Mind-Bending Lithium Cost Hikes Of 280% In One Year Is a Headwind For Electric Cars, But Not Expected To Stall Sales Momentum; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., Subsidiary Remains Bullish On EV Charging Station Market

Mind-bending cost hikes in lithium, some say the metal rose up to 280% in the past year, are a headwind for OEM electric car makers seeking to source lithium-ion batteries. Manufacturers seeking to source the key component for electric batteries range from Tesla (NASDAQ: TSLA), to General Motors (NYSE: GM) and Ford (NYSE: F). Some are sourcing it, hunting for their own lithium mines and trying to find cheaper lithium anywhere. To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., EV Charging Station subsidiary, the shortage and price hikes of lithium tell a story of a fast-growing EV market with supplies trying to catch up with demand.

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).

Mind-Bending Lithium Cost Hikes Of 280% In One Year Is a Headwind For Electric Cars, But Not Expected To Stall Sales Momentum; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., Subsidiary Remains Bullish On EV Charging Station Market

Lithium carbonite, used in less expensive electric cars, has gone up by 289% in 2021 to reach $24,000 per ton. Lithium hydroxide, used for more expensive electric motors, rose 192% last year to hit $26,000 per ton.

Shares of some public lithium producers are up about 70% this past year. China, Australia and Chile are world leaders in lithium mining and production.

Citigroup analysts foresee demand outpacing again this year, but with lithium production finally catching up and perhaps passing demand by 2025.

OEM electric vehicles are coming from Tesla (NASDAQ: TSLA),Toyota (NYSE: TM), General Motors (NYSE: GM), As Ford (NYSE: F) and other major brands.

Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., subsidiary wins as EV Charging Stations take priority for state and federal funding to build a nationwide network of charging stations to support EV cars/trucks.

Finding, mining and processing lithium is a major competitive race for electric vehicle markers. Some major players in the U.S. and even looking at buying their own lithium mines. They are very mindful of their lost sales in the past two years when a shortage of electronic chips hurt their vehicle sales to potential buyers,

Now they want to source from themselves, whether it be lithium or chips. They never want to find themselves in a position of depending on outside supply-sources again. Mind-Bending Lithium Cost Hikes Of 280% In One Year Is a Headwind For Electric Cars, But Not Expected To Stall Sales Momentum; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., Subsidiary Remains Bullish On EV Charging Station Market.

Coastal elites may have thought they would have the electric EV market all to themselves — even mid-class OEM maker Toyota agreed. All were wrong as the opening salvo market share battle is in the bluest of blue-collar markets: middle  state-loved pickup trucks. The fact that all 50 states want to get ahead of the curve in EV Charging Station infrastructure to support electric cars/trucks is great for SIRC’s PLEMCo.

Specializing in installing EV Charging Stations, can SIRC’s PLEMCo. subsidiary  cash in?

One reason is that it may hold the high ground in winning government-sponsored contracts. PLEMCo., specializes in government-financed work in other areas, such as lighting. It is already busy handling RFPs for EV Charging Station contracts, according to SIRC executives, such as Pablo Diaz, SIRC president.

Parent SIRC is already an applicant for some $80 million in government grants to build more EV Charging Stations. Chairman and CEO David Massey says he is still awaiting word on those applications. Mind-Bending Lithium Cost Hikes Of 280% In One Year Is a Headwind For Electric Cars, But Not Expected To Stall Sales Momentum; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., Subsidiary Remains Bullish On EV Charging Station Market.

Analysts who missed the Tesla (NASDAQ: TSLA) IPO and subsequent run-up, were determined not to miss Rivian’s (NASDAQ: RIVN) launch, market insiders say.

Rivian’s (NASDAQ: RIVN) staged a successful $70 billion IPO late last year, and is now selling its RIT electric pickup truck.

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.

Tesla may be the most visible electric car company to most consumers, but Wall Street investors know better. They are betting on the Rivian IPO, startups like Foxconn, and the move by General Motors (NYS: GM) and Ford (NYSE: F) into all-electric cars and trucks in the near future.

Mind-Bending Lithium Cost Hikes Of 280% In One Year Is a Headwind For Electric Cars, But Not Expected To Stall Sales Momentum; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., Subsidiary Remains Bullish On EV Charging Station Market

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

Source: Stock Market Press

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