Shortage Of Electric Car Charging Stations, Lack Of Profitability Signals A Shortage Of EV Chargers In The Future And An Opportunity For Solar Inte-grated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. Subsidiary
A shortage of Electric Car Charging Stations due to a perceived multi-year lack of profitability in the future and now intense competition among gas stations, convenience stores and other outlets for them, signals a shortage of EV Chargers in the future and an opportunity for installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. subsidiary. A confluence of events will place what is now only a 4% market share for EVs on the road to domination over gas-powered vehicles. For installers like SIRC’s PLEMCo. subsidiary, the quick growth in EVs will be an opportunity.
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).
With wait lists growing among drivers for electric cars and major players such as GM (NYSE: GM) and Ford (NYSE: F), the need for electric car chargers is seen outstripping supply. according to a new analysis by the WSJ. That’s a growth opportunity for SIRC’s PLEMCo. subsidiary. Meanwhile, public utilities and outlets from convenience stores to gas stations see the opportunity — but not the profit potential in the next few years. Here’s why:
- The federal government is committed to growing electric cars from 4% of OEM market share today to some 50%. It will spend money to do this on tax rebates for EV car purchasers, grants to EV car companies for new plants and union facilities and a nationwide network of EV Charging Stations.
- Tesla (NASDAQ: TSLA) has shown that making electric vehicles and marketing them can be done at a profit. It makes EVs in China, California and Austin, Texas., and has now opened a plant in Germany to service Europe. Other OEM makers are envious, want a share of this new pie as well as tie-up partnerships with EV Charging Station installers already in place.
- Now enter the usual suspects: Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and all the European brands,such as BMW, Volkswagen, Mercedes, and others. Even Toyota — the slowest to join electric car believers — has come along.
- OEM electric car makers are increasingly partnering with electric car makers. This is a significant opportunity for EV Charging Station companies to brand with OEM car makers. Drivers may be sensitive to brand in electric cars, but not so in electric chargers on the road. Some 80% of electric charging is done in the home, research shows.
- Research studies cannot keep up with the growth. Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights. It’s probably much higher.
Add it all up and it spells opportunity. As many investors watch the federal support dollars for electric car makers grow, they may be missing the action by states to ensure they are in the middle of electric car growth. To do so, they need more EV Charging Stations — especially in the Midwestern states.
The Federal government is providing tailwinds under its passed Biden administration bill that calls for about $7.5 billion in incentives for the EV industry. 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 to fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary.
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 in sales by 2030 from 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 also spells opportunities for others.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 email@example.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press