Electric Makers Rivian Automotive and Mercedes-Benz Postpone Tie-Up Negotiations, Demonstrating How Global Economy And Capital Markets Can Impact EV Vehicle Market; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Remains Bullish On Car Charging Opportunity
Electric van makers Rivian Automotive (NASDAQ: RIVN) and Mercedes-Benz have postponed their tie-up negotiations, demonstrating how the movements in the global economy and capital markets can impact the EV vehicle market; Solar Integrated Roofing Corp. (OTC PINK: SIRC) through its PLEMCo. subsidiary remains bullish on the car charging opportunity.
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).
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. Other researchers are even more aggressive in their predictions for EV charging stations. While EV makers of cars, vans and trucks battle logistics bottlenecks, raw material price hikes and other impediments, the auto industry — and companies such as SIRC — remain positive on the success of electric charging stations.
Rivian Automotive and Mercedes-Benz were talking about teaming up in electric vehicle van production, even building a dedicated plant in Europe to produce them together. Rivian said it would be willing to pursue a joint venture plan with Mercedes-Benz in the future. Currently, it is not meeting its own production goals and laid off some 6% of its staff this summer at its Illinois plant.
Meanwhile, Mercedes-Benz tells the WSJ that it would go it alone with a slightly smaller new plant dedicated to EV van production in Poland. In that facility, the Company plans to build large electric vans, it says.
A confluence of events will place what is now only a 4% market share for EVs in the U.S. on the road to domination over gas-powered vehicles. For installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. subsidiary, the growth in EVs and EV Charging Stations can continue to grow.
- 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 worldwide can be done at a profit. Despite political issues, logistics shortfalls and price hikes on raw materials, Tesla is successfully creating a known brand in both EVs and charging stations.
- Wall Street investors who missed the Tesla (NASDAQ: TSLA) initial gold mine, now may want in. Rivian’s (NASDAQ: RIVN) IPO was successful, and many investors are still watching results — despite the headwinds.
- Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and the European brands, such as BMW and Volkswagen — remain fully committed to all-electric vehicle fleets. That means more roadside car chargers are needed.
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 significant news for installers like SIRC and its PLEMCo. subsidiary.
Source: Stock Market Press
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