Tesla (NASDAQ: TSLA) Last Night Reports Quadrupling Of Q3 Profit To Record $1.6 Billion On 57% Jump In Sales To $13.8 Billion As It Delivers 241,300 Electric Cars, Musk Predicts Severe Supply Chain Shortages Will End In 2023; Solar Inte-grated Roofing Corp. Focuses On Growing Its (OTC PINK: SIRC) EV Charging Station Business

 In NASDAQ: AMZN, 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

Tesla (NASDAQ: TSLA) last evening reported Q3 profit of $1.6 billion, quadrupling 2020 equivalents, and a 57% jump in sales to $13.8 billion as it delivers record 241,300 electric cars for the three month period. Elon Musk, CEO, predicted that the severe supply chain shortages affecting the auto industry would dissipate by 2023. Importantly, auto gross margins rose to 28.8% in Q3 vs.25.8% in Q2 as economies of scale set into the Company. As a result, Tesla’s Q3 profit more than quadrupled to $1.6 billion. As electric car performance booms, Solar Integrated Roofing Corp. (OTC PINK: SIRC), through its PLEMco. subsidiary, continues to grow its EV Charging Station sector.

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), 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).

Tesla (NASDAQ: TSLA) Last Night Reports Quadrupling Of Q3 Profit To Record  $1.6 Billion On 57% Jump In Sales To $13.8 Billion As It Delivers 241,300 Electric Cars, Musk Predicts Severe Supply Chain Shortages Will End In 2023; Solar Integrated Roofing Corp. Focuses On Growing Its (OTC PINK: SIRC) EV Charging Station Business

Tesla (NASDAQ: TSLA) is probably the highest profile electric car maker in the world. Its delivery of some 627,500 vehicles YTD — well above the nearly 500,000 electric cars Tesla delivered in all of 2020. Car sales have particularly grown in North America and China, the company said. Q3 deliveries have grown at Tesla by nearly 70% vs. 2020, the Company said. In after hours trading last night, Tesla (NASDAQ: TSLA) closed at $861.10, off by 0.54%.

On the issue of severe supply chain constraints, CEO Elon Musk, said at the Company’s annual meeting, “We should be through our severe supply chain shortages in ’23. I’m optimistic that that will be the case.” Tesla (NASDAQ: TSLA) Last Night Reports Quadrupling Of Q3 ProfitTo $1.6 Billion On 57% Jump In Sales To $13.8 Billion As It Delivers 241,300 Electric Cars, Musk Predicts Severe Supply Chain Shortages Will End In 2023; Solar Integrated Roofing Corp. Focuses On Growing Its (OTC PINK: SIRC) EV Charging Station Business.

Regarding SIRC’s EV Charging Station dedicated division, David Massey, Chairman and CEO of SIRC, said that the company is optimistic about the some $100 million in grants it is currently applying for. He declared that SIRC is focused on expanding its EV Charging Station business. He noted that 80% of all electric charging is done at home, and SIRC is very active in the installation of solar systems and rechargeable solar in the home. So SIrC installing EV Charging Stations in the home is a natural fit.

Pablo Dia, CEO of SIRC subsidiary USA Solar Networks, said that PLEMco., SIRC’s acquired EV Charging Station company — has a pipeline of so many state and federal projects now that it is overwhelmed. “PLEMco is very active,” he said.

Diaz described how the pending infrastructure deal is touching SIRC and its customers on multiple levels. He explained that its impact affects everything, from an extension on tax credits for solar installations, to the benefits for EV Charging Stations. “Everywhere, infrastructure touches us and benefits us and our customers.”

Tesla (NASDAQ: TSLA) also leads the industry worldwide in EV Charging Stations. As the Company delivers more record breaking profits, sales and higher gross margins, the electric car industry is making inroads into its 3% share of the auto population in the U.S. For companies like Solar Integrated Roofing Corp.  (OTC PINK: SIRC), it is a bullish indicator for its EV Charging Station business. SIRC has some $100 million in government grant applications in the EV Charging Station business. A lot hinges on passage of the Biden Infrastructure Bills.

The newest Tesla financials were great news for SIRC, but the issue is larger than that — numerous OEM car companies and startups are seeking to secure market share in the electric car and truck industry. They include Ford (NYSE: F), General Motors (NYSE: GM), startup Rivian, plus several from Europe — ranging from BMW to Mercedes-Benz. Tesla (NASDAQ: TSLA) Last Night Reports Quadrupling Of Q3 Profit To Record $1.6 Billion On 57% Jump In Sales To $13.8 Billion As It Delivers 241,300 Electric Cars, Musk Predicts Severe Supply Chain Shortages Will End In 2023; Solar Integrated Roofing Corp. Focuses On Growing Its (OTC PINK: SIRC) EV Charging Station Business.

Rivian, the electric car and truck marker backed by Amazon (NASDAQ: AMZN)  and Ford (NYSE: F), has filed its S-1 registration form with the SEC and is eyeing an $80 billion valuation for its IPO, scheduled for this Thanksgiving. The move — Rivian plans to begin EV car and truck deliveries in January 2022 —  should grow the EV Charging Station industry further. Amazon (NASDAQ: AMZN) and Ford (NYSE: F) have invested $10.5 billion in the new company.

Market Research Future detailed how quickly the EV Charging Station industry is growing. It is titled, “Electric Vehicle Charging Station Market.”

It analyzes the progress of Tesla (NASDAQ: TSLA), EVgo (NASDAQ: EVGO), ChargePoint (NYSE: CHPT) and other companies in the industry. The report finds that the electric EV Charging Station Market Is growing at a 37.51% CAGR and predicts it will reach $142.47 billion globally by 2028.

Tesla (NASDAQ: TSLA) Last Night Reports Quadrupling Of Q3 Profit To Record  $1.6 Billion On 57% Jump In Sales To $13.8 Billion As It Delivers 241,300 Electric Cars, Musk Predicts Severe Supply Chain Shortages Will End In 2023; Solar Integrated Roofing Corp. Focuses On Growing Its (OTC PINK: SIRC) EV Charging Station Business

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

Source: Stock Market Press

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