Foxconn Could Be Hidden Gem In Electric Car OEM Market, But Company Is Also Apple (NASDAQ: AAPL) iPhone Supplier Caught In Supply Chain Crunch, Shuts Shenzhen, China Plant; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees OEM Electric Car Boom

Posted March 15, 2022

In NASDAQ: AAPL, NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: RIDE, 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

Foxconn is positioned as a hidden gem in the electric car OEM space, but also as an Apple (NASDAQ: AAPL) iPhone supplier it is in a difficult supply chain quagmire as its plant in Shenzhen, China, has been closed. Foxconn is unusual in the electric car market because it expects to begin production of vehicles in partnership with troubled Lordstown Motor Corp. (NASDAQ: RIDE) perhaps in Q3 of 2022. To Solar Integrated Roofing Corp. (OTC PINK: SIRC), OEM Electric Cs are seen booming as are the industry it is in: 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), 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).

Foxconn Could Be Hidden Gem In Electric Car OEM Market, But Company Is Also Apple (NASDAQ: AAPL) iPhone Supplier Caught In Supply Chain Crunch, Shuts Shenzhen, China Plant; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees OEM Electric Car Boom

Over the past month, Lordstown (NASDAQ: RIDE) stock has tanked, closing last evening in after hours trading at $2.15. It had reached $7.36 last September 15. It is now 87% off its 52-week high. It plans to market its Endurance, an electric pickup truck. It doesn’t help that its largest shareholder and ex-CEO has sold more than five million shares after he conceded that the Company misled investors about pre-orders on vehicle deliveries.

Foxconn remains an intriguing player in the electric car industry. As an Apple (NASDAQ: AAPL) iPhone supplier, it has shut its factory in Shenzhen after another COVID-breakout. But it plans to enter electric car production with three new prototype electric vehicles. They are an SUV, sedan and a bus.

Foxconn acknowledges that it knows nothing about building cars, but it does know via. Apple iPhones how to build designed tech products from others when given the components. So here’s what makes it interesting in electric cars: it plans to custom build EVs for other branded OEM car makers in Europe.

So the vehicle will be shown as a well known European brand to the consumer — but it was really built by Foxconn. Now that’s unique. When consumers learn the car was really built by the maker of iPhones all will be OK…. Foxconn hopes. Foxconn Could Be Hidden Gem In Electric Car OEM Market, But Company Is Also Apple (NASDAQ: AAPL) iPhone Supplier Caught In Supply Chain Crunch, Shuts Shenzhen, China Plant; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees OEM Electric Car Boom.

Management is already scouting for more plants in the Mideast and other exotic locales. It is also talking to European upscale brands about building exclusive electric cars for them. That is what makes them special.

To SIRC, the success of electric cars — regardless of who builds them for another brand — means success in the EV Charging Station space. SIRC is already in the EV Charging Station industry through its subsidiary, PLEMCo. Now it has signed an LOI to acquire three other LA-based complementary EV Charging Station companies with a large sales pipeline, according to David Massey, SIRC CEO.

Foxconn is definitely going its own special way in the electric car industry. It can build EVs for itself or for others under their brand names. Foxconn has proved it can manufacture precise iPhones for Apple (NASDAQ: AAPL) in its own factory, now temporarily closed in China.

The OEM electric car industry is in its earlier stages. Consumers really don’t know the brands yet, with the possible exclusion of Tesla (NASDAQ: TSLA). So Foxconn has really no reputation — good or bad — as an electric carmaker. Consumers do not even aware of its partnership with Lordstown.

However, consumers are very aware of Apple’s iPhone quality and that reflect well as Foxconn builds them. If they build an Apple iPhone that will go a long way in building their reputation with American buyers

SIRC sees the electric car activity as a sign that its supporting role in the EV Charging Station business behind OEM electric vehicles — including everyone but Tesla (NASDAQ: TSLA) — is a large opportunity. Foxconn Could Be Hidden Gem In Electric Car OEM Market, But Company Is Also Apple (NASDAQ: AAPL) iPhone Supplier Caught In Supply Chain Crunch, Shuts Shenzhen, China Plant; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees OEM Electric Car Boom.

SIRC is watching the mind-bending sales, market share and profit performance of Tesla (NASDAQ: TSLA) with a keen eye on the EV Charging Station aftermarket that offers sweet profit margins. Although Tesla’s chargers are proprietary to Tesla vehicles only, PLEMCo., would benefit by charging vehicles for other brands, including: General Motors (NYSE: GM), Ford (NYSE: F), Toyota (NYSE: TM) plus other domestic brands and off-shore OEM car companies.

Further, OEM car makers are watching as Tesla (NASDAQ: TSLA) sets new records for efficiency. It reported a cost efficiencyy figure of 29.3% last year vs. 25.6%. This is a closely watch figure in the automotive industry and reflects a no-fat industrial performance in the face of supply chain shortages and delays. Kudos to Tesla. Part of that efficiency is non-dealer sales.

At just 4% of the U.S. new car population, electric vehicles are still in their infancy. It remains a wide-open field for car makers a well as EV Charging Station installers. While other automakers exhibited only tepid manufacturing in 2021, Tesla (NASDAQ: TSLA) soared. Its record profit and sales numbers showed that.

America car buyers will soon not have much choice but to buy anything but electric vehicles. 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.

SIRC’s PLEMCo., can play a major role in the sweetest profit spot of all — the EV Charging Industry that will support it all. Biden’s $1.2 trillion pending law with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations.

That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. subsidiary.

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 and solar alternative energy business.

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

Source: Stock Market Press

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Shannon Roxborough

Shannon Roxborough is SMP's senior contributor writer. A financial journalist for more than 20 years, he has covered U.S. and global markets across all sectors. A former correspondent with Money magazine and columnist with Small Cap Investor, his writings have appeared in The Wall Street Journal and numerous other financial publications.