General Motors (NYSE: GM) Is Ready To Report 1Q Financials After Close Today And Analysts Expect 14% Higher Volume Of $37.33 Billion And 25% Profit Slide As GM Pins Hopes On Future Of Electric Cars; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Subsidiary See Increased EV Charging Station Demand

Posted April 26, 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: GM, NYSE: SPRQ, OTC PINK: SIRC

General Motors (NYSE: GM) is expected to report after close today 14% high volume of $37.33 billion on a 25% profit slide to $1.68 EPS as it pins its hopes on future electric car sales. It has even cut its dividend payments to invest money in new plants, marketing and EV Car Design. It only sold 457 EVs in Q1 — but has goals of 300,000 EV deliveries in 2023. Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. subsidiary are hoping GM realizes its EV production and sales goals and created more demand for SIRC’s EV Charging Station business.

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).

General Motors (NYSE: GM) Is Ready To Report 1Q Financials After Close Today And Analysts Expect 14% Higher Volume Of $37.33 Billion And 25% Profit Slide As GM Pins Hopes On Future Of Electric Cars; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Subsidiary PLEMCo. Subsidiary See Increased EV Charging Station Demand

General Motors (NYSE: GM) is tied to its Bolt early EV Vehicle — it needs to cut those apron strings and begin delivering all-electric EVs, like the Hummer and Lyriq SUV model.

In a move that will boom 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.

Mary Barra, GM CEO, knows that the company is under global pressure to build and sell (deliver) more electric vehicles in the next couple of years. GM, she said, is now looking to build its third electric truck plant. GM is now only chasing electric market leader Tesla (NASDAQ: TSLA), it is all-in on the electric vehicle business model.

“We also recognize that we ned to launch more EVs faster,” Barra told investors on a recent earnings call. “So that’s exactly what we are going to do.” Her total vision for an EV sales total is 300,000 in 2023 and some 400,000 in the next two years.”

To that end, it will continue to suspend its dividend payments to shareholders and used that funding, instead, to pay for its investment in electric vehicle production ,infrastructure and marketing. Sales for GM rose a modest 3.7% last year, she said, as chip shortages and supply chain delays cost the Company sales late in the year. Its Q4 income dropped 39%, she added. But its guidance for 2022 is profit in the range of $9.4-$10.8 billion.

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. Maybe that projection is too little in the context of all-in electric vehicle production efforts.

SIRC’s advantage is that its installers are already performing solar work in the home — where some 80% of EV charging takes place, the government says. But it is also watching partnership agreements between EV Charging Station companies and OEM electric car makers and other retailers allied to the field — such as Bridgestone-owned Firestone aftermarket auto repair/tire centers.

As potential electric vehicle buyers see more EV Charging Stations on the road and in high profile charging locations near auto dealerships, prominent retail stores and even tire dealerships, their range anxiety fears will be addressed — and these potential buyers will want to try electric vehicles.

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.

Jessica Caldwell, executive director of Insights at researcher Edmunds, adds, “You’re asking consumers to adapt to a whole different thing. It’s not that they go to a different type of gas station. They have to plan out their route, they have to figure out if they want to install a charger in their home.”

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

Source: Stock Market Press

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Nitin Harlalka

Nitin Harlalka is a Stock Market Press contributor who has covered financial market for close a decade. With a graduate degree in Economics, Nitin has been a freelance stock market and business journalist for a range of publications. Most recently, he has covered emerging industries such as cannabis and blockchain.