While the EV boom has been growing for years, 2021 could be the year electric starts to take over everything.
And it could happen much sooner than most people realize, as some of the biggest names are already hopping on board.
Amazon has already started making deliveries with electric vans in Los Angeles, as they’ve agreed to purchase 100,000 vans from EV startup, Rivian.
The United States Postal Service just signed a 10-year, multi-billion dollar contract with Oshkosh Defense to produce thousands of electric mail trucks.
And United Airlines just placed an incredible $1 billion order with EV manufacturer, Archer, for a fleet of electric air taxis.
Legacy automakers are all making the shift too, rolling out their line of electric vehicles one by one.
Ford is set to double their 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.
Volkswagen is calling their 2021 electric crossover, the ID.4, “the most important new Volkswagen debut since the Beetle.”
And General Motors has even announced they’ll stop making gas-powered vehicles altogether by 2035.
Now, Biden has even announced plans to transition all government fleet vehicles to EVs.
This electric revolution has already led to monster gains for EV companies throughout 2020.
The EV van startup, Workhorse, saw gains of over 551%...
Tesla’s shares shot up a massive 740%...
And Blink Charging soared for incredible 1,740% gains last year.
Now, many investors are looking ahead for the next big thing in the EV markets.
And one Canadian company in EV related business has seen its momentum building steadily over the last year.
With these acquisitions, they’ve brought the EV boom into food delivery, car subscriptions, and more.
And now that Facedrive has announced a major government investment in their technology, their business could be set to take off in 2021.
Here are 3 reasons why you should be paying attention to Facedrive:
1 - Bringing EVs to the Gig Economy
Many of the biggest EV stories of late have come from either the automakers rolling out new models or companies working on building out the infrastructure...
But Facedrive is taking a different approach.
Instead, they’re using the cars those automakers have already made and turning them into an entire EV-related ecosystem.
So just like Uber has built their $96 billion business off leveraging cars they never manufactured, bought, or sold…
Facedrive connects customers looking to hail a ride, providing an eco-friendly solution.
Their model is simple.
When customers request a ride, they get their pick between riding to their destination in a standard gas-powered car, a hybrid or an electric vehicle (for no extra charge to them).
Then 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 technology and partnerships, they’re bringing EVs into the gig economy and making a splash.
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 throughout 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
At this point there’s no question there’s a growing demand for EVs from consumers, as this trend has spread from Europe and Asia and through North America.
And almost 3 out of 4 younger buyers even say they’re willing to pay higher prices to own an electric vehicle.
But with Facedrive’s acquisition of Steer, you can get the benefits without the large upfront cost.
Facedrive (TSXV:FD,OTC:FDVRF) 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.
Steer has combined the Netflix subscription model with the EV boom to flip the 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 choice of EVs from a fleet at their disposal.
So they can borrow one whenever they need it instead of buying an EV outright - and at a fraction of the cost.
They’re up and running in the Washington D.C. market already…
And they’ve seen so much success there that they’ve decided to expand further north, to roll out the service in Toronto as well.
With two of the largest metro areas in North America in the mix, Facedrive has started paving the path for a completely unique way to save drivers money in the EV boom.
But their biggest announcement recently came thanks to their willingness to think outside the box and serve the most pressing need we’re seeing today.
3 - Taking On The Biggest Challenges
By 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 surged 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 breakthrough technology.
They’re also in discussions to continue TraceSCAN’s growth with major multinational corporations.
But perhaps the most exciting news came from a government announcement in Canada just weeks ago.
In February, the Ontario government announced they’re investing $2.5 million to help speed up the deployment of TraceSCAN to more users.
This means TraceSCAN’s technology has gotten another vote of confidence in their innovative technology... to the tune of millions from the government.
As governments and businesses around the world are doing whatever they can to stop the spread of the virus, this major announcement could help bring attention to Facedrive’s TraceSCAN technology…
Applying more pressure to other organizations and governments to act responsibly and start investing more seriously in contact tracing technology.
Setting Up For Electric Everything in 2021
As 2021 heats up, we’re seeing that the EV boom isn’t just limited to manufacturing sedans anymore.
