Toyota (NYSE: TM) Now Believes In Electric Vehicles, Pledges 3.5 Million (Includ-ing All Lexus Models) To Be Electric By 2030; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Gaining Share In EV Charging Station Space

Toyota (NYSE: TM) is now a believer. Prior, it was very conservative about electric vehicles as the whole auto industry embraced EVs. Now, Toyota has changed its tune. It is pledging to build 3.5 million electric vehicles by 2030 — including shifting its entire high end Lexus line to electric by 2030, in the U.S., China and Europe. Solar Integrated Roofing Corp. (OTC PINK: SIRC) benefits from Toyota’s move as it reaffirms the growth of EVs in the future. SIRC through subsidiary PLEMCo. competes in the EV Charging Station space.

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).

Toyota (NYSE: TM) Now Believes In Electric Vehicles, Pledges 3.5 Million (Including All Lexus Models) To Be Electric By 2030; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Gaining Share In EV Charging Station Space

Toyota (NYSE: TM) is still cautious about the lack of infrastructure for electric vehicles — namely, supporting EV Charging Stations, in the U.S. It specifically said  that its customers in the U.S. outside the coasts (Midwest) were not yet ready for battery powered cars. In May, Toyota was planning for just two million electric cars by 2030 — now it plans to build 3.5 million EV’s by that date.

For EV Charging Station installers, such as SIRC, the move to EVS by OEM car companies is a groundswell. It means more installations over a longer period of time.

Toyota was the last major holdout, and its management remains cautious. Now, Akio Toyoda, says driving electrics is fun. He remains cautious about the move to EVs, but says that the efficiency of an electric car is unequalled, he told The Wall Street Journal.

He is in good company.  Ford (NYSE: F) is now aiming for 40% of its sales to come from EVs by 2030. General Motors (NYSE: GM) focuses on going all-in on electric vehicles by selecting two combined $3 billion home state Michigan sites this week. One will be a conversion of its assembly plant in Orion for EV truck assembly. The other is near Lansing, a 50-50 joint venture battery plant with partner LG.

Mary Barra, CEO of General Motors (NYSE: GM), says the $3 billion EV investment for both facilities — plus LG’s $1 billion JV share — is an efficient exercise.

“We can leverage and go faster because of the existing (factory) footprint that we have,” Barra said.

EV leader Tesla’s (NASDAQ: TSLA) growth and the successful IPO of start-up Rivian (NASDAQ: RIVN) means that Wall Street likes what it sees.

The support network of EV Charging Station installers will only benefit from EV’s growth. Solar Integrated Roofing Corp. (OTC PINK: SIRC) through its PLEMCo. subsidiary competes in the EV Charing Station space.

Tesla, the leading EV vehicle OEM manufacturer, now owns 56% of the electric charging market. However, Tesla’s EV Charging Stations are mostly proprietary to Tesla itself. OEM Electric Car Makers, From Ford (NYSE: F) to General Motors (NYSE: GM), are or already have chosen Electric Charging Station partners.

The federal government says 80% of all charges are performed at home. So solar installers like SIRC are especially attractive partners because their crews are already in the home performing installations of solar and roofing already.  Toyota (NYSE: TM) Now Believes In Electric Vehicles, Pledges 3.5 Million (Including All Lexus Models) To Be Electric By 2030; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Gaining Share In EV Charging Station Space.

SIRC’s PLEMCo. has been successful in winning government contracts to build EV Charging Stations. And SIRC itself is an applicant for some $100 million in new federal grants to help build more EV Charging Stations, under President Biden’s newly-passed Infrastructure Law.

The Federal government is providing tailwinds under its newly-passed ‘Infrastructure’ Biden administration law. It offers incentives of about $7.5 billion for the EV industry.

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.  Toyota (NYSE: TM) Now Believes In Electric Vehicles, Pledges 3.5 Million (Including All Lexus Models) To Be Electric By 2030; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Gaining Share In EV Charging Station Space.

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.

Electric car sales in the U.S. more than doubled in the first half of 2021with Ford (NYSE: F), General Motors (NYSE: GM) and foreign OEM makers, such as Mercedes-Benz, Volkswagen and BMW AG, setting self-imposed deadlines of 2030 for all-electric model lines. EV Charging Stations — especially fast charging stations — are a key factor in driving electric vehicle sales.

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.

Toyota (NYSE: TM) Now Believes In Electric Vehicles, Pledges 3.5 Million (Including All Lexus Models) To Be Electric By 2030; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Gaining Share In EV Charging Station 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