Innovation and a green world are on top of today’s discussions. In a perfect world humanity produces only green energy, forests are saved and the horizon is filled with fresh air.
Tech giants who use enormous amounts of energy in their operations are working toward a goal of meeting 100% of its energy from renewable sources. At the same time other companies are improving solar panels, building innovative products that produce solar or wind energy in the road to a world driven by renewable energy.
Renewable energy only
Google’s chief executive (NASDAQ: GOOGL) revealed last year that they sign up to $2 billion wind and solar investments which is one of the biggest renewable energy deal in corporate history to make huge steps in using 100% renewable energy. Google is also involved in other projects like the Project Sunroof which computes
Amazon Inc (NASDAQ:AMZN) also plans to invest in new wind and solar projects. It plans to have 80% of their energy needs coming from renewable sources by 2024 and even 100% by 2030.
Apple Inc. (NASDAQ:AAPL) doubled suppliers that committed to run on 100 percent clean energy. Exceeding its goal to bring 4 gigawatts of renewable energy into the supply chain by 2020.
Tesla Inc (NASDAQ:TSLA) is without a slightest doubt, one of decade’s biggest disruptors. Its CEO Elon Musk is now also nothing less of an icon but also a very rich man as the company’s market cap reached new highs this year. With its stock surging 12 percent after the electric pioneer reported higher than expected earnings for the fourth-quarter. The term ‘cash-crunch’ is not revolving around Tesla no more as the company reported its very first annual profit since becoming public 10 years ago.
Solar and Pickup trucks
Tesla’s Cybertruck has reached already millions of people while some players even preordered. Investors should not forget about companies that prosper from these developments in both the solar and the electric vehicle market. For example, Franchise Holdings International Inc., (OTC: FNHI) parent of Worksport Ltd which produces light truck tonneau covers generating electricity from solar energy announced yesterday that they will sell and distribute their products on Amazon. With a portfolio of intellectual property this company has been rapidly expanding for several years in three continents.
EV’s Super Bowl win
The last Super Bowl there were quite a bit of ads about electric cars showing the increasing interest in electric cars. Audi (OTC:AUDVF) showed up with GOT’s star Maisie Williams in its new electric car campaign. General Motors’ (NYSE:GM) plus one was LeBron James for its electric Hummer. And to top it off after Ford Motor Company’s (NYSE:F) electric Mustang Mach-E, Porsche debuted its very first all-electric vehicle. But interestingly, unlike others Tesla, known for not spending money on advertising so its products can generate the far more powerful word of mouth, had its own advertising around the Super Bowl for free. As it tuns out, the players are obsessed with Tesla’s speed and automation, and the brand has become the new status symbol in the NFL. A definite win for EVs during this year’s Super Bowl and what a delightful surprise and free gift for Tesla!
Tesla’s stock soared
Already over the last eight months, Tesla’s stock has rocketed, bringing Tesla just behind Toyota Motors (NYSE:TM) when it comes to market value. At this years high its stock went to a record-high of $968 per share, which brought it above the market cap of Volkswagen (OTC:VWAGY) and BMW (OTC:BMWYY) combined. By the looks of it, Tesla has headed into a potentially crucial year on a very positive note. But most importantly, these results suggest that Tesla has overcome the problems that plagued it in the first half of last year, when it lost more than $1 billion and scrambled to raise capital. What is certain is that although over the years, Tesla has given bulls reason to believe and bears reason to doubt the company, Musk has succeeded in making electric cars “cool”.
More to come
With companies like Enphase Energy Inc (NASDAQ: ENPH), Solaredge Technologies Inc (NASDAQ: SEDG) and Vivint Solar Inc (NYSE: VSLR) next to the Tech giants leading the way of innovation we can be pretty confident that the solar and electric systems of the have much more to show in the next decade.
This article is contributed by IAMNewswire.com. It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.
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Worksport Broadens Development with Advanced TerraVis COR Portable Solar & Battery System for Global Market Launch.