It involves building an entire electric ecosystem and re-imagining what transportation looks like on all fronts.
That’s why Facedrive aims see their growth wave continue as they bring EVs to ridesharing, food delivery, and beyond.
Here are a few other companies who could profit in the electric future:
Tesla (NASDAQ:TSLA) is a company that has redefined the automotive industry with their electric cars. The Tesla Model S was one of the first fully electric vehicles on the market and it's still one of the best. If you're wondering if an all-electric car is right for you, read this blog post to learn more about what makes Tesla different from other EV manufacturers.
Tesla has been one of the hottest stocks on the market for the past two years. And that’s largely thanks to its CEO and hypeman, Elon Musk. As a visionary in the tech world, Musk built his empire on PayPal and then pivoted to a cause closer to his heart, Tesla. Musk has had his eye on prize long before the green energy hype started building. Tesla isn’t just about cars, however, it’s diving head first into the battery market, as well. And by extension, could completely transform renewable energy as we know it. Tesla’s battery technology is a game-changer because batteries will be the first big step towards decentralized electric grids, another innovation fueled by the dramatic rise of blockchain technology, another cause that Musk is passionate about.
NIO Limited (NYSE:NIO) is another company that manufactures all-electric vehicles. The company's headquarters are located in Shanghai, China and they have manufacturing facilities in Nanjing, Jiangsu Province; Pune, Maharashtra; Lancaster, California; Tilburg, Netherlands and San José dos Campos, São Paulo State. Nio was founded on September 12th 2015 by William Li. NIO has raised $1 billion since the start of their first round of funding back in 2014 with investors including Tencent Holdings Ltd., Temasek Holdings Pte. Ltd., Baidu Inc., Sequoia Capital as well as other prominent firms such as GIC Private Limited (formerly known as Government of Singapore Investment Corporation) and TPG Growth among others.
Nio had an incredible 2020, taking the market by storm. And it’s surprising because no one could have imagined how successful the company was going to be. Investors were ready to leave it for dead. But Nio powered on, blew away estimates, and most importantly, kept its balance sheet in line. And it’s paid off. In a big way.
In addition to its automotive push, however, Nio, Tesla’s largest competitor in China, has also started to offer a batteries-as-a-service concept, in which car buyers can ‘lease’ the battery of their vehicle and save as much as $10,000 on the price of a new vehicle, while also offering buyers the option to swap batteries after a few years of use. And that’s huge news in the lithium world, because it will mean give miners even greater incentive to sign deals with the battery innovator.
General Motors (NYSE:GM) is one of the world's largest and most recognizable automakers. They have a wide variety of vehicles to suit every kind of budget, with their Chevrolet brand being one of the best-selling in America. GM has been around for over 100 years and has always had a focus on technology, innovation, safety, sustainability and value. What started as just the Buick car company back in 1904 is now an internationally recognized name that produces cars in 34 countries across six continents.
just started a joint venture with Korea’s LG Chem to mass produce next-gen battery cells for electric vehicles, together investing $2.3 billion over the next few years. That’s not all its working on, either. In October, auto industry legend, GM announced that its 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.
Cruise CEO Dan Ammann wrote in a Medium post, “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.”
Ford (NYSE:F) is one of the most recognized automakers in the world. In the late 1800s, Henry Ford transformed the automobile industry by creating a car that was affordable to most Americans. He also made it possible for people to buy their own cars with installment plans. This allowed for more people in America to have access to transportation and do things they couldn't before such as travel farther distances or move away from home. Car ownership would eventually come with privileges like being able to vote, drive without restrictions, and make purchases without relying on others.
Ford is another Detroit automaker making the jump to EVs - and seeing shares jump in the process. They recently announced they’ll be boosting their spending on EVs to $27 billion through mid-decade. That big investment includes plans of their own to develop an electric cargo van and a plug-in version of their bestseller F-150 pickup truck.
Ford isn’t going to be left out of the autonomous vehicle boom, either. The company, for its part, 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.
Blink Charging (NASDAQ:BLNK) is an innovative company that has created a solution for electric vehicle owners to charge their car in the blink of an eye. Blink's technology allows drivers to pull up and plug in, then walk away as the car charges. This means more time spent on other tasks or with family instead of waiting around for your battery to fill up!
