China and Europe in market share and embrace of EV vehicles. But he believes America will rapidly make up share as model electric vehicle model are launched. Also, as potential 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.
There remain ‘change’ of mindset issues before electric vehicles are fully accepted in the U.S. One Analyst Predicts Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 Vs. 4% Today; For Solar Integrated Roofing Corp. (OTC PINK: SIRC), Through Its PLEMCo. Subsidiary, Would See A Boom In EV Charging Station Demand If He’s Right
Jessica Caldwell, executive director of Insights at researcher Edmunds, adds, “You’re asking consumers to adapt to a whole different thing. It’s not that they go to a different type of gas station. They have to plan out their route, they have to figure out if they want to install a charger in their home.”
Here are some more positives:
- The U.S. federal government is committed to growing electric cars from 4% of OEM market share today to some 50%. It will spend money to do this on tax rebates for EV car purchasers, grants to EV car companies for new plants and union facilities and a nationwide network of EV Charging Stations.
- Tesla (NASDAQ: TSLA) has shown that making electric vehicles and marketing them can be done at a profit. It makes EVs in China, California and Austin, Texas., and is now close to approval for a plant location in Germany to service Europe. Other OEM makers are envious, want share of this new pie as well as tie-up partnerships with EV Charging Station installers already in place. Tesla (NASDAQ: TSLA) stunned and excited the rest of the electric car industry when it announced its 2021 full year and Q3 record earnings of $1.6 billion and sales of $13.8 billion.
- Wall Street investors who missed the Tesla (NASDAQ: TSLA) gold mine, now want in. That’s a driving reason why the recent IPO for Rivian (NASDAQ: RIVN) was so successful. At a $70 billion valuation, Rivian hasn’t shipped many cars to date, but pre-orders are topping their ability to produce.
- Enter Amazon, which has already pre-ordered some additional 100,000 Rivian electric delivery vans. Morgan Stanley analysts say this order could eventually reach 300,000.
- Now enter the usual suspects: Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and all the European brands,such as BMW, Volkswagen, Mercedes, and others. Even Toyota — the slowest to join electric car believers — is now sold.
- OEM electric car makers are increasingly partnering with electric car makers and auto repair centers, such as Bridgestone and Firestone. Electric cars will require new tires and other work. This is a significant opportunity for EV Charging Station companies to brand with OEM car makers.
- 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 it’s too little?
EV Charging Station installers, like SIRC’s PLEMCo., see the opportunities ahead. As a result, they are bidding for government RFP contracts. They may be slow in coming, but they are large. SIRC is also an applicant for some $100 million in new government federal dollars to help build more EV Charging Stations.
SIRC’s other advantage is that its installers are already performing solar work in the home — where some 80% of EV charging takes place, the government says. Analyst Predicts Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 Vs. 4% Today; For Solar Integrated Roofing Corp. (OTC PINK: SIRC), Through Its PLEMCo. Subsidiary, Would See A Boom In EV Charging Station Demand If He’s Right.
The Federal government is providing tailwinds under its newly-passed ‘Infrastructure’ Biden administration bill. But that $1 trillion bill with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations.
If Biden is to hit his goal of a government-owned fleet of 500,000 electric vehicles — and hit 2030 carbon pollutant-reduction goals — he will need to fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary.
Analyst Predicts Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 Vs. 4% Today; For Solar Integrated Roofing Corp. (OTC PINK: SIRC), Through Its PLEMCo. Subsidiary, Would See A Boom In EV Charging Station Demand If He’s Right
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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