The EV sector is set to explode in the up and coming decade. Biden wants to have 500,000 EV charging stations across the nation, about 20 times more than currently exists. Now while there are various EV charging stations Beam is the only renewable, transportable, off-grid EV charging option in the entire market thus propelling itself ahead of its rivals. By 2024, revenue is expected to reach $88 million which is a 15 times increase from current revenue. Beam's prime product the EV ARC supplies the needed energy for EV's without a grid connection, electric supply, and major construction. The EV ARC is the only 100% renewable energy portable EV Charging Company and in the event of power outages their ARC can still charge up to 6 vehicles whilst also not creating utility bills. Beam Global has also recently received their biggest order for their Arcs from the State of California in the amount of 52 EV ARCS which can boost the chancing of the company becoming profitable in the near quarters. In addition, the EV ARC can be deployed in minutes with no need for a permit and works with various other Brand EV charging. It's essentially a win-win situation as Beam is in no direct contest with other EV charging companies.
People often overlook the continued reiteration of 'scalability from Desmond- Ceo of Beam- in reference to his ARCS but it's an essential factor as it indicates the companies chances of expanding its business without severely increasing expenses. EV standard, solar tree, and drone chargings are also further products within their pipeline but are yet to be released. The Ev Standard has no given timeline but in my eyes, it should have been out by now but we'll have to wait and see but I firmly believe the drone chargings is their darkhorse product as the shift towards drone deliveries ensues. Beam Global remains an excellent long-term hold for those that have patience but for those who don't have a long-term horizon and still plan to invest in Beam, I'd be very careful as this company is very sensitive to red markets due to the low float. Beam Global remains my favourite investment in the stock market and I'm excited to see how the company performs in the coming years!