Rental Cars Are Secret Ingredient In Driving Sales Of EV Charging Stations If US Is To Make 2030 Goals For Electric Car Sales; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its Subsidiary PLEMCo.’s EV Charging Station Business
To drive sales of electric cars and EV Charging Stations in the remainder of 2021 and beyond the secret ingredient is the rental car industry. After Hertz, Avis and Enterprise (National and Alamo) suffered meltdowns and sold off fleets during the pandemic, they now will play a special role in helping lift electric cars from only 3% of US auto sales — and generate the need for more EV Charging Stations. That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) and its PLEMCo. subsidiary, which installs EV Charging Stations.
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).
Rental Cars Are Secret Ingredient In Driving Sales Of EV Charging Stations If US Is To Make 2030 Goals For Electric Car Sales; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its Subsidiary PLEMCo.’s EV Charging Station Business
As electric vehicles languish at about 3% of US auto sales — potential buyers fear running out of charge. They need more EV Charging Stations nationally. The Federal government is providing tailwinds under its newly-passed ‘Infrastructure’ Biden administration bill. But that $1.2 trillion bill with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations.
The secret answer, according to The Wall Street Journal and Forbes, may be car rental companies. As travel returns, Hertz, Avis and Enterprise are looking to add a lot more electric cars to their fleets. That will give a larger number of consumers a non-dealer test drive in EV vehicles. They will be looking for EV Charging Stations.
If Biden is to hit his goal of a government-owned fleet of 500,000 electric vehicles — and hit 2030 carbon pollutant-reduction goals — he will need rental cars to help do the trick. He will fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary.
Firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC) are more bullish than ever on the future of its subsidiary PLEMCo.’s EV Charging Station business. In this climate, rental car companies can help generate more EV Charging Station installations nationwide. It can finally turn the corner and drive more EV and EV Charging Station sales.
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. However, Tesla’s EV Charging Stations are mostly proprietary to Tesla itself.
The major car rental companies can offer more electric vehicles on the road, but drivers who rent them will want more EV Charging Stations available for a recharge to relive their range-anxiety fears.
For SIRC’s PLEMCo. this is a perfect storm. Until now, electric car companies and EV Charging Station locations have been playing chicken. Gas stations and convenience stores, like 7-11, have been reluctant to spend $100,000 or so to install fast-charger EV Charging Stations when EVs make up such a small percentage of the domestic car population.
Car rental companies can quickly change that equation for the better. As more EV drivers are renting their cars with test drives, really, away from home — they EV Charging Stations. Rental Cars Are Secret Ingredient In Driving Sales Of EV Charging Stations If US Is To Make 2030 Goals For Electric Car Sales; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its Subsidiary PLEMCo.’s EV Charging Station Business.
To EV Charging Station players like SIRC’s PLEMCo., this industry has the tailwinds of government funding. SIRC itself is an applicant for about $100 million in grants to help build more EV Charging Stations.
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.
David Massey, Chairman and CEO of SIRC, said that he remains hopeful that SIRC’s grants will be approved — but they remain in applicant mode for now. Passage of the Infrastructure package is critical to SIRC.
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.
Now the ’Build Back Better’ program needs only Senate approval to become law with a Biden signature. It may change form, or be reduced in size, but BBB offers installers like SIRC all the benefits of extended federal taxes for solar installations. It is anticipated to help close more solar installation sales for SIRC and competitors.
Everything is at stake. 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.
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. Rental Cars Are Secret Ingredient In Driving Sales Of EV Charging Stations If US Is To Make 2030 Goals For Electric Car Sales; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its Subsidiary PLEMCo.’s 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.
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.
Rental Cars Are Secret Ingredient In Driving Sales Of EV Charging Stations If US Is To Make 2030 Goals For Electric Car Sales; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Bullish On Its Subsidiary PLEMCo.’s EV Charging Station Business
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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