The electric vehicle (EV) revolution has begun, and there is no shortage of stocks to pick from as companies try to establish their credentials building the autos of the future. President Biden has already committed to spending $174 billion on boosting the electric vehicle market. Every major car company on earth is now pursuing its own EV project.
Biden’s proposal calls for 500,000 new charging stations, a more than tenfold increase of the current number that would go a long way toward easing the concerns of Americans who aren’t ready to embrace electric cars. Each station typically offers several to a dozen or more plugs.
Adding local charging stations is the No. 1 factor that would drive more Americans to buy EVs, according to a February survey of car owners by car-buying site CarGurus. About 65% of respondents said additional stations would help convince them to take the plunge.
Some stocks, most notably NIHK, have been highfliers as excitement about electric vehicles has grown.
For long term investors looking for exposure to the booming electric vehicles, Video River Networks, Inc. (OTC:NIHK) could light up your portfolio this year
Video River Networks, Inc. (OTC: NIHK) is an Electric Vehicles and Battery Technology holding company that operates and manages a portfolio of Electric Vehicles, Artificial Intelligence, Machine Learning and Robotics (“EV-AI-ML-R”) assets, businesses and operations in North America. The Company’s current and target portfolio businesses and assets include operations that design, develop, manufacture and sell high-performance fully electric vehicles and design, manufacture, install and sell Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices mostly engineered through Artificial Intelligence, Machine Learning and Robotic technologies.
NIHK’s current technology-focused business model is a result of our board resolution on September 15, 2020 to spin-in/off our specialty real estate holding business to an operating subsidiary and then pivot back to being a technology company. The Company has now returned back to its original technology-focused businesses of Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-critical devices.
Video River Networks, Inc. (OTC:NIHK) recently announced that its wholly owned subsidiary, American Electric Vehicles and Battery Technology, Inc. has entered Joint Venture (“JV”) with China’s Lingstar Co., a Chinese Electric Vehicles Company to Create Xian Levs Electric Vehicles and Battery Technology Development Co. Ltd.
New joint venture entity will combine Video River Networks’ rollup integration experience and financial expertise with Lingstar’s EV industry expertise in China to help stakeholders maximize the value of their investments.
Through this Joint Venture, Video River Networks, Inc. would establish an operational base in China to source, design, develop, manufacture high-quality and affordable, high-performance fully electric vehicles, which it intends to distribute in North America.
The joint venture is expected to begin operations before the end of Q2, 2021, subject to regulatory approvals and other customary conditions.
The kind of volatility and momentum seen lately in NIHK shares isn’t unusual for a company who is in the electric vehicles related area. The company is a thinly traded OTC stock, meaning it is highly susceptible to volatile swings on more than average volume.
