Beam Global expands its European sales network by partnering with three new distributors in Romania, North Macedonia, and Albania.
Quiver AI Summary
Beam Global has announced the expansion of its sales network in Europe by partnering with three new businesses: Seltis Glass Design S.R.L. in Romania, Evrosimovski Consulting Ltd. in North Macedonia, and BBA International in Albania. CEO Desmond Wheatley emphasized that these agreements will enhance Beam's sales resources without increasing operating costs, leveraging existing relationships for growth in the European market, which is the largest automotive sector globally. This initiative aligns with the EU's ambitious electric vehicle goals and the projected growth of the electric vehicle charging station market. Beam Global focuses on sustainable infrastructure solutions for electrification and energy security, with operations in the U.S. and Europe.
Potential Positives
- Beam Global is expanding its sales network in Europe with the addition of three new business partners, enhancing its market reach and distribution capabilities.
- This expansion supports Beam Global's strategic growth into the European market, which is set to grow significantly in the electric vehicle sector.
- The partnerships allow Beam Global to leverage existing relationships and contacts without increasing operating costs, enhancing efficiency in scaling their operations.
- Entering a rapidly growing market valued at USD 10.8 billion in 2024, Beam Global positions itself to benefit from the EU's ambitious electric vehicle sales targets for the coming years.
Potential Negatives
- The press release heavily relies on forward-looking statements, which may indicate uncertainty about future performance and outcomes.
- While Beam Global is expanding its sales network, there is no mention of specific financial performance metrics or outcomes, leaving potential investors to question the immediate impact of the expansion.
- The focus on outsourcing sales to distributors may raise concerns about the company's control over its brand and customer relationships in these new markets.
FAQ
What is Beam Global's recent expansion announcement?
Beam Global announced the addition of three new business partners to enhance its sales network in Europe.
Which countries are included in Beam Global's expansion?
Beam Global is expanding its presence in Romania, North Macedonia, and Albania with new business partners.
How does this expansion benefit Beam Global?
This expansion allows Beam Global to increase its audience without adding to operating costs by leveraging existing relationships.
What are the EU electric vehicle market goals?
The EU targets 80% electric vehicle sales by 2030 and 100% by 2035, significantly impacting the market landscape.
Where is Beam Global headquartered?
Beam Global is headquartered in San Diego, California, with additional facilities in Chicago, Illinois, and Serbia.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BEEM Hedge Fund Activity
We have seen 18 institutional investors add shares of $BEEM stock to their portfolio, and 23 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- OAK FAMILY ADVISORS, LLC removed 51,417 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $162,991
- AWM INVESTMENT COMPANY, INC. removed 39,062 shares (-4.1%) from their portfolio in Q3 2024, for an estimated $191,794
- COMMONWEALTH EQUITY SERVICES, LLC removed 31,312 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $153,741
- MILLENNIUM MANAGEMENT LLC removed 26,239 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $128,833
- VIRTU FINANCIAL LLC removed 20,102 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $98,700
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 20,087 shares (+40.0%) to their portfolio in Q3 2024, for an estimated $98,627
- AE WEALTH MANAGEMENT LLC added 16,913 shares (+inf%) to their portfolio in Q3 2024, for an estimated $83,042
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN DIEGO, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Beam Global , (Nasdaq: BEEM ), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced today that it is expanding its sales network in Europe with the addition of three new business partners:
- Seltis Glass Design S.R.L. for the Romanian market
- Evrosimovski Consulting Ltd. for the North Macedonian market
-
BBA International
for the Albanian market
“These distributor agreements with quality companies are an excellent continuation of our efforts to expand our selling resources across Europe,” said Desmond Wheatley, CEO of Beam Global. “We have existing trusted relationships with each of these companies through our Beam Europe operation, and now we are able to leverage their success and contacts to significantly increase our audience without adding to our operating costs. I’m looking forward to supporting the new customers they bring to Beam Global.”
This expansion marks a significant step into Beam Global's strategic growth into Europe, tapping further into the world's largest automotive market. Through the integration of outsourced distributors and agents, Beam Global intensifies its commitment to advancing the electrification of transportation and enhancing energy security with sustainable infrastructure solutions in Europe.
Market Overview (EUROPE)
- The EU has set ambitious targets, mandating that electric vehicles account for 80% of new car sales in 2030 and 100% by 2035 .
- The EU electric vehicle charging station market was valued at USD 10.8 billion in 2024, and is estimated to grow at a CAGR of 29.3% from 2025 to 2034, to support the rapid growth of electric vehicles in Europe.
About Beam Global
Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Chicago, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit
BeamForAll.com
,
LinkedIn
,
YouTube
and
X
(formerly Twitter).
Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
Media Contact
Skyya PR
+1 651-335-0585
[email protected]
Investor Relations
Luke Higgins
+1-858-799-4583
[email protected]