May 21, 2021 (Stock Market Press via COMTEX) -- Tim Hatamian, CEO of PLEMCo, the EV Charging Station subsidiary of Solar Integrated Roofing Corp. (OTC PINK: SIRC), tells Money TV host Donald Baillargeon, that he agrees with Wall Street stock analysts who see consolidation ahead for both manufacturers and service providers in the EV Charging Station industry. This will be caused in part by the high cost of administrative services (such as transaction processing) and will have some service providers "disappear" to larger players in the future, he predicted. "A good analogy is the DOT.com bubble," he said. Hatamian is a physicist with a background in hedge funds and risk management. Watch the just released interview here .
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), SunPower (NASDAQ: SPWR), Sunrun, Inc. /zigman2/quotes/205021014/composite RUN +5.63% , Blink Charging Co. /zigman2/quotes/205311237/composite BLNK +7.49% , Tesla, Inc. (NASDAQ: TSLA), GM /zigman2/quotes/205226835/composite GM +0.89% , SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG +5.89% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR +2.61% ,, Gibraltar Industries, Inc. /zigman2/quotes/204241548/composite ROCK +1.72% , Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Tim Hatamian, CEO Of PLEMCo, EV Charging Station Subsidiary Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sees Consolidation And More Price Competition Ahead For EV Charging Station Industry
Hatamian said he sees the future of the EV Charging Station business in phases. Currently, he says, the industry is in a "tidal wave of interest and it's going to last about two years." He added, "At the end of that period there is going to be considerable consolidation, in my estimation, among manufacturers." He predicted that within this time frame Chinese products would become "more competitive in price than they are now." He further predicted that as prices come down, administrative costs -- such as transaction expenses -- would remain high and force some service providers that cannot compete on price to disappear."
"A good analogy -- a parallel — is the dot.com bubble," he said, referring to the year 2000 when there was too much industry proliferation and caused the DOT.com bubble. "We should expect something of that sort in two to four years.
On the physical side, things will certainly not be easy. We (PLEMCo.) will successfully maintain an edge. We always look one to two years ahead. We are gradually leaving the low end of the market to the small time operators." He said that PLEMCo. was well positioned in the industry in large part due to its established brand recognition.
SIRC Acquisition Has Been A Good One With David Massey, CEO of SIRC, "Very Supportive Of Us"
He said that the acquisition of PLEMCo. by Solar Integrated Roofing Corp. (OTC PINK: SIRC) has been a good one. "We are getting along really quite well with it. The company, especially David Massey (CEO of SIRC), has been very supportive of us and our business plan to expand revenues from EV Charging. The goal is expanding the share of revenues from EV Charging of our overall revenues. Because that coincides with what SIRC wants, we've done very well with them." Tim Hatamian, CEO Of PLEMCo, EV Charging Station Subsidiary Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Tells Money TV That He Sees Consolidation And More Price Competition Ahead For EV Charging Station Industry.
Hatamian said PLEMCo. was formed initially as an energy services company. Seven years after formation, the Department of Energy (DoE Qualified ESCo) recognized the company as qualified in 2012. "It is a badge of honor," he said. That same year, he said, "PLEMCo. decided that EV Charging infrastructure was going to be a major ground floor opportunity for us to be in. So we started leveraging our existing brand name recognition and some long-term contracts we had with the federal government to establish our presence." PLEMCo. positioned itself with government contracts and the company now has both energy services and EV Charging. "Another result is that major manufacturers are more and more aware of us and want to partner with us," he said in the interview.
Hatamian's view that the EV Charging Station industry will in the future see a period of consolidation is in line with the prediction of stock analysts who, after the ChargePoint SPAC merger with Switchback Energy earlier this year, now say that the entire EV industry will go through more mergers in the future. Tim Hatamian, CEO Of Plemco, EV Charging Station Subsidiary Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Tells Money TV That He Sees Consolidation And More Price Competition Ahead For EV Charging Station Industry.
Stock analysts say that the EV Charging Station industry will undergo a series of mergers. ChargePoint operates 135,000 charging ports nationally, the most of any EV Charging Station company in the U.S.
The EV Charging Industry includes a host of companies including: Solar Integrated Roofing Corp. (OTC PINK: SIRC), Blink Charging (NASDAQ: BLNK), ChargePoint (NYSE: CHPT), Volta Charging and EVgo. Plus General Motors (NYSE: GM) and Tesla (NASDAQ: TSLA) are actively involved in building a nationwide network of EV Charging Stations to support electric cars. Tim Hatamian, CEO Of PLEMCo, EV Charging Station Subsidiary Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Tells Money TV That He Sees Consolidation And More Price Competition Ahead For EV Charging Station Industry.
David Massey, CEO of SIRC, said he is looking for more EV Charging Station firms to acquire in the future, as it grows its footprint in this growing clean energy space.
As the federal government under the Biden administration foresees a national network of some 500,000 EV Charging Stations, General Motors (NYSE: GM) and Tesla (NASDAQ: TSLA) and numerous public and private companies are growing the number of EV Charging Stations available to EV drivers, SIRC is seeking to expand in this green energy space.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ .
Source: Stock Market Press
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