Cost Of Ford Motor Co. (NYSE: F) Going All-In On Electric Vehicles In Europe Is $2 Billion; Company Plans On Seven All-Electric Models Built In Europe By 2024; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On EV Charging Station Business
Tesla (NASDAQ: TSLA) is looking for German sites for its next electric car/truck OEM plant, but Ford (NYSE: F) has already decided to go all in within Europe. It has budgeted $2 billion for its all-in strategy for EVs in Europe. It plans to debut seven new models there — all built in Europe. To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the move only reinforces its decision to refocus on the U.S. EV Charging Station business supporting electric cars/trucks.
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).
Cost Of Ford Motor Co. (NYSE: F) Going All-In On Electric Vehicles In Europe Is $2 Billion; Company Plans On Seven All-Electric Models Built In Europe By 2024; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On EV Charging Station Business
Ford (NYSE: F) believes its electric car/truck EV business will be so significant that it has already set in motion plans to establish a separate ‘e’ divison to segment all-electric vehicles from its legacy gas-powered vehicles. In addition, F is managing a special shake up in the way its electric vehicles are marketed.
They will ordered at a fixed price online by consumers and delivered only at the their local dealerships — with no investors on dealer lots. In other words, local dealerships will be cut out of the loop.
The business model is tailored to the Tesla (NASDAQ: TSLA) strategy of pop-up stores in malls rather than fully-flung dealerships with commission salespeople negotiating final prices.
In Europe, now Ford (NYSE: F) has readied $2 billion for model creating, production and marketing for electric cars/trucks actually built in Europe.
Stuart Rowley, president of Ford’s European business division, says, “Our path towards a fully electric future is an absolute necessity for Ford to meet the changing mobility needs of our customers in Europe.”
Plans are for Ford’s first all-electric car to go into production in Cologne in next year. It will be a sport crossover model with a planned range of 500 kilometers or 311 miles. Ford provided no futher details, but a second EV is already being planned for production at that plant.
Ford licenses the technology it would use to build them from Volkswagen AG. Ford also plans to build more electric cars in Romania and source batteries from Turkey. More joint ventures may be on the way, Rowley said.
To SIRC, all this bodes well for its devision to refocus its business plan to concentrate on EV Charging Stations. At the end of the day, fleet and consumer purchasers of electric Ford vehicles will want to use conventional EV Charging Stations. Although a greater number of OEM electric vehicle manufacturers will want to use their own charging equipment, SIRC is betting on the increasing role it can play in the soaring EV Charging Station industry.
SIRC may be planning to grow EV Charging Stations today in the U.S. only, but marketing plans can change — and the international market may ope even wider in Europe to more players in the important EV Charging Station industry. Cost Of Ford Motor Co. (NYSE: F) Going All-In On Electric Vehicles In Europe Is $2 Billion; Company Plans On Seven All-Electric Models Built In Europe By 2024; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On EV Charging Station Business.
SIRC has already made the decision about the growing importance of EV Charging Stations. With numbers predicting five million EVs in California alone within a decade. EV Charging Stations will grow exponentially. SIRC sees the opportunity for this alternative energy industry and wants to make itself a brand with a national footprint as it grows.
To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the heightened awareness, reporting structure and model launches in electric vehicles only brings a higher profile to supporting EV Charging Stations. SIRC not only competes in that industry through its PLEMCo., subsidiary, it has also recently announced it has signed an LOI to acquire three LA-based complementary EV Charging Station companies in that industry, as well.
Also new is that Ford (NYSE: F) has opened a new segment internally — the’ e’ division away from its legacy car business complete with its own P&L to house its now unprofitable but fast-growing electric car business. Currently, ‘e’ produces the Mustang Mach-E and F-150 Lightning pickup truck. It will be a lucrative business: Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights.
In addition to consumer customers, Ford sees the opportunity to sell electric models to its multi-unit ‘fleet’ customers. Ford’s fleet customers can then choose whether to have Ford (NYSE: F) endorsed partner install the charging station —- or the customer can do it by itself. The choice belongs to the customer. But Ford wants their fleet buyers to know the Company is there to offer assistance and charging equipment.
When the Ford-150 model is launched in the Spring, the company will offer a standard a Ford Mobile Charger. For longer-range vehicles, Ford will also offer options for additional charging station accessories free with the vehicle.
Muffin Ghadiali, Ford Pro Charging general manager, says, “ Regardless of the size of their business or the industry they are in, we’ll help them plan their charging infrastructure — whether it’s installing home chargers for employees or developing a large scale depot system — to make the transition to electric seamless.”
A move to separate electric car operations from its legacy business would give Ford greater access to the capital markets through ‘e’, which have been generous in valuing Tesla (NASDAQ: TSLA). Cost Of Ford Motor Co. (NYSE: F) Going All-In On Electric Vehicles In Europe Is $2 Billion; Company Plans On Seven All-Electric Models Built In Europe By 2024; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On EV Charging Station Business.
Ford Motor (NYSE: F) reported a record-breaking net profit of $17.9 billion for 2021 — yet roughly half of that profit was a paper gain made on Ford’s equity in the successful Rivian Automotive (NASDAQ: RIVN) electric car IPO last Fall.
Meanwhile, in a move that will soon drive demand for EV Charging Stations in North America, General Motors (NYSE: GM) has now raised its sales target for electric vehicles to 400,000 in North America in 2022-2023 compared to only 25,000 Bolt models sold last year. If the target sales are met, it could mean a spectacular opportunity for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. Subsidiary that builds EV Charging Stations.
Ford (NYSE: F) is forecasting higher profits for next year. Its primary advantage is that its Lightning electric version of its best selling 150-pickup truck is sold out in advance and will launch far prior to the debut of GM’s electric version Silverado.
As Ford and GM go toe-to-toe, SIRC’s PLEMCo., is well positioned to install EV Charging Stations for either or both OEM electric car/truck makers. In short, SIRC wins no matter which OEM company becomes an industry leader.
Cost Of Ford Motor Co. (NYSE: F) Going All-In On Electric Vehicles In Europe Is $2 Billion; Company Plans On Seven All-Electric Models Built In Europe By 2024; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Refocuses On EV Charging Station Business.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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