Hundreds of billions of private dollars are being poured into the EV industry … and that’s on top of Biden’s $174 billion for subsidies and charging stations.
There is no stopping the surge.
General Motors (NYSE:GM) is investing $27 billion in EVs over the next five years. It used the Superbowl for its breakout. Now, it’s mainstreaming them as the all-American car choice.
Ford (NYSE:F) is doubling its investment in EVs to $22 billion, and they’re planning to release their electric version of the Mustang and the F-150, the most popular vehicle in the U.S.
Amazon (NASDAQ:AMZN) dumped $700 million into EV startup Rivian, and as of January, it’s managed to boost its funding haul to $8 billion.
The United States Postal Service signed a 10-year, multi-billion dollar contract with Oshkosh Defense to produce thousands of electric mail trucks.
United Airlines (NASDAQ:UAL) just placed an incredible $1 billion order with EV manufacturer, Archer, for a fleet of electric air taxis.
And Tesla’s (NASDAQ:TSLA) recent earnings report blew the roof off the electric house, with car deliveries doubling in early 2021.
The U.S. Government fleets plan to go all electric, and profits are starting to plug-in for investors who saw the future in advance.
In a 12-month period …
Blink Charging (NASDAQ:BLNK) is up more than 1,509%…
Chinese Nio (NYSE:NIO) has gained 657%…
General Motors (NYSE:GM), whose stock couldn’t make a move at all prior to its EV push, has gained 94%.
Now, it’s time to look for the next EV tie-in play.
Nothing fits that sentiment better than Canadian Facedrive (TSXV:FD,OTC:FDVRF). The innovative pioneer of carbon offset ride-sharing has been acquiring companies and adding EV tie-in verticals at a rapid clip over the past year.
With these acquisitions, they’ve brought the EV boom into ride-sharing, food delivery and most stunningly, the emerging trend of car subscriptions.
All this is partly why they’ve seen shares jump over 45% over the last year…
And there’s likely much more to come here because this is a revenue growth story.
Over the last twelve months, Facedrive's revenue grew by 552%.
And now that Facedrive has announced a major government investment in their technology, we think their business could be set to take off in 2021.
Here are 3 reasons why you should be paying attention to Facedrive right now:
1 – Leveraging Auto Giants for the Gig Economy
Many of the biggest EV stories of late have come from auto giants unveiling new models or companies working on building out the infrastructure, like Blink Charging …
But Facedrive–always an innovator–is taking a different approach.
Instead, they’re using the cars those automakers have already made and turning them into an EV-related ecosystem.
Uber built its $96-billion business by leveraging cars that weren’t their own.
Facedrive (TSXV:FD,OTC:FDVRF) is aiming to do the same. It’s connecting customers to EVs through ride-sharing, food and pharma delivery and via car subscriptions with its most recent acquisition of Exelon-backed, Washington, D.C.-based Steer.
Their ride-sharing model is simple.
Customers request a ride and then pick conventional, hybrid or EV (at no extra charge).
Facedrive’s algorithm crunches the numbers, setting aside a portion of the fare to plant trees, offsetting the carbon footprint from the ride.
Through next-gen tech and partnerships, they’re bringing EVs into the gig economy and leveraging them for revenues, without manufacturing a thing.
That’s because Facedrive has also added a food delivery service, which has taken off since so many have been stuck at home during global lockdowns.
Today, they’re delivering over 4,100 orders per day on average. And after growing to 19 major cities, they plan to expand to more cities across the U.S. and Canada soon.
But they’ve also gone beyond applying EVs to the gig economy and are offering a way for people to get behind the wheel themselves without the usual sticker shock.
2 – Reinventing The Standard Model
EV demand is soaring and looks unstoppable.
By mid-decade, it’s forecast we’ll have the choice of more than 400 EV models.
Forecasts say this could push EV sales to between six million and 11 million vehicles by 2025, rising to between 11 million and 19 million units a year by 2030.
With Facedrive’s acquisition of Steer, drivers can get the benefits without the large upfront cost.
Facedrive recently acquired the EV subscription company from the largest clean energy producer in the United States, and they’re aiming to change the way people think about using EVs.
This is where Netflix meets the EV boom, for a double surprise that could turn traditional car ownership model on its head.
