In shadow of Tesla’s (NASDAQ: TSLA) Record Q3 Sales And Earnings, Electric Car Market Hot With Three New EV Prototypes Coming From Foxconn In Taiwan While Toyota And Stellantis-LG Plan New EV Battery Plants For U.S.; Solar Inte-grated Roofing Corp. (OTC PINK: SIRC) Bullish On Its EV Charging Station Busi-ness

 In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NYSE: CHPT, NYSE: F, NYSE: GM, NYSE: SPRQ, OTC PINK: SIRC

In the shadow of Tesla’s (NASDAQ: TSLA) record Q3 sales and earnings announced this week, three new electric car prototypes are shown by Foxconn Technology Group in Taiwan. In addition, Toyota and, separately, Stellantis-LG partnership plans to build lithium-ion battery plants in the U.S. for EV vehicles. With new electric cars and trucks entering globally, the supporting market for EV Charging Stations and home-based installed systems is soaring. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is bullish on its own EV Charging Station business, through its acquired subsidiary PLEMco.

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).

In shadow of Tesla’s (NASDAQ: TSLA) Record Q3 Sales And Earnings, Electric Car Market Hot With Three New EV Prototypes Coming From Foxconn In Taiwan While Toyota And Stellantis-LG Plan New EV Battery Plants For U.S.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its EV Charging Station Business

Tesla (NASDAQ: TSLA) stunned and excited the rest of the electric car industry when it announced its Q3 record earnings of $1.6 billion and sales of $13.8 billion. Tesla, the leading EV vehicle OEM manufacturer, additionally owns 56% of the electric charging market. The Q3 financials prove that electric cars manufacturing can be profitable — supported by the largest EV Charging Station network globally. Tesla chargers are proprietary to Tesla vehicles. But others plan to be players as more electrics cars and the EV Charging Station industry thrives.

Enter Foxconn, which this week debuted three new electric car prototypes — which will be marketed under other brand names. An Apple-making company, this is Foxconn’s first entry into the electric car industry. It is offering  sedan model, which insiders say will be marketed by a European car brand in coming years. There will also be an all-electric SUV and bus, according to The Wall Street Journal.

While electric car entries globally multiple in number, Toyota and — separately — the partnership of Stellantis and LG are planning electric vehicle lithium-ion battery plants in the U.S. Toyota will spend $3.4 billion through 2030 on its battery project, without disclosing how much of that will be spend on plants in the U.S. It first U.S. plant, plans to begin production in 2025.

The Stellantis-LG joint venture plans to spend on a new battery plant, but would say how much they are spending on it, only that it would produce batteries with a combined output of up to 40 gigawatt hours — enough to supply hundreds of thousands of EVs.  In shadow of Tesla’s (NASDAQ: TSLA) Record Q3 Sales And Earnings, Electric Car Market Hot With Three New EV Prototypes Coming From Foxconn In Taiwan While Toyota And Stellantis-LG Plan New EV Battery Plants For U.S.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its EV Charging Station Business.

The Q3 earnings announced by Tesla (NASDAQ: TSLA) dwarfed the early efforts of General Motors (NYSE: GM) and Ford (NYSE: F) in the electric car business. Tesla (NASDAQ: TSLA) may have had a head start in the EV business, but GM and Ford — as well as a growing number of other OEM car brands — are entering and growing the electric car industry. Building a national network of EV Charging Stations is becoming more of a factor to challenge ‘range-anxiety’ fears of potential electric car buyers.

General Motors (NYSE: GM) plans to introduce 30 all electric vehicle models globally by 2025, beginning with its first electric pickup truck being shown trade events— a competitor to Ford’s (NYSE: F) new ‘Lightning,’ an electric version of its best-selling ‘150’ pickup truck. The ‘Lightning’ already has 150,000 non-binding buy reservations. In shadow of Tesla’s (NASDAQ: TSLA) Record Q3 Sales And Earnings, Electric Car Market Hot With Three New EV Prototypes Coming From Foxconn In Taiwan While Toyota And Stellantis-LG Plan New EV Battery Plants For U.S.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its EV Charging Station Business.

The EV Charging Station industry, supporting the electric car industry, is seen as a sweet spot in the future. GM’s goal is $280 billion by 2030 in electric cars, as it partners with EV charging company EVgo (NASDAQ: EVGO) for the installation of fast chargers. EVgo may have the inside track to install 2,500 chargers for GM by the end of 2025, but it spells opportunities for others.

One is Solar Integrated Roofing Corp. (OTC PINK: SIRC), through its subsidiary PLEMco. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is an aggressive player in the EV Charging Station industry and is an applicant for some $100 million in government grants to build more.

There could be more government tailwinds ahead for electric vehicles and the EV Charging Station industry. Dual Infrastructure Bills, as now written, would include $7.5 billion in an infrastructure package for EV Charging and government funded rebates and tax credits for electric car purchases to spur more growth. Today electric cars make up just 2-3% of all new car sales in the U.S. SIRC is an applicant for sme $100 million in government grants to help fund the building and installation of more charging stations.

David Massey, Chairman and CEO of SIRC, said that he remains hopeful that these grants will be approved — but they remain in applicant mode for now. Passing the Infrastructure package is critical to SIRC because some EV Charging gas stations and convenience stores are balking at spending some $100,000 apiece for fast-chargers in a world where electric cars make up only about 3% of all U.S. new car sales today.

SIRC, through its PLEMco subsidiary, is committed to a share of the emerging EV Charging Station industry. SIRC is a proponent of an eco-system of green energy. The EV Charging Station sector is an important space for SIRC, in addition to its roofing, solar and rechargeable solar battery businesses. One catalyst advantage for SIRC is that 80% of EV charges are made in the home, the Department of Energy (DOE), found. SIRC solar and battery residential installations mean that the company’s installers are often in the home — where electric car charging already occurs.

Electric car sales in the U.S. are soaring, more than doubling in the 1st half of 2021with Ford (NYSE: F), General Motors (NYSE: GM) and foreign OEM makers, such as Mercedes-Benz, Volkswagen and BMW AG, are setting self-imposed deadlines of 2030 for all-electric model lines. EV Charging Stations — especially fast charging stations — are a key factor in supporting electric vehicle sales.

SIRC sees a positive future in EV Charging Stations in the future. SIRC’s focus is on this green sector as it grows. Stock analysts say successful and passed Infrastructure Legislation could mean higher prices for EV Charging stocks, such as ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO) And Blink Charging (NASDAQ: BLNK). The positive result would not be any different for SIRC.

In shadow of Tesla’s (NASDAQ: TSLA) Record Q3 Sales And Earnings, Electric Car Market Hot With Three New EV Prototypes Coming From Foxconn In Taiwan While Toyota And Stellantis-LG Plan New EV Battery Plants For U.S.; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its EV Charging Station Business.

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

Source: Stock Market Press

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