General Motors (NYSE: GM) Aims To Be Dominant Player In EV Vehicles Committing $35 Billion Including Building Two New U.S. Ultium Battery Plants; Move Could Lift Entire EV Category; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Active In Home And Commercial EV Charging Station Space
General Motors (GM: NYSE) is upping the ante to $35 billion for electric cars, autonomous vehicles and domestic battery production through 2025. It also plans to build two new Ultium battery plants in the U.S. and has raised its fiscal guidance for 1H21 EBIT to the range of $8.5-$9.5B. General Motors (GM: NYSE) is aiming to be the top player by developing its own proprietary battery platform, Ultium. For GM that amounts to a 30% hike over the target amount it set late last year. For an EV vehicle business which now represents less than 2% of the global vehicle market — and projected to be only 10%+ by 2025 — GM is making a large spending effort on electric and autonomous cars and batteries.
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), Ford (NYSE: F), 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).
General Motors (NYSE: GM) Aims To Be Dominant Player In EV Vehicles Committing $35 Billion Including Building Two New U.S. Ultium Battery Plants; Move Could Lift Entire EV Category; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Active In Home And Commercial EV Charging Station Space
GM (NYSE: GM) has learned its lesson in vehicle shortages due to overseas inadequate supplies of computer chips for its cars. Inventory suffered and supply chains experienced difficulty — so GM is now planning to manage its own needs by building its own domestic EV vehicle factories and dedicated Ultium battery production facilities in the U.S. Mary Barra, Chair and CEO of GM, said the company is working to “scale faster” to attain its goal of $1 million+ in global EV sales by 2025.
GM is placing a large bet on EV, EV Charging Stations and its own battery plants. General Motors (NYSE: GM) Aims To Be Dominant Player In EV Vehicles Committing $35 Billion Including Building Two New U.S. Ultium Battery Plants; Move Could Lift Entire EV Category; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Active In Home And Commercial EV Charging Station Space.
Ford (NYSE: F) is raising its own dollar commitment to EV through the middle of the decade by about one-third to $30 billion by 2025. It expects its Lincoln brand to be fully electric within four years, according to The Wall Street Journal. Recently, Sunrun (NASDAQ: RUN) was selected by Ford (NYSE: F) for a critical role to protect its No. 1-selling pickup truck F-150. The model is top-seller in the gas model, now it is moving to the all electric F-150 model — the Lightning — and is expected to begin deliveries in mid-2022. It already has record high pre-delivery orders, Ford said.
The alliance will offer customers a seamless installation of Ford Charge Station Pro and Home Integration System for the all-electric F-150 Lightning pickup truck. To Sunrun (NASDAQ: RUN), it offers a chance to also sell solar and rechargeable batteries to all of Ford’s F-150 Lightning customers because it is already working at their residences.
A new analysis by Morgan Stanley fueled Sunrun’s stock spike. The first day this week after the Morgan Stanley announcement, Sunrun (NASDAQ: RUN) stock grew 10%+ and yesterday and last night it rose again 9%+ higher and closed in after-hours trading at $52.16.
That jump could raise the entire residential solar and EV Charging Market categories. Morgan Stanley analyst Steven Byrd in reiterating his ‘overweight’ rating on the company cited its growth opportunity in the renewable energy field with low financing costs for buyers as well as the reliability of its energy in states, such as California and Texas, where central grids have been uneven in delivering energy to customers. Its analysis also sees Sunrun (NASDAQ: RUN) stock shares doubling. General Motors (NYSE: GM) Aims To Be Dominant Player In EV Vehicles Committing $35 Billion Including Building Two New U.S. Ultimium Battery Plants; Move Could Lift Entire EV Category; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Active In Home And Commercial EV Charging Station Space.
The Ford-Sunrun strategic partnership is designed to give consumers/drivers more confidence they can find a charging station when they travel longer distances. President Biden sees 500,000 charging units serving a fleet of EV vehicles in public spaces. Word now from the U.S. Transportation Department is that $100 billion of that $2.3 trillion infrastructure money will be used to fund new rebates for all-electric, zero-emission cars, including $15 billion for more electric charging stations.
The Federal government’s Biden administration is seeking $15 billion for more EV Charging Stations to install 500,000 units, including grants and incentive program. Biden envisions a fleet of some 600,000 federally-owned EV electric vehicles. General Motors (NYSE: GM) Aims To Be Dominant Player In EV Vehicles Committing $35 Billion Including Building Two New U.S. Ultimium Battery Plants; Move Could Lift Entire EV Category; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Active In Home And Commercial EV Charging Station Space.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees similar potential in the EV Charging Station market as Sunrun (NASDAQ: RUN)
Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees similar potential in the EV Charging Station market as Sunrun (NASDAQ: RUN) — especially now as OEM automakers make multi-billion dollar commitments to the category. SIRC is already active in the EV Charging Station space, having acquired Pacific Lighting Management Co., or PLEMCo., for its dedicated EV Charging Station division.
SIRC is already looking at more potential EV Charging Station target companies for future takeovers, according to David Massey, CEO of SIRC. Massey said, “Getting into EV charging was a really big move for us.” Learn more about Pacific Lighting at http://www.pacltg.com/
SIRC has applied for a Department of Energy (DOE) $20-$40 million grant, it said. Massey said, “We recently applied for a Department of Energy grant, which could provide between $20-$40 million in funding to help support the build-out of dedicated electric vehicle (EV) charging solutions nationwide through our various operating brands.”
SIRC is focused on the green energy sector. SIRC earlier acquired solar installer Enerev LLC. SIRC also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 100% owned by Ideanomics (NASDAQ: IDEX) and Solectrac is an applicant for a $500 million USTDA grant. Ideanomics closed on all of the remaining Solectrac stock last week, leading some Wall Street investors to speculate whether this EV-focused company will make Solar Integrated Roofing Corp. (OTC PINK: SIRC) its next acquisition target.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is an attractive target because it is already in the EV space and has an agreement in place with Solectrac to supply solar panels and related equipment. SIRC this week reported sharply higher volume of 187% to $17.1 million for its FY 2021 ended February 28, 2021. That compares to $9.1 million the prior year. Gross profits increased by 144% for the 2021FY To $3.5 million. SIRC continued its acquisition spree during the year and reaffirmed its guidance figure of at least $100 million in sales in the 12 months ended May 31, 2022. It also said it “expects” to reach profitability in FY 2022.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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