With Facedrive’s acquisition of Steer, customers pay a simple monthly fee like with Netflix, and they get access to their own virtual gallery of EVs, delivered on demand by concierge service.
So they can borrow one whenever they need it instead of buying an EV outright – and at a fraction of the cost of buying.
They had been up and running in the Washington D.C. market already…
And they’ve seen so much interest there that they’ve decided to expand further north, to roll out the service in Toronto as well.
Facedrive already has two of the largest metro areas in North America up and running, the eco-tech innovator is paving the way for a completely unique way to save drivers money in the EV boom.
3 – Eco-Friendly and Working on the COVID Front Lines
While Facedrive (TSXV:FD,OTC:FDVRF) has been busy helping bring EVs to mainstream use in creative ways, they’ve also been playing a role in the fight against COVID-19 in Canada. They're helping people get back to work—more safely.
Partnering with the University of Waterloo, they’ve created a wearable contact tracing technology called TraceSCAN.
It’s designed to help alert those without cell phones after they’ve been in contact with someone who’s tested positive for COVID-19.
That’s great news for those working in schools, airports, mining, long-term care facilities, and more.
And the demand for TraceSCAN has increased in recent months, as businesses work to open safely and responsibly.
Facedrive has now signed an agreement with Canada’s largest airline, Air Canada, to use this technology.
They’re also in discussions to continue TraceSCAN’s growth with major multinational corporations.
And the government of Ontario is investing $2.5 million to help speed up the deployment of TraceSCAN to more users.
That started the ball rolling in a major way, with Facedrive as a tech innovator pressuring other governments and businesses around the world to adopt measures to get people back to work safely and jump start economies.
2021 Is Where We Cement Our Electric Future
The EV boom isn’t just limited to manufacturing cars.
It involves building an entire electric ecosystem and re-imagining what transportation looks like on all fronts.
Other Companies To Watch As Electric Cars Boom
General Motors (NYSE:GM) is one of the world's largest manufacturers, and they are now branching out into manufacturing electric cars. Though GM has been around for a long time, this new venture is an exciting step in their company's history. They are working hard to create cars that are environmentally friendly and will offer drivers a better overall driving experience.
That’s not all its working on, either. In October, auto industry legend, GM announced that it’s majority-owned subsidiary, Cruise, has just received approval from the California DMV to test its autonomous vehicles without a driver. And while they’re not the first to receive such an approval, it’s still huge news for GM. “Before the end of the year, we’ll be sending cars out onto the streets of SF — without gasoline and without anyone at the wheel. Because safely removing the driver is the true benchmark of a self-driving car, and because burning fossil fuels is no way to build the future of transportation,” explained Cruise CEO Dan Ammann in a Medium post.
Ford (NYSE:F) is another legacy automaker that has committed to the electric vehicle boom. And while it suffered a major downturn last year, Ford is already bouncing back, with its stock price more than doubling since May 2020. Ford also announced that it plans on spending over $27 billion on electric vehicle production over the next decade.
Just two weeks ago, Ford finally revealed its new F-150. An electric version of one of the hottest selling cars in the United States. While Tesla’s still-to-be-released Cyber Truck boasts higher specs, the announcement of the iconic F-150 electric model has been very well received, and it has been reflected in Ford’s stock price.
In addition to its all-electric array of vehicles, Ford, like GM, is also looking to get in on the autonomous car boom. For its part, Ford has recently revealed plans to launch its self-driving business in 2022. The new vehicles, in partnership with Argo AI, a Philadelphia-based autonomous vehicle startup, will include major upgrades from advanced Lidar technology and high resolution cameras. Ford plans to test these vehicles in Austin, Texas; Detroit; Miami; Palo Alto, California; Pittsburgh and Washington, D.C. as early as this month.
Toyota (NYSE:TM) has an interesting background… In fact, it was established as a loom manufacturing company by Sakichi Toyoda in 1926. In 1933, its first passenger car was produced, though it did not become profitable until after World War II. In 1947, the Toyota Motor Company (TMC) was created to oversee production of vehicles from both companies; during this time period TMC began developing new technology such as direct injection engines and hybrid powertrains for use on future models. From 2007 to 2011 all models sold were either partially or fully electric, and it has gone even further since.
