AMZN - Software Is Eating the World and Cars Are Next on the Menu
As vehicles become more like super devices, exciting tech developments are on the horizon that promise to revolutionize the transportation system. Reports about even Apple (NASDAQ: AAPL) getting in the automobile industry continue to grow with innovative companies such as the Canadian-based Worksport Ltd (OTC: WKSP) are going full speed ahead to make their contribution in the EV revolution.
Worksport
The tonneau cover manufacturer known for its innovative and affordable portfolio has provided an update on one of its recent strategic partnerships. Under a two-year contract, Worksport has forged a working relationship with Ontario Tech University which gives the established tonneau designer access to the world-class ACE Testing Facility. Professor Sheldon Williamson, PhD, the Canada Chair of Research in Electric Energy Storage Systems for Transportation Electrification will be bringing in his extensive expertise from working with and advising legendary automakers such as Ford Motor (NYSE: F) and General Motors (NYSE: GM). The immediate goals of this partnership are to finish prototyping Worksport’s TerraVis Version 1 line of products by the end of the third quarter, with complete validation and fine-tuning for showtime planned for the fourth quarter of the year, with goals to accelerate full-throttle manufacturing in 2022 and beyond. After diligent testing, this solar fusion that both generates and stores renewable energy will be able to work in any environment and through all types of conditions. For the second version of the TerraVis and beyond, the team’s market-bending technology improvements will target system optimizations, such as component count, cost, and reliability, in order to boost operational efficiencies up to 96%. Dr. Williamson and Worksport’s “engineereing dream team”will also be focused on researching newer and highly efficient ways of transferring solar energy into useable electricity, paving the path for Worksport to become the consumer go-to for true green electric applications.
Ontario Tech University, with its plethora of physical and intellectual resources, in conjunction with Worksport’s know-how and product line, promises exciting new improvements in the company’s product lines, with TerraVis technology already being configured for two upcoming electric pickups, namely, the Atlis XT and the Hercules Alpha.
Everyone is shifting from hardware to software
Many tech companies, including Intel Corporation (NASDAQ: INTC), Nvidia Corporation (NASDAQ: NVDA), Huawei, Baidu Inc (NASDAQ: BIDU), Amazon.com Inc (NASDAQ: AMZN) and Google parent Alphabet (NASDAQ: AMZN) are going after their piece of the EV pie. Meanwhile, traditional auto makers like Ford,General Motors, Toyota Motor (OTC: TM) , Daimler AG (OTC: DDAIF) and Volkswagen (OTC: DDAIF) plus longtime automotive suppliers such as Bosch and Magna International (NYSE: MGA) are also going full speed ahead in transforming their business models for the EV era, In other words, they are trying to become more like tech companies.
Rumors of Apple boarding the EV train with an autonomous vehicle
Now that the car is evolving into essentially a smartphone on wheels, there have been indications that Apple is interested in waiting for the perfect opportunity to join the game. The Wall Street Journal reported that Apple may be close to making a smart EV, or at the very least partnering with an automaker. Then again, the first reports date back to early 2015, when a camera-equipped minivan was seen to be leased to Apple. When Apple’s partnership talks with Hyundai broke down in February, possibly over Hyundai’s concerns about being absorbed into the Apple Borg, Nissan signaled immediately after it will gladly take its place. On the other hand, there is any tech company on earth with the resources to go it alone, and become a new auto maker from zero, it’s Apple.
Knowing Apple, it is almost certain that it is very actively exploring for a way to redefine EVs , but what nobody knows is whether it aims to create a car or a tech platform or maybe even a service- at this point, it showed it is capable of pulling off pretty much anything.
A trillion-dollar revolution
Back in March, Toyota chief Akio Toyoda warned Apple should prepare itself for a 40-year commitment if it enters this race. This makes sense, especially if the goal turns out to be not merely to create a car, but to redefine an existing one and therefore, replace a significant portion of the world’s 1.4 billion cars with a completely autonomous, emissions-free and radically transformed vehicle. However, Apple already pulled off such a revolution.
From hardware to software
First, there was the transition from internal combustion engines to electric motors, which have fewermechanical parts. Now, there is already a second shift under way- a self-driving future. As Jim Adler, managing director of Toyota AI Ventures, put it: Software is eating the world, and cars are next on the menu”.
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