The General Motors (NYSE: GM) Hummer Is Back, Only This Time It’s All-Electric, Priced At $110,000 And With 1,000 Horsepower; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Industry Serving Diverse Collection Of Electric Vehicles

For an OEM car company like General Motors (NYSE: GM) proud to join with Honda (NYSE: HMC) to build a line of $30,000 moderately priced all-electric cars by 2027, GM now introduces the $110,000 priced electric Hummer. Originally some 30 years ago it was  transformed from a military vehicle to the consumer market with a paltry 10-mile-per-gallon efficiency. Now according to CBS News, the Hummer is being reintroduced as a 1,000 horsepower monster truck. GM already has 65,000 reservations for purchase. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Industry Serving Diverse Collection Of Electric Vehicle

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).

The General Motors (NYSE: GM) Hummer Is Back, Only This Time It’s All-Electric, Priced At $110,000 And With 1,000 Horsepower; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Growth In EV Charging Station Industry Serving Diverse Collection Of Electric Vehicles

Electric vehicles, it seems, makes strange bedfellow  partnerships between companies and very strange views of the market. On one hand, General Motors (NYSE: GM) is partnering with Honda (NYSE: HMC) together to build a line of moderately priced electric vehicles by 2027. The two companies are concerned that electric vehicles are too high priced for the American consumer. They also see Tesla (NASDAQ: TSLA) raising prices aggressively recently because of higher component parts (such as electric batteries) and scarcity of other materials.

At the same time, GM is now debuting the all-electric Hummer as a monster truck without the poor gas mileage it offered some 30 years ago. Its price tag now is at $110,000+, depending on accessories, the cost of the top Tesla model.

To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the more diverse offerings of electric vehicles from GM and other well known US carmakers the better. The result will be a stronger and faster growing EV Charging Station industry to support it all.

Currently, electric cars average some $60,000 new, compared to just $45,000 for the average gasoline powered vehicle. The $60,000 is seen as just too high for the average consumer. Tesla (NASDAQ: TSLA) has long teased that the market leader would eventually introduce a $25,000 mid-priced Tesla electric car. In 2022, Tesla will focus on delivering higher ticket cars already ordered — not debuting new models.

The GM-Honda partnership would also extend to other future components — such as the development of driverless cars, the Companies said. GM has already said it is developing a subcompact electric car to be priced in the $30,000 range — so it is already eyeing the moderate-priced market.

Lower pricing of $30,000 can only lead to a greater rush to all-electric vehicles, raising its percentage of the U.S. new car OEM demographic from 4% today to perhaps 20% in just a few years from now. If gas prices continue to spike, Wall Street analysts predict it would spark a rush to buy electric vehicles. A EV Charging Station nationwide network would then be most urgent. Enter SIRC and its refocus on the charging industry.

But perhaps not for the new GM Hummer $110,000+ vehicle. Reservations for orders at 65,000 say something else — there is a component of American buyers who are not deterred by high pricing.

SIRC sees an opportunity in EV Charging Stations in part due to high gasoline prices at $6-$7 in some markets, such as California. Federal tailwinds including  tax rebates, grants and funding of electric cars and EV Charging Station initiatives of some $5 billion.

Showing its commitment to the market, SIRC announced recently it signed an LOI to acquire three complementary LA-based EV Charging Installers with $100 million annually in the sales pipeline. David Massey, founder and CEO of SIRC, says the Company is refocusing  its efforts to capitalize on the EV Charging opportunity. SIRC is also an applicant for federal grants to help build the envisioned nationwide network of EV Charging Stations.

SIRC seeks to become the dominant nationwide player in the projected $28.4 billion by 2028 EV Charging Station industry. David Massey, founder and CEO of SIRC, says, “Electric vehicle charging is the next massive opportunity in our market, and this calculated alignment of our near-term focus will help to position SIRC as a clear national player in this space. The expanding EV charging market is being driven by the rapid adoption of electric vehicles nationwide — for example, the U.S. Energy Information Administration predicts there will be 7.5 million EVs on American roads by 2025.”

Grand View Research reports that the U.S. electric vehicle charging infrastructure market size will increase from $2.1 billion in 2020 to $28.4 billion in  2028, a compound annual growth rate of 38.9%. With our proven success in solar, the EV charging market is opening the door for our company to capture dual-industry, synergistic avenues of growth.”

In addition, Massey says, “We are currently leveraging our vast network of nationwide installers to ramp sales efforts and capitalize on the exponential increase in demand. As of today, we have over $20.2 million in EV charging projects in our backlog with a further $30 million in the pipeline.”

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

Source: Stock Market Press

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