Global Energy Storage Projected to Increase to $546 Billion by 2035
TORONTO –February 9, 2021 — Worksport Ltd (OTC: WKSP) (or the “Company”) has expanded the development of its advanced TerraVis COR mobile energy storage system (ESS) that can be recharged via solar or conventional A/C power. It is an outgrowth of their ground-breaking TerraVis tonneau cover system, a recently introduced fusion of cutting-edge solar power, storage, and delivery.
Worksport CEO Steven Rossi estimates that the Company could have working prototypes of this system within 60-90 days, and possibly debut it to market within six months following the outset of final development. The TerraVis COR system is the first of its kind providing continually charged COR battery packs, where depleted batteries can be removed, recharged, and replaced, on-demand. The TerraVis COR system will be portable for jobsite and off-road uses, and will be marketed globally as standalone products, rechargeable by most common power sources as well as any solar panel.
“We are entering a lateral and much more extensive mobile energy market where not just light-duty truck owners will benefit from the many advanced features of TerraVis,” Rossi said. “We are broadening our horizons with this new product, which can be used in emergency & disaster efforts; by contractors, vacationers, second-home owners, and campers; as well as in rural areas for agricultural purposes – among many other applications where portable energy is a necessity. Depleted COR batteries can be recharged with solar power or by plugging them right into a wall outlet. We are extremely excited about this development and believe it will be yet another gamechanger for Worksport, in addition to its TerraVis system. The TerraVis COR system is expected to launch globally later this year. There are also plans to further expand TerraVis COR to grid micro-charging stations for smaller form-factor EVs. As well, plans are in motion to pursue applications within Freight & Transport, Marine, and Rail industries.”
To aid in rapid product development, Rossi said Worksport has hired four additional staff members, including two industrial engineers. Worksport has also entered into a large contract with a special engineering firm that has extensive knowledge and resources of battery systems, charge controllers, and sine-wave inverters. The firm possesses a vast network of resources with numerous military and enterprise-level contracts. An announcement pertaining to this relationship is expected soon.
In addition, Rossi expects the TerraVis COR battery system to be assembled in North America – most likely in Ontario – as part of a Worksport trend to bring back production from overseas.
“The portable battery storage market is huge, and the trend is growing,” Rossi said. “The TerraVis COR will bring immense value to not just truck owners, but also the global consumer market, forecasted to grow to over $546 Billion by 2035. There will be cost advantages and attractive pricing for these very innovative, patented products. We look forward to telling investors and shareholders all about them along with the launch of the TerraVis pre-order site as soon as possible.”
To participate in Worksport’s current Regulation-A+ offering, interested investors are encouraged to navigate over to the company’s investment platform (www.invest.worksport.com). Every investment dollar will be used to further the Company’s growth. Minimum investment is $2000, and all securities purchased will be registered and tradeable. Investors have an opportunity to purchase one (1) common share and one 12-month warrant, directly from the company.”
To stay up-to-date on all of the latest news, investors, supporters, and shareholders are also encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram, as well as sign up for the company’s newsletters at www.worksport.com and www.goterravis.com. Worksport will continue to update shareholders, supporters, and investors to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace.
About Worksport Ltd.
Worksport Ltd., an innovative manufacturer of high quality, functional, and attractively priced tonneau covers for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information, please visit www.worksport.com. Currently trades on the OTCQB Market, under the trading symbol “WKSP.”
Connect with Worksport:
For further information, please contact:
Mr. Steven Rossi
CEO & Director
This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s ’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Trucks to the Rescue of Ford and Fiat Chrysler
Ford (NYSE: F) and Fiat Chrysler (NYSE: FCAU) reported strong profits as demand rebounded. Not only did Ford crush Wall Street expectations, but Fiat Chrysler also had record earnings.
The top and bottom beats were based on a stronger-than-expected demand during the pandemic. A long restricting has started paying off with a big jump in profit in the third quarter. Adjusted EPS were 65 cents, exceeding the expected 19 cents with automotive revenue of $34.71 billion also topping the expected $33.51 billion.
During the quarter that ended in September, the Detroit automaker earned $2.4 billion. This is an increase from $425 million for the same period a year earlier. Although it lost money overseas, Ford’s North American operations and its division that offers credit did well.
