Tesla (NASDAQ: TSLA) Has Built 625,000 Electric Cars YTD 2021 And Domi-nates EV Charging
Tesla (NASDAQ: TSLA) in the first three quarters of 2021 — the period YTD — has built 625,000 electric cars. Each of first three quarters this year were the largest in Tesla’s history in measuring units built. In Q3, its most recent, Tesla built 238,000 cars. Its goal for the year is 900,000. Tesla holds the leading share of the EV Charging Station industry at 56% and does it all at a profit: Q3 record earnings reached $1.6 billion and sales of $13.8 billion. This is great news for Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., subsidiary which 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).
Tesla (NASDAQ: TSLA) Has Built 625,000 Electric Cars YTD 2021 And Dominates EV Charging Station Industry; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees TSLA Growth A Great Sign For Its PLEMCo. Subsidiary’s EV Charging Station Business
Here’s why Tesla’s (NASDAQ: TSLA) good news is also SIRC’s good news. Tesla may lead the EV Charging Station industry, but its chargers are proprietary to Tesla. In other words, by SIRC’s PEMCo. subsidiary competing in that space, it can install chargers available to all other electric brands — from General Motors (NYSE: GM) to Ford (NYSE: F).
Sirc’s PLEMCo. can also make EV chargers for other electric car brands, such as foreign made BMW, Mercedes-Benz, Audi and others. Its chargers can also serve electric newcomers such as Rivian (NASDAQ: RIVN). Nissan (OTC: NSANY) will be back to electric and Toyota (NYSE: TM) is now on board and will electrify its entire Lexus line. It also build 3.5 million electric vehicles for North America rather than the conservative 2.5 million originally planned.
Each of the first three quarters of 2021 have been Tesla’s (NASDAQ: TSLA) largest in terms of vehicle production. It is now looking to add a production plant in Europe as it grows. Tesla (NASDAQ: TSLA) Has Built 625,000 Electric Cars YTD 2021 And Dominates EV Charging Station Industry; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees TSLA Growth A Great Sign For Its PLEMCo. Subsidiary’s EV Charging Station Business.
All of this electric car building activity is positive for SIRC. As the Biden administration rolls out plans in February 2022 to create a nationwide network of EV Charging Stations along its national highway system, the outlook for SIRC’s PLEMCo. subsidiary grows stronger for future growth.
OEM electric car makers are already choosing EV Charging Station partners for future expansion. But Biden’s new joint office to oversee electric car growth will offer billions in new grants to ensure there are enough chargers to overcome the range anxiety concerns of prospective electric car buyers.
Today, EVs only represent 4% of total US new car sales. Biden has a targeted goal of raising that to 50% by 2030. He will need many more EV Charging Stations to make that a reality. Enter SIRC’s PLEMCo.
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 Infrastructure Law.
Potential buyers fear running out of charge. They need to see and use more EV Charging Stations nationally. The Federal government is providing tailwinds, but the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations to relive range anxiety.
They will be looking for EV Charging Stations. SIRC and PLEMCo. can help build more, with government funding to help. Tesla (NASDAQ: TSLA) Has Built 625,000 Electric Cars YTD 2021 And Dominates EV Charging Station Industry; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees TSLA Growth A Great Sign For Its PLEMCo. Subsidiary’s EV Charging Station Business.
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 help fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary.
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.
Electric car companies and EV Charging Station locations have been playing chicken. Gas stations and convenience stores, like 7-11, have been reluctant to spend $100,000 or so to install fast-charger EV Charging Stations when EVs make up only 4% of the domestic car population.
Everything is at stake. Tesla may be the most visible electric car company to most consumers, but Wall Street investors know better. They are betting on Rivian (NASDAQ: RIVN), startups like Foxconn, and the move by General Motors (NYS: GM) and Ford (NYSE: F) into all-electric cars and trucks in the near future.
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 by 2030 in 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 spells opportunities for others.
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.
Tesla (NASDAQ: TSLA) Has Built 625,000 Electric Cars YTD 2021 And Dominates EV Charging Station Industry; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees TSLA Growth A Great Sign For Its PLEMCo. Subsidiary’s EV Charging Station Business.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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