BMW CEO Oliver Zipse Warns Automakers Not To Go All-In On Electric Cars Be-cause A Large Market Remains For Combustion Engines As He Advocates A More Gradual Transition From Gasoline-Powered Cars To All-Electric; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Its PLEMCo. Subsidiary See A Boom In EV Charging Station Demand As Electric Cars Grow

Posted April 18, 2022

In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NASDAQ:CSIQ, NYSE: CHPT, NYSE: F, NYSE: GM, NYSE: SPRQ, NYSE: TM, OTC PINK: SIRC

BMW CEO Oliver Zipse this weekend warned automakers not to go all-in on electric cars, abandoning gasoline-powered vehicles, but instead participate in a more gradual transition away from combustible engine cars to electric. BMW, like other major European brands such as Mercedes and Volkswagen, clearly see the trend to electric vehicles. But he perceives a continuing demand for combustion engine autos — not just for electric-only vehicles. His comments came at a NY Auto Show related roundtable this weekend in New York. Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Its PLEMCo. Subsidiary See A Boom In EV Charging Station Demand As Electric Cars Grow.

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).

BMW CEO Oliver Zipse Warns Automakers Not To Go All-In On Electric Cars Because A Large Market Remains For Combustion Engines As He Advocates A More Gradual Transition From Gasoline-Powered Cars To All-Electric; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Its PLEMCo. Subsidiary See A Boom In EV Charging Station Demand As Electric Cars Grow

In both Europe and the US BMW is seen as a prestigious upscale brand. In turn, BMW views the aggressive moves by the auto industry to all-electric model lines as perhaps too singular against carbon emitting combustion engines. Zipse said at the roundtable he favors an easing of the electric-only strategy. “If you are not selling combustion engines anymore, someone else will,” he argued.

Charging infrastructure gaps and the high prices cow of electric cars are important issues which must be addressed before combustion engines are dropped by the industry altogether, he added.

Electric cars drew the most interest at the NY Automotive Show this year, especially as consumers are motivated to get away from gasoline prices that have soared over the $4 per gallon mark. One editor at Cox, which publishes automotive magazines, said the publications have seen a 69% jump in electric car interest from January-March 2022 as drivers want to avoid paying spiking per gallon gasoline fuel charges.

Reuters says the automotive magazine editors say consumers do not want to ‘burn down their entire budgets on gasoline.’

At the NY Automotive Show, EVs dominated consumer interest and professional analysts’ views. BMW CEO Oliver Zipse Warns Automakers Not To Go All-In On Electric Cars Because A Large Market Remains For Combustion Engines As He Advocates A More Gradual Transition From Gasoline-Powered Cars To All-Electric; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Its PLEMCo. Subsidiary See A Boom In EV Charging Station Demand As Electric Cars Grow

Although consumers said they are motivated by environmental issues — such as a green, clean environment — financial issues are also important. They want electric cars because they wish to save money from spiraling higher gasoline prices, Reuters says.

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.

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.”

To SIRC the fact that electric vehicles come in so many brands and price points is a positive industry sector for the future. And the fact that the leader in the EV Charing Industry classifications is serving only Tesla vehicles also bodes well for SIRC’s future n the charing industry. Tesla may own 56% market share of the worldwide electric charging station business, but it may be leaving a lot of business ‘on the table’ by serving Tesla alone. For SIRC and other charge installers, this leaves a wide open market for the other brands.

They include 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 last to join electric car believers.

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. And this may be too conservative.

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 $80 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.

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.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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Ruchika Gupta

Ruchika Gupta is a writer for Stock Market Press, covering technology, energy, cannabis, finance, biotech and industrials, among other sectors. She holds a maters's degree in English and produces financial and business content for a range of media outlets.