North America that made $3.18 billion on revenue of $25.3 billion led the way towards profits. The strong figures were a direct result of a stronger-than-expected demand and a rich sales mix of popular Ford trucks and SUVs, along with commercial vehicles. Ford’s new-vehicle sales were down just 5% in the third quarter as it increased the share of more-profitable trucks, vans and SUVs. This trend resulted in an increased profitability per vehicle sold.
However, Ford expects to break even or show a loss of up to $500 million in the fourth quarter before interest expenses and taxes are taken into account due to costs related to new or redesigned vehicle launches. Ford expects its figures to be hurt by higher costs and lower production due to introducing a fully redesigned F-150 pickup truck, a new Bronco and the Mustang Mach-E electric sport utility vehicle. The redesigned F-150, Mach-E and Bronco Sport are all due to reach dealer lots later this year.
Ford revised its previous guidance that had predicted an annual loss, now expecting positive full-year adjusted earnings are expected. Overall, the Blue Oval plans to invest more than $11 billion on developing EVs by 2022.
It remains unknown when Ford expects to reinstate its prized dividend which it suspended in March. Overall, despite a 15% increase in October, shares remain down by 17% this year.
On Wednesday, Fiat Chrysler said it earned an overall net profit of $1.414 billion , marking an increase of 773% compared to last year’s loss. Revenues in the third quarter, however, did fall 6% to $30.298 billion, although sales of profitable trucks and sport utility vehicles recovered after a sharp drop in the spring. Ram and Jeep retail sales in North America fueled Fiat Chrysler to a record $2.671 billion in pre-tax earnings and 8.8% margin in the quarter that ended in September. Ram pickup retail sales were up 15% for the quarter, and the profit-heavy truck segment in total surpassed sales of the Chevrolet Silverado for the first time this year. In the third quarter, FCA’s North America’s pre-tax earnings rose 26% year-over-year to a record $2.9 billion and 13.8% margin.
But FCA also disclosed this week it could face costs of up to $840 million to resolve a Justice Department investigation into excess diesel emissions and as a result of higher fuel economy penalties.
The Italian-American company was just joined by Honda (NYSE: HMC) in pooling its fleet with Tesla Inc.’s (NASDAQ: TSLA) to comply with emissions standards for passenger cars in Europe this year.
The results come as the European Union’s executive branch is expected to approve the Italian American automaker’s 50-50 Stellantis merger with Peugeot (OTC: PUGOY) and Citroën maker, PSA Groupe, with fourteen of 22 jurisdictions already having given their blessing. The two ancient rivals expect the merger that is expected to close during the first quarter of 2021 to bring savings of $6 billion on a yearly basis, while providing a scale for electrification.
FCA showed a strong financial position, ending the third quarter with $30 billion in cash, more than $45 billion in liquidity, and having repaid the $15 billion in credit it drew down during the first quarter.
Considering that FCA counts on only one popular pickup as opposed to its Detroit 3 counterparts, it’s quite the impressive that just at the start of last year, pickups made up less than a quarter of its vehicle sales, whereas now they make up more than a third. The ongoing success of Ram is expected to continue to add to the company’s bottom line as CEO Mike Manley confirmed plans for a battery-electric Ram only a week after General Motors Co. (NYSE: GM) debuted its electric GMC Hummer truck. The automaker plans to capitalize further on its trucks as it is also scheduled to unveil the next-generation Jeep Grand Cherokee SUV and a new three-row Jeep SUV.
It seems that the third quarter allowed automakers to shake off the pandemic-induced losses from plant and dealership closures as U.S. automakers are reporting a strong financial performance. Record-high transaction prices were fueled by a perfect combination of an unexpectedly strong recovery of demand and low inventories due to spring’s shutdowns. Still, the companies are staying conservative in their outlook as COVID-19 cases are increasing in the United States and Europe, with Germany and France having already reinstated a second lockdown. General Motors has some large shoes to fill when it reveals its financial results on November 5th.
