WKSP - The Sky Is the Limit for EVs
2020 has been an absurd year in many ways, but it has been a fantastic year for some lucky industries such as e-commerce and electric vehicles. Tesla (NASDAQ: TSLA), NIO (NYSE: NIO) and newcomer Li Automobile (NYSE: LI) have seen their share price explode by 409%, 1158% and 84% since January. As if these triple digits weren’t impressive enough, even more upside is expected. Xpeng Inc (NYSE: XPEV), a relative newcomer, has seen tremendous success in a short amount of time as it literally carved out its own demand. Li Auto, that was founded in 2015, quickly made waves on Wall Street as it hit NASDAQ in July, with its stock price more than doubling since. This revolutionary playfield is getting abundant with new entrants.
EVs were one of the main topics at Benzinga’s Small Cap Event
During a virtual conference that Benzinga held on December 8 th -9 th , Ideanomics (OTC: IDEX) highlighted its EV and fintech subsidiaries. CEO Alf Poor said the King of Malaysia invested in one of the company subsidiaries and that the company plans on entering the commercial fleet market and selling school buses in Europe. Electrameccanica Vehicles (OTC: SOLO) said it’s capturing the space between passenger vehicles and micromobility as it began production in August, while expanding its retail footprint with 10 existing locations.
Worksport (OTC: WKSP) presented its revolutionary solar-powered tonneau covers as part of its TerraVis technology. The beauty of this groundbreaking system is that it will allow Worksport to forge an entirely new market of its own with three separate sub-markets that can be targeted individually or simultaneously. With a removable battery, Worksport will be able to enhance any existing pickup truck as well as eliminate range and plug-in anxiety of upcoming electric pickups. But there is more to Worksport than it meets the eye as by being a standalone product, it will appeal to any customer who enjoys spending time outdoors and off the grid. By being removable, it will be able to power anything you would need outdoors and therefore, it has all it takes to become a must accessory, and not just for electric and traditional pickup owners. CEO Steven Rossi will also be presenting at the 13th annual LD Micro Main Event on Wednesday, December 14 so investors have a unique opportunity to learn more about this innovative company that just launched its Regulation A offering.
EV Charging
Blink (NASDAQ: BLNK) charging company has risen over 1,400% since the beginning of the year. Plug Power Inc (NASDAQ: PLUG) is another infrastructure player which entered a deal with Apex Clean Energy to develop a green hydrogen network using wind powers so it can tap into very low-cost renewable power. Moreover, this cooperation will allow the company to accelerate the shift to clean energy as its goal is for over 50% of its hydrogen supplies to be generated from renewable sources by 2024. It also revealed it partnered with Universal Hydrogen to build commercially viable hydrogen fuel-cell based propulsion system that is designed to power commercial aircrafts.
Workhorse Group (NASDAQ: WKHS) might be more of a business provider as opposed to consumer-focused brand, but that is not a bad thing considering the future of the EV industry. Although its deal with United States Postal Service has been delayed, it’s still pulling a lot of high retail deals. Since January, its stock price skyrocketed 541%.
The sky is the limit
Only those who cannot see the big picture can doubt the future of electric vehicles. The EV revolution has only just began and it is expected to grow exponentially as more and more nations ban the sale of ICE vehicles during the late 2020s and 2030s. As the EV boom accelerates, only the sky will be the limit for the above companies.
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