Due to consequences of environmental pollution and the climate change, the whole world is gradually switching to the renewable energy sources, marking a true era of energy revolution. Solar energy is in high demand all around the globe. The global solar energy industry has witnessed a significant growth over the recent decades all over the globe with massive potential yet to grow. Consequently, world's solar energy companies are enjoying increasing demand and rising sales. And in business, there are always top players who are leading the way.
The International Energy Agency (IEA) estimated that the total global solar photovoltaic power generation will reach 1,121TWh by 2022. As for the world's largest solar energy market both in terms of solar energy production and solar power consumption is China. As a matter of fact, IEA suggests that China's rapid increase of 53 GW capacity in 2017 was the major contributor to the overall global solar energy capacity growth.
In early 2018, China even surpassed its 2020 solar PV target outlined in its 13th Five-Year Plan. And since 2012, China's share of global PV demand has grown from 10% to more than 55%.
For this reason, many China's major solar energy companies are also the world's leaders in this market. But the global solar energy market size is being boosted by rising concerns of environmental pollution and provision of government incentives to install solar panels. And there are increasing investments in renewable energy sector, also contributing to market growth.
Headquartered in Shanghai, China, JinkoSolar (NYSE: JKS) is currently both one of world's largest solar energy companies and top solar panel manufacturers. It sells its solutions and services to a diversified international utility all over the world. And It was just awarded the ‘Top Brand PV Europe Seal 2020' by internationally recognized research institute EuPD Research for the second consecutive year.
Canadian Solar Inc
Moving on to a different continent, Canadian Solar (NASDAQ: CSIQ), headquartered in Ontario, Canada, is also one of the largest solar panel manufacturers in the world, providing advanced solar energy solutions.
Franchise Holdings International Inc
Now this is when things get really interesting as Franchise Holdings International (OTC: FNHI) is bringing the best of both worlds. The company is bringing solar power and technology to the auto market and announced this week that they will start selling their products on Amazon.com, Inc. (NASDAQ: AMZN). Speaking of technology which can change the course of the entire electric era that is upon us and led by Tesla Inc (NASDAQ: TSLA).
Due to its innovative technology, accelerating revenue growth and innovative products is what this company is all about. Franchise Holdings International is the holding company of Worksport Limited, an innovative automotive tech company that literally reinvented Truck bed covers with Solar technology.
The Miracle Combo- Solar Energy, Electric Vehicles, Pickup Truck Sales And Pickup Truck Bed Covers
These are all growing markets which will only show accelerate growth over the combining years. By integrating solar technology within tonneau covers, Worksport (fully owned subsidiary of Franchise Holdings International) developed a solar power generating truck bed cover to have power on demand both for work and sport outdoor activity. But its true potential lies in extending the driving range of the fast growing global market of Electric pickup trucks.
And That Brings Us To...
Tesla's Cybertruck is about to enter the market next year. Its controversial looks aside, the Cybertruck objectively has the features and specs that can disrupt the EV segment entirely. Yet there are psychological barriers that work against the vehicle's favor, and one of them may very well be Tesla's reputation as a California-bred, Silicon Valley-based company that makes sleek, futuristic cars – read: not the tough kind. On the other hand, veterans like Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), and others have this factor on their side for their own upcoming electric trucks.
Giga Texas Could Solve Tesla's Cowboy problem
Texas is a large market for pickup trucks as this vehicle is so popular in the Lone Star state. Texas accounts for about one of every six pickups sold in the United States and with one of the most popular vehicles in the country, this is nothing less of a goldmine that Tesla can tap into – provided it manages to appeal to consumers.
If Giga Texas does work out, it will be difficult for Texas' regulators and truck buyers to not support the vehicle as it is already compelling enough with its specs, features, and price alone. Add by being built by American labour at the heart of pickup country, it could even become the symbol of the US' next-generation of trucking.
And it could even open up the state to more of the Tesla's vehicles as well.
But Texas aside, the demand for the Cybertruck has been impressive so far, with the company getting enough orders to correspond to several years' worth of production.
Great News For FNHI
The International Energy Agency (IEA) forecasted for electric vehicles to grow from 3 million to 125-220 million by 2030. With companies as Tesla, Workhorse (NASDAQ: WKHS) and Volkswagen (OTC: VWAGY) developing electric pickup trucks, with others hopping on the electric vehicles train like Fiat Chrysler Automobiles' JEEP (NYSE: FCAU), Range Rover, BMW (OTC: BMWYY), Mercedes, Audi and a bunch of other players around the globe, this is all beyond good news for Franchise Holdings International. The SEMA research shows that truck bed cover sales almost doubled in just 3 years time it means all product lines of Worksport will benefit from several growing markets.
Countless Opportunities Ahead For FNHI
The solar truck bed covers will benefit both from the very young and fast-growing electric vehicles market and the enormous and also fast-growing renewable energy market. Moreover, with different ways of implementing their technology through partnerships or licence deals in the future, there are countless more opportunities when it comes to these new innovative revenue sources.
And due to its admirable portfolio of intellectual property under its belt, investors can rest assured no company can go around FNHI. And the most reassuring thing at the end of the day is: you can always sleep well knowing that ‘the Sun will come out tomorrow'.
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