Biden Sets 2030 Deadline For Electric Car Sales To Reach 50% Of All Auto Totals And Proposes $7.5 Billion For EV Charging Stations, But Gas Stations And Convenience Stores Can’t See Spending $100,000 For Each EV ‘Fast Chargers’; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Plans Focus On Its EV Charging Station Division
President Biden has lofty plans for EV to reach 50% of all U.S. cars sold by 2030. He’s also proposing $7.5 billion for a national network of EV Charging Stations. But not so fast. The reality is that each fast charger EV station costs $100,000 today when EV vehicles barely have a 3% share of all new U.S. car sales. OEM car makers may be on board with the goals of Biden’s lofty plans, but the gas pumpers — such as Pilot and RaceTrac — don’t see it that way. Biden’s infrastructure bill, still in debate in Congress, includes $7.5 billion for the building of a national network of EV Charging Stations. The Wall Street Journal reports that companies like RaceTrac Petroleum are having issues with investing some $100,000 apiece for fast chargers when electric cars account for only 2-3% of all U.S. Auto Sales today. Major chains say large investments in fast charger installations cannot be justified by the small population of electric cars now. Some companies, like Solar Integrated Roofing Corp. (OTC PINK: SIRC), have applied for government grants to help them build more EV charging stations.
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).
Biden Sets 2030 Deadline For Electric Car Sales To Reach 50% Of All Auto Totals And Proposes $7.5 Billion For EV Charging Stations, But Gas Stations And Convenience Stores Can’t See Spending $100,000 For Each EV ‘Fast Chargers’; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Plans Focus On Its EV Charging Station Division
“We don’t see an investable marketplace,” A. J. Siccardi, president of Metroplex Energy, Inc., subsidiary of RaceTrac Petroleum — operator of 750 RaceTrac and Raceway stations — told the NACS news site. He said the company wants to install fast chargers, but does not see today a “viable business case.” Biden Sets 2030 Deadline For Electric Car Sales To Reach 50% Of All Auto Totals And Proposes $7.5 Billion For EV Charging Stations, But Gas Stations And Convenience Stores Can’t See Spending $100,000 For Each EV ‘Fast Chargers’; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Plans Focus On Its EV Charging Station Division.
The CEO of Murphy USA, R. Andrew Clyde, told The Wall Street Journal “Electric vehicles have to be affordable, which they aren’t. J. P. Fjeld-Hansen, vp of Trillium — subsidiary of 560-location Love’s — added, “What really drives us to put locations in is when there’s heavy subsidies available, where we can more or less build it for free.”
That’s where the trillions of dollars being proposed for infrastructure may come in. Insiders in Washington say that electric car and truck rebates will be coming later this year, if all passes, and that while EV’s represent just 3% of total U.S. car sales in the past few months, the development of the nationwide network of EV Charging Stations can trigger for EV vehicle sales. Biden Sets 2030 Deadline For Electric Car Sales To Reach 50% Of All Auto Totals And Proposes $7.5 Billion For EV Charging Stations, But Gas Stations And Convenience Stores Can’t See Spending $100,000 For Each EV ‘Fast Chargers’; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Plans Focus On Its EV Charging Station Division.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) has a dedicated EV Charging Station division, launched when SIRC acquired Pacific Lighting or PLEMco., a company with numerous government contracts. At SIRC the future in EV Charging Stations is getting brighter. David Massey, Chairman and CEO of SIRC, recently told shareholders that he remains optimistic about the company’ applications for government grants to build more EV Charging Stations. Like the executive at the Love’s 560-store company, Massey would be thrilled about governmental dollar grant support to expand more into the EV Charging Station industry.
The domestic OEM car manufacturers are already on board with future growth in electric cars. At the White House signing ceremony were representatives of the Big Three automakers: Ford (NYSE: F), General Motors (NYSE: GM) and Jeep maker Stellantis. All were optimistic about reaching 40-50% of total US auto sales with EVs by 2030. The issue of range-anxiety by potential electric car buyers could be alleviated is companies like SIRC received government grants to build more EV Charging Stations.
President Biden is expected to establish a federal rebate program for EVs to trigger electric car and truck sales this Fall and his DOE is offering grants to help build out more EV Charging Stations. As states push ahead with more EV Charging Stations, and OEM EV makers announce partnerships for the installation and maintenance of power systems, renewable energy companies such as Solar Integrated Roofing Corp. (OTC PINK: SIRC) have applied for grants to help fund a larger EV Charging Division and acquiring companies to increase its footprint in this space. Biden Sets 2030 Deadline For Electric Car Sales To Reach 50% Of All Auto Totals And Proposes $7.5 Billion For EV Charging Stations, But Gas Stations And Convenience Stores Can’t See Spending $100,000 For Each EV ‘Fast Chargers’; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Plans Focus On Its EV Charging Station Division.
Tesla owns 56% of the electric charging market. Proving that electric cars manufacturing can be profitable — supported by the largest EV Charging Station network globally — Tesla (NASDAQ: TSLA) outperformed analysts’ predictions recently by delivering Q2 volume of $12 billion and a profit of $1.1 billion. Wall Street investors are warming to the EV Charging Station industry.
Electric car sales in the U.S. are soaring, more than doubling in the 1st 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. As more EV Charging Stations appear, range anxiety is becoming less of a barrier to electric car sales in the U.S. America is lagging behind Europe and China in warming to EV vehicles.
EV Charging Stations —- especially fast charging stations — are a key factor in driving electric vehicle sales. As drivers become more confident in the range and charging ability of EV cars, they appear to like the new technology, ease of maintenance and social positives of non carbon-emitting transportation. Electric car sales for the first time topped out last 3% of total U.S. auto sales in the first half of 2021 — the first time it has been that large. It has held at 2% of U.S. auto sales in the past, but is now reaching 3%, industry figures show.
Wall Street investors are beginning to see the potential of the EV Charging Station business, supporting American longer road trips and daily driving routines. Range-anxiety was seen as holding back electric vehicle sales. Tesla (NASDAQ: TSLA) delivered more than a half a million vehicles last year and plans to exceed that number by more than 50% this year, the company said.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