The Toyota Prius was one of the first hybrids to hit the road in a big way. While the legacy hybrid vehicle has been the butt of many jokes throughout the years, the car has been a major success, and more importantly, it helped spur the adoption of greener vehicles over the past decade.
Bob Carter, TMNA executive vice president of sales explained, “We continue to be leaders in electrification that began with our pioneering introduction of the Prius nearly 25 years ago,” adding “Toyota’s new electrified product offerings will give customers multiple choices of powertrain that best suits their needs.”
Amazon (NASDAQ:AMZN) is taking a step towards the future and has filed patent for an electric delivery vehicle. The vehicle would have no driver, but instead be able to self-drive in order to deliver packages or even groceries. This will help make deliveries more efficient by not having to rely on human drivers.
The idea of self-driving vehicles may seem like a big change, but it's actually something that many companies are working on right now – and if we think about it, they're not too different than the cars we drive ourselves today!
Amazon has also made bold renewable projects, and aims to be 100% renewable within the next four years.
The announcement this week piggybacks last week’s 8,000-word press release that spoke of Bezos’ exit from CEO impressive 2020 financial numbers. But the press release included little about the giant’s impact on the climate. Forbes detailed last month that in 2020, Amazon’s emissions increased by 15% over the previous year. The total carbon emitted is 51.1 million tons.
United Airlines (NYSE:UAL) has announced that they will be using electric airplanes. This is the first time in history that an airline company has used such a vehicle for commercial flights. Experts are saying this may have a major impact on the environment and those who live near airports. It's predicted to save up to $140 million in fuel costs annually, which could translate into cheaper ticket prices for customers.
The use of electric airplanes also means less noise pollution, as well as fewer emissions from jet engines meaning cleaner air quality overall. With more people taking to the skies every year, it's hard not to see why this new technology offers so many benefits over traditional planes.
Tesla Inc. (NASDAQ:TSLA) is an American automotive and energy company based in Palo Alto, California. Founded by Elon Musk in 2003, the company specializes in electric cars, lithium-ion battery energy storage, solar panels and also sells its products online. Tesla's first car was the Roadster sports car which became a reality when they began accepting orders for it on July 22nd 2008. The company has gone through many ups and downs over the years but recently they have been experiencing more success than ever before with their Model S sedan that received critical acclaim from both Consumer Reports as well as Motor Trend magazine who named it Car of the Year 2013.
Tesla was the talk of Wall Street in 2020. Throughout the year, the de facto king of electric vehicles dominated headlines and defied expectations. The meteoric rise by Tesla stock has seen CEO Elon Musk leapfrog several billionaires including Bill Gates to become the second-richest man on earth with a net worth of over $155 billion. Musk even briefly surpassed Jeff Bezos at one point to become the richest man in the world.
Blink Charging (NASDAQ:BLNK) is an energy storage company with a focus on developing and deploying smart, flexible, cost-effective batteries to the grid. They are currently working on their first project in Southern California where they provide all-electric utility transportation services for the City of San Diego. Blink's goal is to create a more sustainable world by providing clean, reliable power for everyone.
And it’s paying off. Blink has risen by over 1500% since this time last year. And the sky is the limit for this up-and-comer. A wave of new deals, including a collaboration with EnerSys to deploy electric vehicles and charging stations adds further support.
Michael D. Farkas, for his part, the founder, CEO and Executive Chairman of Blink noted, “This is an exciting collaboration with EnerSys because it combines the industry-leading technologies of our two companies to provide user-friendly, high powered, next-generation charging alternatives. We are continuously innovating our product offerings to provide more efficient and convenient charging options to the growing community of EV drivers.”
Nio Inc. (NYSE:NIO) is a Chinese electric vehicle company that was founded in November 2016 by William Li, the CEO of Bitauto and founder of Beijing Automotive Group. In September 2018 they launched their first product, ES8 which is an all-electric SUV with a range of 480 kilometers (300 miles) on a single charge. And the year after, they finally went public. Nio’s debut on public markets wasn’t as exciting as many had hoped for, however. In fact, the company struggled to bat away short sellers and naysayers until 2020. But after reporting a record number of deliveries, launching its revolutionary “Battery-as-a-service” platform, and a multi-billion-dollar bump from Chinese investors, the company’s stock price skyrocketed by 1604%, starting off the year at $59 per share, before falling back to earth and settling at its current price of $42.10.