Blink chargers are currently available at over 300 locations across North America and Europe. They're also expanding into airports, hotels, restaurants, and gas stations--perfect for those who don't have access to home charging facilities. Blink Charging is revolutionizing the way we think about electric vehicles by making them accessible anywhere you go!
Blink was one of the darlings of the EV boom last year because of its expansion in EV charging technology. With their chargers deployed at airports, car dealers, hospitals, restaurants, retailers, and schools across the nation, Blink recently saw shares jump 76% in just one month. A wave of new deals, including a collaboration with EnerSys and another with Envoy Technologies to deploy electric vehicles and charging stations adds further support to its success.
Michael D. Farkas, 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.”
Canada is ramping up its own electric vehicle push, as well. GreenPower Motor (NASDAQ:GP, TSX:GPV) is a company that was founded in 2007 and has been providing motors for the green energy industry. They've used their know-how to produce high quality, efficient and cost effective motors. The company's products are used by some of the world's top manufacturers such as Caterpillar, Komatsu, GE Energy and Siemens. GreenPower Motor offers a range of new services including Power Plant Designing Services and Consulting Services which help clients understand how they can improve power plant efficiency using electric motors.
Right now, it is primarily focused on the North American market, but the sky is the limit as the pressure to go green grows. GreenPower has been on the frontlines of the electric movement, manufacturing affordable battery-electric busses and trucks for over ten years. From school busses to long-distance public transit, GreenPower’s impact on the sector can’t be ignored.
Lithium Americas Corp. (NYSE:LAC, TSX:LAC) is a leading producer of lithium and has been developing the Salar de Atacama in Chile for over 20 years. The company's focus on responsible production practices, employee safety, and environmental stewardship have earned them top rankings among mining companies
In a way, Lithium Americas is literally fueling the green energy boom. With two world-class lithium projects in Argentina and Nevada, 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.
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.
NFI Group (TSX:NFI) is a manufacturer of electric vehicles. The company has been in the business for over 50 years, and they are best known for their innovative design that offers high-quality and low-cost options. They have built more than 10 million cars worldwide, which means they know what they’re doing! NFI Group manufactures electric vehicle components as well as complete vehicles. Their factory produces battery packs, motors, controllers, chargers, inverters and other electrical equipment to meet all types of customer requirements.
NFI produces transit busses and motorcycles, as well. NFI had a difficult start to the year, but it since cut its debt and begun to address its cash flow struggles in a meaningful way. Though it remains down from January highs, NFI still offers investors a promising opportunity to capitalize on the electric vehicle boom.
Celestica (TSX:CLS) is closely tied to the green energy boom. Celestica’s wide range of products includes but is not limited to communications solutions, enterprise and cloud services, aerospace and defense products, renewable energy and enough health technology.
Thanks to its exposure to the renewable energy market, Celestica’s 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.
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.
Thanks to Maxar’s incredible tech and innovative approach to the already-extremely complicated space industry, the company has seen its share price climb where many of its peers have struggled. In fact, in just the past two years, Maxar has seen its share price increase by well over 1000%. And as the company secures more deals in the great beyond, the innovative firm will likely maintain its upward trajectory for some time.
Another way to gain exposure to the electric vehicle industry is through AutoCanada (TSX:ACQ), a company that operates auto-dealerships through Canada. The company carries a wide variety of new and used vehicles and has all types of financial options available to fit the needs of any consumer. While sales have slumped this year due to the COVID-19 pandemic, AutoCanada will likely see a rebound as both buying power and the demand for electric vehicles increases. As more new exciting EVs hit the market, AutoCanada will surely be able to ride the wave.
Shaw Communications Inc. (TSX:SJR) is major player in the Canadian telecoms sector. It owns a ton of infrastructure throughout Canada and its cloud services and open-source projects look to address some of the biggest issues that its customers might face before the customers even face them. As online gaming depends on solid internet connections, Shaw will likely become a backdoor benefactor in increased online activity. Not only that, it’s growing higher on ESG investors’ lists, as well, thanks to its forward-thinking approach to the environment and its governance.
By. Max Gibson
**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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