GM (NYSE: GM) Is Investing $27 Billion In Electric Cars And Plans To Build 2,700 Fast Charging Stations Nationwide By 2026; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) New Dedicated EV Charging Solutions Division Interviewing Existing EV Charging Firms For Acquisition
As GM (NYSE: GM) is investing $27 Billion into its Electric Cars program it plans to build 2,700 Fast Charging Stations nationwide in five years — triple the size of America’s largest fast charging network, it says. GM also plans to debut 30 new models of electric cars by 2025 and reach 100% of all-electric decarbonization by 2035 — dovetailing with the year of California’s new car non-emissions mandate. Meantime, Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) newly launched dedicated EV Charging Solutions Division is interviewing-for-acquisition EV Charging Firms in New Jersey, Colorado and California.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing 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), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).
GM (NYSE: GM) Is Investing $27 Billion In Electric Cars And Plans To Build 2,700 Fast Charging Stations Nationwide By 2026; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) New Dedicated EV Charging Solutions Division Interviewing Existing EV Charging Firms For Acquisition
SIRC’s CEO and President, David Massey and Brian Milholland, respectively, told Money TV’s host Donald Baillargeon that SIRC was seeking a quick start in the EV Charging Station industry by seeking to acquire a ready-operating company with clients and engineering already in place for a fast running start. Massey said he is already interviewing potential acquisition targets in three states. Tesla (NASDAQ: TSLA) is already in this space and GM (NYSE: GM) has already announced its plans to do so. SIRC is entering an exciting new growth opportunity, its two top executives said.
GM’s Plans For Electric Charging Stations
Mary Barra, chairman and CEO of GM (NYSE: GM), has been gung ho on electric cars and electric vehicle charging stations — primarily after the election of the clean energy Biden administration. By announcing the building of 2,700 new EV battery charging stations within five years, GM is acknowledging its electric vehicle goal and the issues it is facing with American drivers concerned about mileage-limitations on a single charge and the time it takes to re-charge electric vehicles while on the road. New battery technology and fast-charing stations are designed to address those issues.
Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Planned Quick Entry In EV Charging Stations
Recently, SIRC announced the official commencement of operations of its new dedicated EV Charger solutions division and a focus on potential takeover targets of EV charger installers nationwide. SIRC is already a Tesla (NASDAQ: TSLA) certified solar installer. Now both Tesla and SIRC are in the EV charger business. Brian Milholland, president of SIRC, clarified that his Company is in a hurry to get operational in the business. To that end, David Massey, CEO, said he is already interviewing-for-acquisition EV charging firms in New Jersey, Colorado and California.
SIRC Sets Sights On EV Charging Business Industry
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is entering the EV charger installation market focusing on sales, marketing, installation and service of personal EV chargers — as well as on public EV charging infrastructure for network operators. To grow quickly in this industry, SIRC is seeking the potential acquisition of EV charger installers nationwide. SIRC has already demonstrated its ability to acquire adjacent companies as it grows. The most recent was last week’s close on its purchase of established solar installer Enerev LLC. David Massey, CEO of SIRC, noted the complementary nature of Enerev LLC as it joined the Solar Integrated Roofing Corp. (OTC PINK: SIRC) family.
David Massey, SIRC CEO, Sees Acquisitions Ahead
David Massey, CEO Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, “We are excited to have entered the substantial, growing EV charging space — addressing an incredible rapidly growing market opportunity. We are well positioned to acquire promising EV charger installers in key growth markets across the U.S. where early EV adoption has been greatest.” In a TV interview, he said he is already interviewing potential takeover targets in the EV charging space in New Jersey, Colorado and the company’s home state of California.
Brain Milholland, SIRC preside, told Money TV’s host Donald Baillargeon that the Company wants a fast entry into the EV Charging sector by acquiring existing firms that already have client lists and engineering in place. SIRC is already a certified installer of Tesla’s (NASDAQ: TSLA) Powerwall solar rechargeable battery system. Now, SIRC and Tesla are also in the EV Charging Station industry. (NYSE: GM) Is Investing $27 Billion In Electric Cars And Plans To Build 2,700 Fast Charging Stations Nationwide By 2026; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) New Dedicated EV Charging Solutions Division Interviewing Existing EV Charging Firms For Acquisition.
Clean Energy A Priority For Solar Integrated Roofing Corp. (OTC PINK: SIRC)
SIRC is committed to solar and other clean energy adjacent sectors. The Company recently acquired solar company Enerev LLC, entered a new alliance with San Diego builders to enter the new home business in that market. It also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 24% owned by Ideanomics (NASDAQ: IDEX). and Solectrac is an applicant for a $500 million USTDA grant. Tesla, Inc. (NASDAQ: TSLA) has elevated Solar Integrated Roofing Corp. (OTC PINK: SIRC) To Certified Installer Status.
SIRC Sees Positive Legislative Tailwinds In California And Nationally For Renewable Energy
With the election of the Biden-Harris team, SIRC — like other solar companies — sees positive legislation for renewable energy. California has already passed statewide mandates for solar in new residence 2020 and beyond. It has also set a 2035 deadline for all new cars to have zero-carbon emissions. Both set the stage for increased demand for solar and for electric vehicle charging stations. GM (NYSE: GM) Is Investing $27 Billion In Electric Cars And Plans To Build 2,700 Fast Charging Stations Nationwide By 2026; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) New Dedicated EV Charging Solutions Division Interviewing Existing EV Charging Firms For Acquisition.
Precedence Research Sees The EV Charging Industry Reaching $39 Billion By 2027
As electric vehicles skyrocket in growth, analysts published an industry forecast that EV charging stations will reach $39 billion by 2027, according to Precedence Research. The report finds that the industry will grow fast at a 40.7% CAGR rate from 2020-2027. Tesla (NASDAQ: TSLA) and Solar Integrated Roofing Corp. (OTC PINK: SIRC) are already in the industry. GM (NYSE: GM) Is Investing $27 Billion In Electric Cars And Plans To Build 2,700 Fast Charging Stations Nationwide By 2026; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) New Dedicated EV Charging Solutions Division Interviewing Existing EV Charging Firms For Acquisition.
SIRC Is Growing And Goldman Report Sees A Bright Outlook For Its Stock
Goldman Small Cap Research in a analysis report explained that SIRC’s stock still has a lot to gain in valuation metric. “Thus, we believe that these shares (SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family,” it concluded. Goldman Small Cap Research in the January report tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months. But SIRC’s stock has already eclipsed that — trading at yesterday’s close at $2.36, SIRC’s stock performance has already made those projections obsolete.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says It Will Reach $40 Million In FY 2022
Goldman likes the SIRC M&A strategy, entry into adjacent sectors, past record performance and partnership/agreement with the EV developer of all-electric tractors, which is an applicant for a $500 million USTDA grant. Saying that SIRC is expanding volume both organically and with acquisition growth, it projects SIRC sales at $19.8 million for FY 2021 and $38.5 million In FY 2022.
SIRC itself forecasts a volume of $40 million for FY 2022 — slightly north of the $38.5 million projected for it that year by the new Goldman report. Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ (OTC PINK: SIRC).
Source: Stock Market Press
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