General Motors (NYSE: GM) Jumps The Gun By Beginning Production Early Of Its 2023 Cadillac LYRIQ Electric Car; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth Of EV Charging Stations Industry
General Motors (NYSE: GM) is getting an early jump on competitors by beginning production of its 2023 Cadillac LYRIQ all-electric vehicle in its Spring Hill, Tennessee plant. VIPs, construction leaders and design innovators were wowed by the new vehicle — seen as an early and outstanding electric luxury vehicle getting a nine months early start off the assembly line. Solar Integrated Roofing Corp.(OTC PINK: SIRC) is confident in the growth of the EV Charging Stations industry.
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) Jumps The Gun By Beginning Production Early Of Its 2023 Cadillac LYRIQ Electric Car; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth Of EV Charging Stations Industry
The Cadillac LYRIQ got a nine-month jump-start in its early production launch. According to one report, GM’s president said the all-electric vehicle received the highest reviews for design of any vehicle tested in GM’s history.
Politicians such as Tennessee Gov. Bill Lee gushed about it. With one eye on the fully employed assembly plant and another on the LYRIQ itself, he called it a ‘sweet car.’
Spring Hill, Tenn., is one of three GM car plants dedicated to assembling all-electric vehicles. That plant received a $2 billion renovation to prepare for electric vehicle production. The renovations were completed early, enabling GM to begin producing the Cadillac LYRIQ nine months ahead of schedule.
Mark Reuss, GM president, said, “We retooled Spring Hill Assembly with the best, most advanced technology in the world and the team worked tirelessly to complete the preparations nine months ahead of the original schedule.” General Motors (NYSE: GM) Jumps The Gun By Beginning Production Early Of Its 2023 Cadillac LYRIQ Electric Car; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth Of EV Charging Stations Industry.
It is the company’s largest plant and has assembled some 200,000 vehicles annually. It has produced more than 4.5 million vehicles since its doors opened in 1990, GM said.
To SIRC, EV Charging Stations is a vast opportunity for itself. Here’s why:
- We may be talking about $10 gallon gas in the near future. It has already surpassed $7 in numerous markets, particularly California. Anything is possible.
- Federal tailwinds include tax rebates, grants and funding of electric cars and EV Charging Station initiatives of some $5 billion.
- SIRC itself is an applicant for $80,000 in federal grants to be part of building and installing the EV Charging Station network nationally.
As a part of its own transition, SIRC announced recently it signed an LOI to acquire three complementary LA-based EV Charging Installers with $100 million annually in the sales pipeline. David Massey, founder and CEO of SIRC, says it means an annualized sales run rate of $400+ million. SIRC is refocusing its efforts wisely to capitalize on the EV Charging opportunity.
SIRC seeks to become the dominant nationwide player in the projected $28.4 billion by 2028 EV Charging Station industry.
The hike in gas prices could mean a greater rush to all-electric vehicles, raising its percentage of the U.S. new car OEM demographic from 4% today to perhaps 20% just a few years from now.
One reason is that OEM car makers are rushing electric models to market. These include familiar brands such as General Motors (NYSE: GM) and Ford (NYSE: F) to luxury brands from BMW and Mercedes. Even exotic names such as Alfa Romeo are competing. Even familiar brands such as Honda and Sony are teaming up to produce a new electric vehicle by 2025.
To an American consumer who may want to buy another gasoline-powered car, time may be running out. Even the brands he/she knows will be available in electric power only. General Motors (NYSE: GM) Jumps The Gun By Beginning Production Early Of Its 2023 Cadillac LYRIQ Electric Car; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth Of EV Charging Stations Industry.
As the U.S. seeks to buy more oil from Saudi Arabia, Iran, Venezuela and other actors, it ignores the energy it has at home. If that is the case, SIRC would be properly re-focused on installing EV Charging Stations in the US.
David Massey, founder and CEO of SIRC, says, “Electric vehicle charging is the next massive opportunity in our market, and this calculated alignment of our near-term focus will help to position SIRC as a clear national player in this space. The expanding EV charging market is being driven by the rapid adoption of electric vehicles nationwide — for example, the U.S. Energy Information Administration predicts there will be 7.5 million EVs on American roads by 2025.”
Massey adds, “To meet this expected surge in demand, just last week the Biden administration announced a plan to allocate $5 billion to states to fund electric vehicle chargers over five years as part of the bipartisan infrastructure package. This creates an absolutely immense opportunity for our family of companies nationwide.
Grand View Research reports that the U.S. electric vehicle charging infrastructure market size will increase from $2.1 billion in 2020 to $28.4 billion in 2028, a compound annual growth rate of 38.9%. With our proven success in solar, the EV charging market is opening the door for our company to capture dual-industry, synergistic avenues of growth.”
In addition, Massey says, “We are currently leveraging our vast network of nationwide installers to ramp sales efforts and capitalize on the exponential increase in demand. As of today, we have over $20.2 million in EV charging projects in our backlog with a further $30 million in the pipeline.”
General Motors (NYSE: GM) Jumps The Gun By Beginning Production Early Of Its 2023 Cadillac LYRIQ Electric Car; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth Of EV Charging Stations Industry.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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