Datametrex AI Ltd V.DM

Major EV charging network to compete with Canadian providers

[Oden6570]

Datametrex Electric Vehicle Solutions

Datametrex Electric Vehicle Solutions (EVS), a subsidiary of Datametrex (TSXV:DM) a diversified technology company, recently announced the expansion of its EV charging infrastructure into Toronto.

Installation and permitting are underway at an initial location, allowing the subsidiary to take advantage of Toronto’s EV Station Fund, which refunds up to 50 per cent of installation costs for up to 20 EV charging stations (maximum C$5,000 per Level 2 charger, C$15,000 per DC fast charger and C$50,000 per DC faster+ charger).

While the refunds will stabilize cash flows toward DM EVS’s long-term growth, the subsidiary may find itself forced to settle for smaller niche contracts to achieve it, given how the seven automakers’ large scale requires commensurate ventures to move the needle on profitability.

DM EVS’s Toronto expansion coincides with new strides in Vancouver, where numerous charging locations are in the final stages of permitting amid a growing sales pipeline. Its recent five-year deal with Holiday Inn Vancouver is another example of the hyper-local contracts new Canadian EV charging companies may find most accretive to shareholder value.

Datametrex (TSXV:DM) is down by 45.83 per cent over the past year but has gained 550 per cent since inception. The C$25 million market cap company’s ventures in AI, EVs, healthcare and cybersecurity have generated considerable buzz among TMH readers, who see a bright future for the stock in spite of intermittent profitability.
Major EV charging network to compete with Canadian providers | 2023-07-27 | Investing News | Stockhouse

[rollthedice10]

DMEVS has a good head start in Canada for sure. And according to the article, this combined network of automakers won't even begin in the USA until Summer 2024. My bet is later than that. Then they will look north to Canada at some point. So, while they are busy in the USA DMEVS will be busy in Canada scooping up the low hanging fruit. I don't think any Canadian firms will want to wait 2

[inviolablspirit]

I'm not surprised by the article as the auto companies need to get a large number of fastchargers on the highways and in the cities for EV to work conveniently for EV car owners on longer road trips.  This would be no different then implementing a large number of gas stations by the gas companies.  The infrastructure for the gas stations took nearly 100yrs to get to the level we have

[inviolablspirit]

I see the article headline as a little misleading.  DMEVS is not there to "Compete" with the automakers, but instead address and provide additional EV service for further EV convenience in other areas. It has never been DMEVS intention to provide highway fastchargers, so they are not in competition.   DMEVS clientele is not what the automakers are developing. The automakers

[inviolablspirit]

Sorry, my apologies.  Correction to my first post.  DM has never collaborated with Samsung, DM is just the exclusive partner with EVAR, a Samsung spin-off company.  My mistake.