Biden Administration Rolls Out February EV Charging Station Plan With New Spending: $5 Billion For States To Broaden Charging Networks And $3 Billion In Grants To Build A N. American Battery Supply Chain; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Active In EV Charging Space
President Biden rolls out 2022 EV Charging Station plan. Some of the numbers we know: a $7.5 billion carve out from the Infrastructure Law for EV Charging Stations. Here’s what we didn’t: $5 billion for states to broaden electric charging networks, $3 billion in grants to build a new North America battery supply chain network and a new Joint Office of Energy And Transportation to oversee the new charging network. Biden says that guidance will be published by February 11 for states to ‘strategically employ’ a national network of EV Charging Stations alongside the US national highway system.
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).
Biden Administration Rolls Out February EV Charging Station Plan With New Spending: $5 Billion For States To Broaden Charging Networks And $3 Billion In Grants To Build A N. American Battery Supply Chain; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Active In EV Charging Space
The goal for Biden’s administration is for electric cars to count for half of all new cars sold by 2030 — zero emission vehicles are only 4% of all US new cars sold today.
The Biden Administration also sees electric car batteries are key. It will spend $3 billion in competitive grants to build a new battery supply chain for electric cars.
It also calls for another $3 billion in grants to expand US battery manufacturing capabilities as well as creating battery recycling facilities.
Add it all up and this Administration recognizes the need to spend money on electric car infrastructure, new battery facilities and EV Charging Station networks. It is focusing on rural areas as well as low income areas.
When Toyota (NYSE: TM) was earlier less-than-enthusiastic about penetration of electric vehicles between the coasts — California and New York — it now sees the difference. Now, Toyota has changed its tune. It is pledging to build 3.5 million electric vehicles by 2030 — including shifting its entire high end Lexus line to electric by 2030, in the U.S., China and Europe.
In May, Toyota was planning for just two million electric cars by 2030 — now it plans to build 3.5 million EV’s by that date.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) benefits from Toyota’s move as it reaffirms the growth of EVs in the future. SIRC through subsidiary PLEMCo. competes in the EV Charging Station space. Biden is enabling PLEMCo. and other EV Charging Station installers to build more charging units in more rural and lower income locations.
Its series of multi-billion dollar grants to support its end-goals is an important incentive to SIRC’s PLEMCo. subsidiary. To show he is serious, Biden’s new joint office structure will oversee the moves nationally for electric cars, EV Charging Stations and battery supply lines and recycling centers.
Prior to all this, Toyota (NYSE: TM) said that its customers in the U.S. outside the coasts (Midwest) were not yet ready for battery powered cars.
Toyota was the last major OEM holdout, and its management remained cautious. Now, Akio Toyoda, president, says driving electric cars is fun. He remains cautious about the move to EVs, but says that the efficiency of an electric car is unequalled, he told The Wall Street Journal.
He is in good company. Ford (NYSE: F) is now aiming for 40% of its sales to come from EVs by 2030. General Motors (NYSE: GM) focuses on going all-in on electric vehicles by selecting two combined $3 billion home state Michigan sites this week. One will be a conversion of its assembly plant in Orion for EV truck assembly. The other is near Lansing, a 50-50 joint venture battery plant with partner LG.
Mary Barra, CEO of General Motors (NYSE: GM), says the $3 billion EV investment for both facilities — plus LG’s $1 billion JV share — is an efficient exercise.
“We can leverage and go faster because of the existing (factory) footprint that we have,” Barra said. Biden Administration Rolls Out February EV Charging Station Plan With New Spending: $5 Billion For States To Broaden Charging Networks And $3 Billion In Grants To Build A N. American Battery Supply Chain; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Active In EV Charging Space.
EV leader Tesla’s (NASDAQ: TSLA) growth and the successful IPO of start-up Rivian (NASDAQ: RIVN) means that Wall Street likes what it sees.
The support network of EV Charging Station installers will benefit from EV’s growth. Solar Integrated Roofing Corp. (OTC PINK: SIRC) through its PLEMCo. subsidiary competes in the EV Charing Station space.
Tesla, the leading EV vehicle OEM manufacturer, now owns 56% of the electric charging market. However, Tesla’s EV Charging Stations are mostly proprietary to Tesla itself. OEM Electric Car Makers, From Ford (NYSE: F) to General Motors (NYSE: GM), are or already have chosen Electric Charging Station partners.
The federal government says 80% of all charges are performed at home. So solar installers like SIRC are especially attractive partners because their crews are already in the home performing installations of solar and roofing already.
SIRC’s PLEMCo. has been successful in winning government contracts to build EV Charging Stations. And SIRC itself is an applicant for some $100 million in new federal grants to help build more EV Charging Stations, under President Biden’s newly-passed Infrastructure Law.
Firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC) are more bullish than ever on the future of its subsidiary PLEMCo.’s EV Charging Station business. Biden Administration Rolls Out February EV Charging Station Plan With New Spending: $5 Billion For States To Broaden Charging Networks And $3 Billion In Grants To Build A N. American Battery Supply Chain; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Active In EV Charging Space.
General Motors (NYSE: GM) plans to introduce 30 all electric vehicle models globally by 2025, beginning with its first electric pickup truck being shown trade events— a competitor to Ford’s (NYSE: F) new ‘Lightning,’ an electric version of its best-selling ‘150’ pickup truck.
Electric car sales in the U.S. more than doubled in the first half of 2021with Ford (NYSE: F), General Motors (NYSE: GM) and foreign OEM makers, such as Mercedes-Benz, Volkswagen and BMW AG, setting self-imposed deadlines of 2030 for all-electric model lines. EV Charging Stations — especially fast charging stations — are a key factor in driving electric vehicle sales.
SIRC is a proponent of an eco-system of green energy. The EV Charging Station sector is an important space for SIRC, in addition to its roofing, solar and rechargeable solar battery businesses.
Biden Administration Rolls Out February EV Charging Station Plan With New Spending: $5 Billion For States To Broaden Charging Networks And $3 Billion In Grants To Build A N. American Battery Supply Chain; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Active In EV Charging Space
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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