The $1 Trillion Electric Vehicle Boom Is Just Getting Started

FN Media Group Presents Oilprice.com Market Commentary

LONDON, March 4, 2021 /PRNewswire/ -- In 1894, chemist Pedro Salom probably never imagined he'd start what could soon become a $912 billion industry. His creation the Electrobat was unlike anything others had seen at that time. Or would again see for nearly another century. But where the Electrobat, the world's first electric vehicle, could only run for 25 miles on one charge, at just 20 MPH. Mentioned in today's commentary includes: Tesla, Inc. (NASDAQ: TSLA), Toyota Motor Corporation (NYSE: TM), General Motors Company (NYSE: GM), Blink Charging Co. (NASDAQ: BLNK), Fisker (NYSE:FSR).

The EVs of 2021 are expected to have a range of over 500 miles. That's like driving from New York City to Raleigh, NC without stopping to fill your tank once. And that's why EVs are finally reaching a tipping point which has led to massive gains over the last year.

Tesla, the premiere name in EVs, soared for 740% gains in 2020.

Nio, their Chinese counterpart, took off for 1,110% gains.

But there's one other EV related company that's taken off for shocking 860% gains over the last year. And it's one you've likely never heard mentioned on MSNBC, The Wall Street Journal, or Fox Business.

Facedrive (FD,FDVRF), the eco-friendly ridesharing company inked a number of major partnerships and deals over the last year. Including government agencies, A-list celebrities, and global tech titans. And they've taken full advantage of the EV boom in ways to grow their business through creative moves and acquisitions over the last year.

After an impressive showing in 2020, they're off to a quick start in 2021. And if last year is any indication, this may be the year Facedrive becomes a household name.

This Is The EV Tipping Point

The rise of electric vehicles and Tesla's incredible run have been no secret to anyone paying attention to the market. All the biggest companies have been piling in to get a piece of the action, from startups to legacy automakers.

GM announced they're growing an entire EV ecosystem within their business, which they've named BrightDrop. And they've already signed FedEx on as their first customer.

Apple is making the push into electric vehicles, with rumors swirling about their plans to partner up with auto companies like Hyundai and Kia. But the EV markets have gotten the ultimate push with Biden taking office in January after he's declared plans to make green energy and electric vehicles a major part of his platform.

Already, just weeks into his presidency, he's reported that he's planning to invest billions into electric vehicles. Even replacing up to 645,000 government fleet vehicles with EVs in the days ahead. He's also planning to make a massive investment in infrastructure, including building out 550,000 electric vehicle charging stations around the country.

With all the momentum already building in the industry, this is set to be the final push it needed to reach the tipping point and make electric vehicles mainstream. But Facedrive's leadership saw this trend coming years ago and put themselves in position to capitalize on it. And just like the Electrobat was used as the first electric taxi service over 120 years ago. Facedrive (FD,FDVRF) is taking a page out of the history books as it takes the ridesharing world by surprise.

The Biggest Trends On The Markets

Many companies struggled throughout 2020 as businesses were shuttered for months during government lockdowns. But two industries have taken off since the pandemic began: EVs and the tech/biotech solutions focused on tackling COVID-19.

Facedrive's innovative spirit has been on full display over the last year, finding creative ways to participate with the EV markets. But it's also stepped into the business of stopping the spread of COVID-19.

On the electric vehicle front, they've gone beyond just ridesharing with their Facedrive Foods vertical. Now, customers can get food delivered straight to their door from many of their favorite restaurants. And that popular app is taking off in various major cities throughout North America, spreading like wildfire.

Facedrive is also set to help consumers shake up the standard car ownership model, opening the door for customers to start using EVs right away.To do this, they recently acquired electric vehicle subscription company, Steer, from the largest clean energy producer in the United States.

With Steer's subscription model, customers no longer have to put tens of thousands of dollars down to get behind the wheel of an electric vehicle. Instead, you can pay a simple monthly subscription fee like with Netflix. And it gives you access to your own virtual showroom, letting you take your pick between top EV models.

