Ryan Stancil,
Editor
May 2, 2022
In my last editorial, I briefly mentioned how I spent a day in New York City at the International Auto Show and how there was a huge presence of electric vehicles.
It’s something worth talking about in more detail not only because it was the first Auto Show since 2019 but because of the trends I noticed while walking the show floor.
First and foremost, as noted, was just how much space was dedicated to EVs.
Every manufacturer on the main floor had at least some section of their exhibit dedicated to their EV offerings. Whether it was an elevated platform or an entirely separate display, they made sure their electric vehicles drew the attention of the thousands of people there.
And those were just the big car companies like Chevy, Subaru, and Volkswagen.
There were also smaller, up-and-coming companies there. The most notable was a Vietnamese company called VinFast, which only offers electric vehicles.
Every manufacturer there made a point to boast things like ranges, safety features, and overall lower running costs. But some specifically talked about what they were doing to help their customers get charging for their electric vehicles at home.
Some are connecting customers with companies that can install Level 2 chargers in their homes. Some are offering rebates and incentives. Others, like Chevrolet, offer to cover the cost for certain models.
VinFast even had prototypes of their portable chargers on display.
If nothing else, this just goes to show how committed car companies are to the switch over to EVs.
President Biden stated early on in his term that he wanted at least 50% of new vehicles sold by 2030 to be EVs or plug-in hybrids. And it looks like the car companies heard him loud and clear.
Consumers are also starting to catch on.
In the U.S., EV sales rose 76% in the first quarter. That’s enough to double market share to 5.2% from the same period last year.
People have been looking at gas prices and making the jump.
Ford’s new F150 Lightning electric pickup began production last week and has 200,000 reservations. Jim Farley, Ford’s CEO, says that the truck is sold out for at least a year.
The long-term goals are to get the costs of EVs down and make a wider range of models to appeal to more buyers (electric sports and muscle cars when?). Those things will come in time.
With it, we’re likely to see more interest in home charging and more interest in the companies that can offer the kind of revamped infrastructure needed for it.
This is an emerging — but crucial — part of the virtual power plant revolution.
These energy management systems use different devices to supply power to the grid and more efficiently manage electricity needed during peak hours. Those devices can include solar panels, battery storage, and EVs, to name a few.
This provides stability to the grid and creates an environment that helps reduce pollution created by traditional power plants.
The technology is set to become more common right alongside wider EV adoption, so investment opportunities are starting to emerge now.
One particular name is set to take off as the trend picks up. It has a partnership in place with a major company right now to provide home charging for EVs. It’s already made a name for itself through its solar technology, and this new venture will put it in even more homes.
If you invest now, it can put money in your account.
Learn all the details here and see just how you can profit from the future of energy.
Keep your eyes open,
Ryan Stancil
Editor, Daily Profit Cycle