Hertz Is Doubling Down On Electric Cars Adding 65,000 Swedish Maker Polestar 2 Models Over Five Years, First In Europe Then To North America Starting This Fall, Saying High Gas Prices A Factor; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In EV Charging Station Business
Hertz filed for bankruptcy in May 2020 during the height of the pandemic. Now it is a major influence on the growth of electric cars. It has just doubled down on adding adding electric cars to its rental fleet. This time it is committing to add 65,000 Swedish auto maker PoleStar 2 models, first to Europe this spring then to North America in the fall over a five year period. Part of the reason is the spiking of gas prices, it said. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In 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).
Hertz Is Doubling Down On Electric Cars Adding 65,000 Swedish Maker Polestar 2 Models Over Five Years, First In Europe Then To North America Starting This Fall, Saying High Gas Prices A Factor; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In EV Charging Station Business
Polestar is owned by Chinese maker Zhejiang Geely Holding Group Co. It produced 29,000 vehicles in 2021. The Polestar 2 is a direct competitor to the Tesla (NASDAQ: TSLA) Model 3. Meanwhile, rental giant Hertz is preparing to add Tesla (NASDAQ: TSLA) Model Y to its new 100,000 vehicle rental fleet order just in time for summer driving season. Last Fall, Hertz announced it was adding to its rental fleet the Tesla Model 3 sedan last October. At that time, Hertz said the order would mean 20% of its rental fleet would be made up of electric cars.
At some $175 per day mid-week cost, a Hertz renter can soon request those Tesla models. For some customers, this will represent a test drive in an electric car and a trial at using an EV Charging Station.. Drivers can see how the all-electric car feels and see how many Tesla EV Charging Stations are on the road.
To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the move is a great one for its EV Charging Stations business through subsidiary PLEMCo., and electric cars in general.
Analysts have maintained that renting electric cars would only aid electric car sales — because drivers have test driven these models without sales pressure. Tesla has its own test-drive program for potential buyers, but this is another one.
Range anxiety remains a sales hampering issue. Tesla’s (NASDAQ: TSLA) Model 3 has a range of 260 miles while the upper scale Model Y has a range of 330 miles on a single charge. Rental cars drivers may be put at ease as they try driving all-electric models and pass by gas stations with sky-high prices.
Hertz, now with a market cap valuation of $9 billion, three times higher than before the pandemic hit.
The purchase of the Polestar 2 models is entirely in addition to the Tesla orderStephen Scherr, Hertz CEO, said.
Hertz Is Doubling Down On Electric Cars Adding 65,000 Swedish Maker Polestar 2 Models Over Five Years, First In Europe Then To North America Starting This Fall, Saying High Gas Prices A Factor; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In EV Charging Station Business
The addition of Tesla vehicles at Hertz will receive a special marketing push — a new ad campaign featuring NFL star quarterback Tom Brady. Rentals of Tesla Model Y will begin in April.
Meanwhile, all this comes at a time when Tesla (NASDAQ: TSLA) is taking thousands of dollars on price hikes on its models, accord to CBS News. Inflation is now seen as hitting 7.9% and Tesla is reacting with significant price increases on its models to compensate. Supply chain components and parts — such as computer chips — are harder to obtain at almost any price.
The price hikes by Tesla (NASDAQ: TSLA) include:
— Tesla Model X has risen in cost to $114,900, a $10,000 jump
— Tesla has increased its Model S price to $99,990, a $5,000 boost
— Model 3 has received a $3,000 hike to $61,990
— Model Y rose $4,000 to $62,990
Price increases and scarcity of supply are impacting materials such as aluminum, nickel and palladium. The Russian-Ukraine War is also making metal prices more expensive. Hertz Is Doubling Down On Electric Cars Adding 65,000 Swedish Maker Polestar 2 Models Over Five Years, First In Europe Then To North America Starting This Fall, Saying High Gas Prices A Factor; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In EV Charging Station Business.
To SIRC, the Hertz-Tesla electric car activity is seen as a positive for SIRC’s supporting EV Charging Station industry. In addition to having subsidiary PLEMCo., to install EV Charging Stations, SIRC has recently announced it signed an LOI to acquire three complementary LA-based Ev Charging Station companies. It also said it is refocusing its business plan to concentrate on the EV Charging Station business.
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 high profit margins. SIRC subsidiary 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.
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.
SIRC’s PLEMCo., can play a major role in the sweetest profit spot of all — the EV Charging Industry that will support it all. Consumers simply want to see more EV Charging Stations.
Hertz Is Doubling Down On Electric Cars Adding 65,000 Swedish Maker Polestar 2 Models Over Five Years, First In Europe Then To North America Starting This Fall, Saying High Gas Prices A Factor; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Big Opportunity In EV Charging Station Business
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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