Beam Global Partners With Platinum Group UAE, Launches JV

Beam Global BEEM announced that it has entered into a strategic joint venture agreement with Platinum Group LLC, based in the United Arab Emirates (UAE), to manufacture and sell patented solutions in the Middle East and Africa by leveraging the latter’s influence and relationships in the region. Platinum Group UAE is a well-known name in the industry with an unrivalled position and trusted relationships across the industry and government.

Beam Global plans to tap the emerging opportunities in the region, owing to the plans to develop smart cities. The region already exhibits high adoption of electric vehicles (EVs), renewables and energy storage. With abundant sunshine and robust growth scenarios in the Middle East, Beam Global’s solutions align perfectly with government planning. The newly formed entity, Beam Middle East LLC, will provide solutions for transportation electrification, energy storage, energy security and smart city development.

Beam Middle East LLC is equally owned by the two companies headquartered in Masdar City. It will manufacture and sell Beam Global’s patented solutions by leveraging Platinum’s existing relationships to coordinate local sales. In the pursuit of geographic diversification, Platinum Group will contribute with its reputation, influence and relationships in the capital.

BEEM stock has slumped 64.1% over the past year compared with the industry’s 2.1% decline.

BEEM’s Zacks Rank & Key Picks

BEEM currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the auto space are Allison Transmission Holdings ALSN, Luminar Technologies LAZR and Westport Fuel Systems WPRT. While ALSN currently sports a Zacks Rank #1 (Strong Buy), LAZR and WPRT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for ALSN’s current-year earnings is pegged at $8.83 per share, indicating a 6.26% year-over-year rise.Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.68%. ALSN’s shares have gained 25.4% in the past year.

The Zacks Consensus Estimate for Luminar’s 2025 loss is pegged at $4.29 per share, indicating an improvement of 53.57% from year-ago levels. The company’s earnings beat the consensus estimate in each of the trailing four quarters, with an average surprise of 11.79%.

The Zacks Consensus Estimate for WPRT’s 2025 loss is pegged at $1.27 per share, indicating an improvement of 40.93% from year-ago levels. The company’s earnings beat the consensus estimate in three of the trailing four quarters.  

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This article originally published on Zacks Investment Research (zacks.com).

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