10/19/2020 | Press release | Distributed by Public on 10/20/2020 05:07
Yesterday, California's Governor Gavin Newsom joined seventeen countries including Canada, the UK, Germany and France, when he signed an order that aims to ban the sale of gasoline and diesel cars by 2035. History shows us that as goes California, so goes the rest of the U.S. (where things to do with cars are concerned at least).
This is very important news for Beam Global. EVs are, in my opinion, the only realistic replacement for the gasoline cars that will no longer be sold in the state. The latest data I can pull shows that there were a little over 15 million automobiles registered in California in 2018. That number is sure to have risen since. Experts state that a good ratio of EVs to public EV chargers is about five to one so California should need about three million public EV chargers, or two hundred thousand a year for the next fourteen years. It makes sense that the EV chargers have to come in advance of the EVs.
It can take a long time, and cost a lot of money, to install grid-tied chargers and California's utility grid is already under strain with existing loads, meaning that significant upgrades will be required.
Beam's EV ARC™ outside the California State Capital.
Beam has the only transportable but permanent, rapidly deployed, grid independent, EV charging infrastructure products. They are entirely powered with renewable energy and so fit perfectly with the Governor's goals of carbon and greenhouse gas reductions. We support all quality brands of EV chargers. This means that no matter who does well in the space, we will be there to make their products work.
The deployment of EV charging, without permitting, construction, electrical work and utility bills will be essential if we are to provide for the massive demand that is surely coming. Beam already provides such a solution to cities, states and businesses across the U.S. EV charging that continues to work during blackouts is an imperative - our products do that too.
I estimate that we can produce as many as 2200 units per year from our current facility which would equate to roughly $140 million in annual revenues. I have often said that I believe we will need five or six more facilities across the U.S. to meet demand. Maybe I should have said across California.
Finally, Governor Newsom's order also says that medium and heavy-duty vehicles should be zero-emission by 2045 where feasible. I am in Fresno County today, observing the deployment of our first solar-powered heavy-duty vehicle charging products.
It's a great time to be doing what we are doing. Thank you for being involved.
Desmond Wheatley, CEO Beam Global
About Beam Global
Beam Global produces innovative, sustainable technology enabling electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption and costs of grid-tied solutions. Our products include our patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.
We develop, patent, design, engineer and manufacture unique and advanced renewably energized products that save our customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly EVSI and EVSIW). For more information visit BeamForAll.com, LinkedIn, YouTube and Twitter.
Forward Looking Statements Disclaimer
This Beam Global Communication may contain forward-looking statements. All statements in this communication other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as 'estimate,' 'project,' 'predict,' 'believe,' 'expect,' 'anticipate,' 'target,' 'plan,' 'intend,' 'seek,' 'goal,' 'will,' 'should,' 'may,' or other words and similar expressions that convey the uncertainty of future events or results.
The Bulleit Group