TSLA - Bringing EVs to the Masses
Tesla, Inc (NASDAQ: TSLA) is still the EV leader in critical technical areas, with its most relevant long-term advantage being the software along with its integrated electric powertrain, “relentless engineering ,” digitization and autonomous driving features. However, new entrants are coming and traditional automakers are picking up the pace.
Worksport is under the spotlight
A well-established tonneau cover manufacturer, Worksport Ltd. (OTC: WKSP), is is pioneering with a number of amazing developments underway that are bringing the EV game to the next level. Last year, the company launched its revolutionary TerraVis solar system that can generate and store renewable power even independently. The company already partnered with two EV manufacturers, Atlis Motor Vehicles and Hercules Electric Vehicles, to configure its system for their upcoming electric pickups.
After its wildly successful Reg-A offering, the company announced this morning that it will present at the Inaugural Emerging Growth Virtual Conference, hosted by M Vest LLC and Maxim Group LLC. on March 18th. Mr Rossi will be given the opportunity to reveal how will the company’s emerging innovations make a positive and lasting impact on the EV & sustainable energy.
The Japanese giant is finally ready to start showing off some EVs
According to a microsite launched Wednesday, Toyota Motor (NYSE: TM) is ready to show off an EV for the European market after announcing earlier this year that it’s gearing up to release its first mass market EV for the US. The Japanese giant announced earlier this year that it’s gearing up for the release of its first mass-market EVs for the US, but now it also appears ready to show off one for Europe as soon as next week or more precisely, March 17 th . For now, it is merely showing a single headlight of a vehicle called X Prologue. Toyota had previously announced plans to reveal a Rav4-sized electric SUV aimed at the European market sometime in 2021, so it’s possible that could be it but the company is keeping it under wraps.
Volkswagen is charging ahead
The automotive giant Volkswagen (OTC: VWAGY) is seriously emerging as Tesla’s strongest competitor. The group owns brands such as Audi, Porsche, Bentley, Bugatti, and Lamborghini and last year, it overtook Tesla to become Europe’s most dominant electric vehicle group and now controls between 20% and 25% of the market. Europe is the world’s largest market after China. UBS analysts rate Volkswagen as the “best EV transition story” in the global automotive manufacturing field.
Outlook
All of this means the battle to be the dominant electric automaker will intensify more than ever. UBS analysts predict that Tesla and Volkswagen will be the world leaders in electric car sales in the coming years as the German giant is expected to catch up with in terms of total volume of vehicles sold in 2022, when each of the two companies should be able to deliver about 1.2 million vehicles. But, as the world’s first electric pickup comes to life this year along with many other new developments and possible partnerships in store, the EV race is yet to begin.
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