This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: email@example.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: firstname.lastname@example.org
This Week in a Nutshell – Adobe and FedEx Take Center Stage
After the storm and the tech meltdown, along with increasing number of COVID-19 infections, this was a quiet week with a few nice surprises. The stars were Adobe Inc (NASDAQ: ADBE) and FedEx (NYSE: FDX).
Analysts were beyond impressed when FedEx again managed to crush expectations as the shipping giant is getting ready for a holiday ‘shipathon’ that is just around the corner. FedEx delivered very strong results during the quarter that ended on August 31 with revenue increasing from $17 billion in the same quarter last year to $19.3 billion. The increased demand found its way to the bottom line with net income rising 60% as it amounted to $1.28 billion.
Adobe continued its winning streak by setting new revenue records. It delivered the best fiscal third-quarter results in the company’s history, exceeded expectations and maintained its five-year streak of year-over-year quarterly increases in revenue. Its creative portfolio of offering is set to thrive beyond this unprecedented year.
The US real estate company Lennar Corp. (NYSE: LEN) topped analyst estimates both for revenue and earnings. It attributed higher demand to record-low mortgage rates as it sold 13,842 houses in its latest quarter. The market has recovered since the US government eased COVID-restrictions as U.S. homebuilding posted a record growth since 2016 in July.
Francesca’s Holding Corporation
Meanwhile, Francesca’s Holdings Corp.’s (NASDAQ: FRAN) had a rough day when it posted its fiscal second-quarter results. Stock plunged 8.75% on September 16th, reducing its market cap to $10.92 million as the pandemic has been rough on retail boutiques the group operates, focusing on the fashion apparel, jewellery and accessories for women.
Apogee Enterprises (NASDAQ:APOG), a leading provider of architectural glass, framing systems, and installation services, has been disrupted by the pandemic but it’s slowly rebounding. Its stock fell 0.4% in pre-market trading after the company reported Q2 results but earnings and revenue did manage to beat estimates. However, due to not knowing how severe nor how long will the downturn be, the company did not provide any outlook.
Meanwhile, Cantel Medical (NYSE:CMD) also topped forecasts. The Little Falls, N.J.-based infection prevention products and services company posted losses of $2.3 million from reported revenue of $233.4 million with a 2.5% year over year drop. The decline in organic revenue was greatly offset by the impact of acquisitions. Although medical revenue decreased 25%, dental revenue increased 59%. The company expects a full recovery, although the timing also remains uncertain.
Auris Medical Holding
Auris Medical Holding (NASDAQ:EARS) reminded us that there is more to the world than just battling COVID as this clinical-stage company is dedicated to developing therapeutics that address important unmet medical needs in neurology and central nervous system disorders. The company reached major milestones in its two clinical trials. But, it is also developing a drug-free nasal spray for protection against airborne pathogens and allergens that can be of great use against the world’s current #1 enemy.
Acutus Medical (NASDAQ:AFIB) reported revenue of $1.1 million in the second quarter of 2020 that ended on June 30th. This figure marks a 54% increase compared to the same quarter last year. Back in August, the arrhythmia management company completed an initial public offering and gained $163.3 million in net proceeds. Despite headwinds brought on by the pandemic, the company managed to execute its commercial launch. Although gross margin was negative at 135%, it greatly improved from last year’s quarter when it stood at 232%. Therefore, economies of scale and greater efficiency in labor was achieved.
IsoRay, Inc. (AMEX:ISR) is another innovative medical technology company that announced its revenues for the fourth quarter rose 18% to $2.28 million. The company’s improved results confirm the company’s strong positioning in the prostate brachytherapy market. Its future efforts will aim to expand the therapeutic benefits of Cesium-131 as a treatment option for cancers throughout the body.
Provided that the second lockdown can be avoided, it is possible that the worst is behind us. However, no one can tell with certainty as we are still not near to winning the battle against COVID-19. This week’s results do show signs of an economic rebound but we are not out of the woods yet.
This article is not a press release and is contributed by a verified independent journalist for IAM Newswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: email@example.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: firstname.lastname@example.org
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