This is helping Facedrive grow their green energy ecosystem by opening the door to customers who don't just need a ride for the night, but need a set of EV wheels for the month. But one of their biggest successes of the last year came with the introduction of their Facedrive Health vertical.

They teamed up to create TraceSCAN, a wearable technology designed to alert users when they've been in contact with someone testing positive for COVID-19.

This bold new approach that can be a game-changer for anyone without a cell phone, including children, seniors, or low-income individuals. But the corporate and government applications have led to the biggest growth in recent months.

Facedrive (FD,FDVRF) has signed major agreements with both the government of Ontario and Canada's largest airline, Air Canada, to use this important new technology. With these new acquisitions and agreements with billion-dollar companies, it's creating a snowball effect for Facedrive to grow its business.

EVs Are Just The Beginning

With the launching of their food delivery, health, and social verticals, they've found a winning strategy to grow the business even during the hardest times. And it's growing faster than ever as they're expanding each of these verticals at an high pace.

Their EV subscription service, Steer, is now operating in Washington DC, and they're planning to roll out the service in Toronto shortly. That means they'll be operating their revolutionary new car non-ownership model in 2 of the largest cities in North America.

Facedrive Foods is gaining steam too after a couple acquisitions in this area. They're now delivering over 4,100 food orders per day on average.  And after growing their food delivery services to 19 major cities in Canada including Toronto, Winnipeg, and Ottawa, they plan to expand to more cities throughout the U.S. and Canada soon. And TraceSCAN is seeing unprecedented levels of interest for Facedrive Health, as they're expanding their agreement with Air Canada after showing success last year. Plus, Facedrive just announced they plan to join an international platform to help grow the reach of TraceSCAN.

With other members including the Australian government and multi-billion dollar tech giant, VMWare, this puts them in good company. It will also help them grow internationally, as they use the platform to make TraceSCAN's technology compatible with contact tracing systems worldwide.

With Facedrive tackling two of the biggest trends on the global markets right now, 2021 could see this innovative young company make a name for themselves across North American and beyond.

The Giants Of Industry Won't Be Left Behind

General Motors (NYSE:GM) is one of the legacy automakers benefiting from a shift from gas-powered to EV technology. With the news of GM's new business unit, BrightDrop, they plan to sell electric vans and services to commercial delivery companies, disrupting the market for delivery logistics.

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.

Ford (NYSE:F) 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. 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 Motors (NYSE:TM) is a massive international car producer who hasn't ignored the transition to greener transportation. In fact, 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 for years to come.

And just because its Prius hasn't exactly aged as well as some green competitors, Toyota hasn't left the green power race yet. Just a few days ago, actually, the giant automaker announced that three new electric vehicles will be coming to United States markets soon.

Toyota has a major hold over U.S. markets at the moment. In fact, it maintains a 75% share of total fuel cell vehicles and a 64% share in hybrid and plug-in vehicles. And now it's looking to capture a greater share of electric vehicles, as well.

Compared to Tesla or the legacy automakers listed above, Fisker (NYSE:FSR) is a relative newcomer to the booming electric vehicle scene, having only IPO'd in October. While it hasn't seen quite the attention other electric vehicle stocks have seen in recent weeks, it is an important company to watch. It's unique in the industry because it boasts the most sustainable vehicle on the road: It's not just electric; it's also is made with some recycled materials. That's a huge plus considering how much investors are focusing on sustainability these days.

It's becoming increasingly clear that Fisker is going places. The four-year old California based EV provider is already turning heads thanks to its innovative battery tech, and it's already securing some major deals. In fact, just last month, Fisker signed a deal with Viggo, a European ride-hailing service to add hundreds of vehicles to its fleet.

Blink Charging (NASDAQ:BLNK) was one of the darlings of the EV boom throughout 2020 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.

In addition to the company's string of high-profile deals, Blink is also consistently posting promising revenues. In fact, earlier this month, the company noted that third-quarter revenue had increased by as much as 18% from the year before despite disruptions caused by the COVID-19 pandemic.

By. Jozef Dvorak

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

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 Facedrive will achieve its plans for manufacturing and selling Tracescan devices; that new tech deals will be signed by Facedrive and deals signed already will increase company revenues; 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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