Jim Farley, CEO Of Ford (NYSE: F), Mary Barra, CEO Of General Motors (NYSE: GM), And Richard Palmer, CFO Of Stellantis (NYSE: STLA), Have Different Strategies For Success In Electric Cars And Catching Tesla (NASDAQ: TSLA); Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Business

Posted May 9, 2022

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, NYSE: STLA, OTC PINK: SIRC

Jim Farley, CEO Of Ford (NYSE: F), Mary Barra, CEO Of General Motors (NYSE: GM), And Richard Palmer, CFO Of Stellantis (NYSE: STLA), have different strategies for success in electric cars and catching Tesla (NASDAQ: TSLA). Ford has set up up two distinct divisions: one for gas-powered vehicles and the other for electric vehicles. Stellantis does not see the benefit to doing that and Mary Barra of GM says the overall OEM vehicle building business is stronger when the two operations are kept together. Either way, Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees growth in the 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).

Jim Farley, CEO Of Ford (NYSE: F), Mary Barra, CEO Of General Motors (NYSE: GM), And Richard Palmer, CFO Of Stellantis (NYSE: STLA), Have Different Strategies For Success In Electric Cars And Catching Tesla (NASDAQ: TSLA); Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Business

Jim Farley, CEO Of Ford (NYSE: F), thinks one way to create value and catch Tesla is by segmenting Ford — one for gas combustible vehicles the other for ‘e’ vehicles, almost as a separate company to completely track its costs/expenses. GM doesn’t follow that strategy, and now Richard Palmer of electric car newcomer Stellanits said his company believe such a move could cause ‘internal strife.’

The strategies for the three companies are designed to out-flank Tesla, today’s leader in electric vehicles. They want to sell more vehicles, create for valuation and eventually own dominant market share.

Mary Barra said in the interview, “Remember, we’re not just selling primarily at the premium end. We’re going to have electric vehicles affordable at $30,000. And in our joint venture with Honda we’re going to have something even more affordable that that with our affordable electric vehicle.

“It’s a little bit longer game. We’re taking all the steps to do it right. We want to make sure we have a full portfolio of vehicles and we have said by mid-decade that we will be selling more EVs in this country than anyone else — including Tesla.”

Farley says he is focusing on Detroit ‘muscle cars’ for EV domination, Barra is asserting that by offering lower priced electric cars — in multiple GM brands — GM will dominate electric car selling by mid-decade.

Farley cited his company’s successful F-150 pickup truck and the large number of reservation for its all-electric Lightning. “No has a pickup truck like this at $39,000.” The vehicle has 10,000 pounds of towing capacity, boasts a 320 mile range, 563 horse power and flies from 0-to-60 in just 4.4 seconds, he said.

The Company says it already has some 400,000 vehicles on its order books coming out of March. Pent-up demand for Ford vehicles is greater than the company’s ability to produce them. Jim Farley, CEO Of Ford (NYSE: F), Mary Barra, CEO Of General Motors (NYSE: GM), And Richard Palmer, CFO Of Stellantis (NYSE: STLA), Have Different Strategies For Success In Electric Cars And Catching Tesla (NASDAQ: TSLA); Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Business.

To SIRC, all of this demand for electric mid-priced vehicle product is great news. Rather than a focus on higher ticket Tesla electric vehicles, the consumer ‘want’ for lower ticket electric cars/trucks is perfectly positioned for EV Charging Station installers like SIRC that is focused on brands besides the proprietary Tesla chargers.

Ford has opened a new segment internally — creating its own e’ division away from its legacy car business complete with its own P&L to house its now unprofitable but fast-growing electric car business. Currently, ‘e’ produces the Mustang Mach-E and F-150 Lightning pickup truck. It will be a lucrative business: Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights.

To SIRC, all this bodes well for its devision to refocus its business plan to concentrate on EV Charging Stations. At the end of the day, fleet and consumer purchasers of electric Ford vehicles will want to use conventional EV Charging Stations. Although a greater number of OEM electric vehicle manufacturers will want to use their own charging equipment, SIRC is betting on the increasing role it can play in the soaring EV Charging Station industry.

SIRC has already made the decision about the growing importance of EV Charging Stations. With numbers predicting five million EVs in California alone within a decade. EV Charging Stations will grow exponentially. SIRC sees the opportunity for this alternative energy industry and wants to make itself a brand with a national footprint as it grows.

To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the heightened awareness, reporting structure and model launches in electric vehicles only brings a higher profile to supporting EV Charging Stations. SIRC not only competes in that industry through its PLEMCo., subsidiary, it has also recently announced it has signed an LOI to acquire three LA-based complementary EV Charging Station companies in that industry, as well.

Meanwhile, in a move that will soon drive 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.

SIRC’s PLEMCo., is well positioned to install EV Charging Stations for any of the three electric car companies — besides Tesla. In short, SIRC wins no matter which OEM company becomes an industry leader.

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

Source: Stock Market Press

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Shannon Roxborough

Shannon Roxborough is SMP's senior contributor writer. A financial journalist for more than 20 years, he has covered U.S. and global markets across all sectors. A former correspondent with Money magazine and columnist with Small Cap Investor, his writings have appeared in The Wall Street Journal and numerous other financial publications.