Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) And Now Lucid (NASDAQ: LCID) Raise Profile Of Electric Cars And EV Charging Stations On Eve Of Con-gressional Vote On ‘Build Back Better’ Bill; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Space
Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) and now Lucid Group (NASDAQ: LCID) are OEM electric vehicle makers and are successfully raising the profile of EVs and EV Charging Stations to investors. Rivian’s stock is volatile. It closed last night at $140.41 in after-hours trading, off in combined trading-sessions almost 19%. That was after a wild Tuesday when its stock rose to $172. Lucid Group was wilder: its stock jumped nearly 24% to $55.52 Tuesday and last night in after-hours trading it fell to $50.30. All three electric auto makers are either approaching or surpassing the market value of General Motors (NYSE: GM) and Ford (NYSE: F).
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).
Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) And Now Lucid (NASDAQ: LCID) Raise Profile Of Electric Cars And EV Charging Stations On Eve Of Congressional Vote On ‘Build Back Better’ Bill; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Space
Lucid Group (NASDAQ: LCID) and Rivian (NASDAQ: RIVN) are the darlings of Wall Street. Rivian hoped for a $60 billion IPO and breezed past that hurdle. All financial eyes are on Lucid and Rivian. Money is pouring into their capital accounts. Insiders say it is partly being fed by money managers who were late or missed-altogether the success of Tesla (NASDAQ: TSLA). They were not going to miss this opportunity.
Major corporate players are already involved. Amazon (NASDAQ: AMZN) has a 20% stake in Rivian and made billions off its IPO. Ford (NYSE: F) will make a potential $6 billion windfall on this IPO. But eventually it may lose more than that competing with Rivian’s vehicles, according to The Wall Street Journal.
Rivian (NASDAQ: RIVN) only began delivering production electric vehicles in the three months ended September 30. In fact, it’s still early for the whole EV market — electric cars make only 3% of the new car population today. Lucid (NASDAQ: LCID), now with a $89.3 billion valuation — surpassing Ford and close to GM’s (NYSE: GM) $91 billion valuation.
Peter Rawlinson, CEO of Lucid, told The Wall Street Journal that the valuations and stock performance reflects the investment community’s “important endorsement” for electric vehicles overall. This is a new and emerging market. Luxury maker Lucid Group went public through a merger with a SPAC company in July and was valued at $60 billion last week. Rivian, in a filing, says it will launch three electric vehicle models by year’s end.
Electric car sales in the U.S. are soaring, more than doubling in the 1st half of 2021. 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.
A new electric vehicle entry will be Foxconn, which this week debuted three new electric car prototypes — which will be marketed under other brand names. An Apple-making company, this is Foxconn’s first entry into the electric car industry.
To builders and installers of EV Charging Stations, like Solar Integrated Roofing Corp. (OTC PINK: SIRC) subsidiary PLEMCo., the supporting EV Charging space is wide open. Market share in this supporting, large marketplace is available to companies that fight for it. Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) And Now Lucid (NASDAQ: LCID) Raise Profile Of Electric Cars And EV Charging Stations On Eve Of Congressional Vote On ‘Build Back Better’ Bill; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Space.
Some 80% of all electric vehicle charging is done in the home. That’s an advantage for SIRC because it is installing solar, roofs and rechargeable solar batteries in the home already. PLEMCo., its subsidiary, has long worked on government contracts that offer large and often commercial installations. SIRC’s opportunity with residential and commercial EV Charging Statons is unique and attractive.
PLEMCo. is already busy filing RFP requests for large, government funded installations. SIRC is busy in this space partnering with developers of residential multi-family housing projects.
The role of the EV Charging Station support industry is vital. It can overcome the concerns of range-anxiety potential buyers. Home and street EV Charging Station needs a population to be high profile and relax that potential EV customer.
Profits from EV Charging Stations are ‘sweet’ and there are various business models in play. The advantage of SIRC and its PLEMCo. subsidiary is that 80% of all electric car charging is done in the home. To install a dedicated plug or unit in a residence, SIRC has the advantage of working in the home already in its core businesses: solar, roofing and rechargeable solar batteries.
SIRC is also an applicant for some $100 million in government grants to build more EV Charging Stations in the future. According to Pablo Diaz, CEO of SIRC subsidiary USA Solar Networks, subsidiary PLEMCo. is overwhelmed with RFP’s for government projects in its EV Charging Station pipeline.
David Massey, Chairman and CEO of SIRC, said that he remains hopeful that the government grants will be approved — but they remain in applicant mode for now. Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) And Now Lucid (NASDAQ: LCID) Raise Profile Of Electric Cars And EV Charging Stations On Eve Of Congressional Vote On ‘Build Back Better’ Bill; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Space.
Some EV Charging gas stations and convenience stores are balking at spending some $100,000 apiece to build and install fast-chargers in a world where electric cars make up only about 3% of all U.S. new car sales today. To change that for the positive, more federal government tailwinds and funding will be key.
EVgo (NASDAQ: EVGO) may have the inside track to install 2,500 chargers for GM by the end of 2025, but it spells greater opportunities for others. In this large and developing space, EV Charging Stations will have room for many competitors —- among them, SIRC.
SIRC sees a positive future in EV Charging Stations in the near and long-term future. SIRC’s focus is on this green sector as it grows. EV Charging stocks, such as ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO) And Blink Charging (NASDAQ: BLNK), could benefit. The positive result would not be any different for SIRC.
With new electric cars and trucks entering globally, the supporting market for EV Charging Stations and home-based installed systems is soaring.
Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) And Now Lucid (NASDAQ: LCID) Raise Profile Of Electric Cars And EV Charging Stations On Eve Of Congressional Vote On ‘Build Back Better’ Bill; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Space
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
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.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.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
