Rivian (NASDAQ: RIVN) Stock Drops After COO Leaves, Ready For Electric Car Wars As It Initially Focuses On Market Share Not Profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Opportunity In EV Charging Station Space With Subsidiary PLEMCo.

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Rivian (NASDAQ: RIVN) Stock Drops After COO Leaves, Ready For Electric Car Wars As It Initially Focuses On Market Share Not Profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Opportunity In EV Charging Station Space With Subsidiary PLEMCo.

Rivian Automotive, Inc. (NASDAQ:RIVN) rallied to $83.67 in after-hours trading last night after falling when Rod Copes, its COO, announced he was leaving the OEM electric carmaker. RIVN said the move had been planned all along, but it was deemed highly unusual by Wall Street after it funded its IPO late last year. RIVN has a market valuation of $91.9 billion today. For EV charging station installers like Solar Integrated Roofing Corp. (OTC PINK: SIRC) PLEMCo. Subsidiaries, electric cars are a great opportunity.

stockmarketpress.com offers specialized coverage of related stocks in the solar, roofing, electric vehicle charging and battery charging energy sectors such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ:RUN), Blink Charging Co. (NASDAQ:BLACK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE:GM), ChargePoint (NYSE:CHPT), EVgo (NASDAQ:EVGO), SolarEdge Technologies, Inc. (NASDAQ:SEDG), First Solar, Inc. (NASDAQ:FSLR), solar power (NASDAQ:SPW), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ:CSIQ).

Rivian (NASDAQ:RIVN) Share losses after COO leaves, poised for EV wars as it initially focuses on market share rather than profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees opportunity in electric vehicle charging station with subsidiary PLEMCo.

Now that the executives’ news last night is seared into the $83.67 share price, it’s a key brand in the burgeoning electric truck business. Actually Amazon (NASDAQ: AMZN) holds 20% of the shares in the company and has already ordered around 100,000 electric vans from Rivian (NASDAQ:RIVN).

Rivian is already the darling of Wall Street. Its launch vehicle is a pickup truck and its largest shareholder is Amazon. Amazon initially owned a 20% stake in Rivian prior to the IPO, the company said. Ford (NYSE:F) achieved a windfall of around 6 billion US dollars when it went public. But ultimately, according to the Wall Street Journal, it could lose more than that when competing with Rivian’s vehicles.

It’s early for Rivian. It only began shipping production electric vehicles in the three months ended September 30. In fact, it’s still early days for the overall EV market – electric cars now make up just 4% of the new car population.

Rivian CEO Claire McDonough says her focus now is on gaining EV market share rather than making a profit.

She says, “We want to prioritize our ability to bring new vehicles to market quickly, rather than going down this route to prioritize profitability.” Rivian (NASDAQ:RIVN) Share losses after COO leaves, poised for EV wars as it initially focuses on market share rather than profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees opportunity in electric vehicle charging station with subsidiary PLEMCo.

So while she focuses on expanding the new company’s factory footprint in locations like Normal, Illinois and Georgia, “capital allocation policy” will be the primary focus. It’s part of their tool kit for managing Rivian’s relationships with potential investors.

That’s important because raising new funds to operate will be critical to Rivian’s future, Wall Street investors tell The Wall Street Journal. Electric car sales in the US are growing rapidly, more than doubling in the first half of 2021. Ford (NYSE:F), General Motors (NYSE:GM) and foreign OEM manufacturers such as Mercedes-Benz, Volkswagen and BMW AG have set themselves deadlines of up to 2030 for all-electric model series.

EV charging stations – especially fast charging stations – are a key driver of electric vehicle sales.

To Solar Integrated Roofing Corp. (OTC PINK: SIRC) subsidiary PLEMCo. the underlying space for EV charging stations is a critical growth area. For electric car and truck OEMs, range anxiety remains important to closing the deal. For SIRC, charging stations for electric vehicles are an important opportunity.

In order to overcome the range anxiety of potential buyers, the number of EV charging stations at home and on the street must be high enough to be known and relaxed for the EV customer. Potential buyers need to see enough EV charging stations to be confident that longer car journeys are possible.

They are critical to President Biden’s ability to meet his fleet goal of 500,000 electric cars, as well as the tough 2030 deadlines imposed by major brands.

GM is fully committed to electric vehicles. General Motors (NYSE:GM) plans to launch 30 pure electric vehicle models worldwide by 2025, starting with its first electric pickup, which is now being shown at trade events. It is a competitor of Ford (NYSE: F) new Lightning, an electric version of its best-selling 150 pickup truck. The “Lightning” already has 150,000 non-binding purchase reservations.

Rivian will outperform the market with a flashy, sprightly, sporty sedan. As GM and Ford continue to electrify their traditional pickups and SUVs, Rivian will be a well-funded head turner. Tesla (NASDAQ:TSLA) currently leads the electric package, both in electric vehicles and with a share of 56% in electric vehicle charging stations. Tesla chargers are proprietary for Tesla vehicles only.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) competes in an EV charging station industry that is still in its early stages. Rivian (NASDAQ:RIVN) Share losses after COO leaves, poised for EV wars as it initially focuses on market share rather than profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees opportunity in electric vehicle charging station with subsidiary PLEMCo.

The advantage of SIRC and its PLEMCo. As an aside, 80% of all electric cars are charged at home. When installing a dedicated plug or device in a residential home, SIRC has the advantage of already working on its core business in the home: solar, roofing and rechargeable solar battery installation.

SIRC is also a contender for approximately $100 million in government grants to build more electric vehicle charging stations in the future. According to Pablo Diaz, President of SIRC, PLEMCo. is overwhelmed with RFPs for government projects in its EV charging station pipeline.

SIRC Chairman and CEO David Massey said he remains hopeful that the government grants requested by the SIRC will be approved. You remain in applicant mode for the time being. Passing the infrastructure package is critical for SIRC, as some EV charging stations and convenience stores are reluctant to spend about $100,000 apiece on fast chargers in a world where electric cars now make up only about 4% of all U.S. new vehicle sales turn off.

The EV charging station industry, which supports the electric car industry, is regarded as the sweet spot in the future. GM’s goal is to invest $280 billion in electric cars by 2030 as it partners with EV charging company EVgo (NASDAQ:EVGO) for the installation of rapid chargers. EVgo may have the inside track to install 2,500 chargers for GM by the end of 2025, but it spells opportunity for others.

Another electric vehicle entry will be Foxconn, which unveiled three new electric car prototypes that will be marketed under different brand names. As an Apple company, this is Foxconn’s first entry into the electric car industry. It offers a sedan model that insiders say will be marketed by a European car brand for years to come. According to the Wall Street Journal, there will also be an all-electric SUV and bus.

Rivian (NASDAQ:RIVN) Share losses after COO leaves, poised for EV wars as it initially focuses on market share rather than profit; Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees opportunity in electric vehicle charging station with subsidiary PLEMCo.

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

Source: stock market press

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