Though it may not seem like it now, it wasn’t so long ago that analysts and investors alike were ready to write off their losses and give up on electric vehicle manufacturer Nio Inc. In fact, there were even rumors that the automaker was on the brink of bankruptcy. But the Chinese Tesla rival powered on, blew away estimates, and most importantly, kept its balance sheet in line. And its efforts have paid off – in a big way.
Due in large part to its exposure to the renewable energy market, Celestica’s (TSX:CLS) future is tied hand-in-hand with the green energy boom that’s sweeping the world at the moment. It helps build smart and efficient products that integrate the latest in power generation, conversion and management technology to deliver smarter, more efficient grid and off-grid applications for the world’s leading energy equipment manufacturers and developers.
Like the rest of the market, Celestica fell victim to the massive selloff sparked by the global COVID-19 pandemic, seeing its share price fall into the $2 range in March 2020. Since then, however, the stock price has soared by nearly 400% to its current trading price of $8.60.
Maxar Technologies (TSX:MAXR) is a high flying tech stock to watch in the energy transition. Why? Its wholelly-owned subsidiary, SSL, a designer and manufacturer of satellites used by government and commercial enterprises, has pioneered research in electric propulsion systems, lithium-ion power systems and the use of advanced composites on commercial satellites. These innovations are key because they allow satellites to spend more time in orbit, reducing costs and increasing efficiency. And it’s greener than traditional power sources.
Maxar has seen its share of up and downs, but investors are finally taking note on its true potential. While it slumped a little bit earlier in the year, it’s finally starting to gain some traction. And as the company snags more deals, it could very well continue to climb.
Lithium Americas Corp. (TSX:LAC) is one of North America’s most important and successful pure-play lithium companies. And it’s not ignoring the growing demand from investors for responsible and sustainable mining, either. In fact, one of its primary goals is to create a positive impact on society and the environment through its projects. This includes cleaner mining tech, strong workplace safety practices, a range of opportunities for employees, and strong relationships with local governments to ensure that not only are its employees being taken care of, but locals as well.
Lithium Americas is well-positioned to ride the wave of growing lithium demand in the years to come. It’s already raised nearly a billion dollars in equity and debt, showing that investors have a ton of interest in the company’s ambitious plans, and it will likely continue its promising growth and expansion for years to come.
Magna International (TSX:MG) isn’t necessarily an EV producer, but it is a great way to gain exposure to the EV – and by extension ESG – market without betting big on one of the new hot automaker stocks tearing up Robinhood right now.
More than a decade ago, Magna International was already making major moves in the battery market, investing over half a billion dollars in battery production while the market was still in its infancy. At the time, electric vehicles as we know them had barely hit the scene, with Tesla launching its premiere car just two years prior. Magna’s massive investment has paid if in a big way, however. Since its battery bet, the company has seen its valuation soar by tens of billions of dollars, and it has solidified itself as one of the leaders in the business.
Like Magna, Westport Fuel Systems (TSX:WPRT) is another hardware and tech provider in the auto-industry.It builds products to help the transportation industry reduce their carbon footprint. It is an important company to watch as new fuels and new forms of energy take the spotlight. Especially as the world races to leave behind traditional gasoline and diesel-powered vehicles. That’s because, while it is a manufacturing play at heart, it offers a particularly unique way to gain exposure to the alternative fuels market. As a key manufacturer of the hardware needed to build natural gas and other alternative-fueled cars, Westport is definitely a company to watch in this scene.
By. Chris Wintle
**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that the demand for ride sharing services will grow; that Steer can help change car ownership in favor of subscription services; that new tech deals will be signed by Facedrive and deals signed already will increase company revenues; that Facedrive will achieve its plans for manufacturing and selling Tracescan devices; that Facedrive will be able to expand to the US and globally; that Facedrive will be able to fund its capital requirements in the near term and long term; and that Facedrive will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that riders are not as attracted to EV rides as expected; that competitors may offer better or cheaper alternatives to the Facedrive businesses; changing governmental laws and policies; the company’s ability to obtain and retain necessary licensing in each geographical area in which it operates; the success of the company’s expansion activities and whether markets justify additional expansion; the ability of the company to attract drivers who have electric vehicles and hybrid cars; and that the products co-branded by Facedrive may not be as merchantable as expected. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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