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New Sparks for the EV Industry

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EV companies in stock market

The coronavirus lockdown has given us a taste of an electric future in which lower emission targets were reached. People are realising the benefits of leaving internal combustion engines to zero-carbon footprint EVs as big cities saw a sharp reduction in carbon dioxide, carbon monoxide and methane emissions.

The flamboyant EV leader Tesla (NASDAQ: TSLA) is upping its game with its Shanghai as well as upcoming Berlin and Austin Gigafactories. Despite COVID-19-related setbacks, traditional automakers are pulling the big guns to be able to compete in the EV race. Detroit’s big three and European giants are not shying away from their commitment to EVs. Moreover, in June, even Lyft (NASDAQ: LYFT) announced that every vehicle on its platform will be electric by 2030. Despite a setback in the construction of its factory due to the shutdown, Rivian also announced it will debut its electric pickup truck and electric SUV next summer. This means it could still be the first to deliver an all-electric pickup truck while signing a deal to supply Amazon (NASDAQ: AMZN) with 100,000 electric vans.

But there are players you maybe didn’t even hear of who are just as able to disrupt the EV market.

Xpeng going public

Despite the troubling US-China relations, the Alibaba-backed (NYSE: BABA) backed Xpeng Motors (NYSE: XPEV) has raised more money than expected for its Wall Street debut. It exceeded expectations by rising $1.5 billion by selling more than 99.7 million shares for $15 each. Beginning on Thursday, the offering is expected to close on August 31, 2020.

Citroen’s electric launch

It’s no secret that EVs are central to France’s economic recovery plan. Peugeot S.A-owned (OTC: PUGOY) Citroën has just announced the launch of a new 100% electric vehicle. The ë-C4 generates zero CO2 emissions while providing a peaceful driving experience. With noise pollution being a growing concern, the silent nature of the vehicle could turn out to be really appealing to buyers. Despite Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY) having Hans Zimmer turn this noisy vibration in pure musical magic, Citroën has a sturdy reputation for working hard at keeping its environmental impact as low as possible. Its electrification offensive has solid grounds for success.

According to Car Magazine UK, aside from the Citroën ë-C4, other popular EVs include Tesla’s Model 3, Renault (OTC: RNLSY) Zoe, the Nissan (OTC: NSANY) Leaf, Porsche Automobil Holding’s (OTC: POAHY) Taycan and Hyundai Motor Company’s (OTC: HYMTF) Ioniq Electric.

Innovation

Last week, Worksport (OTC: WKSP) unveiled details regarding its ground-breaking TerraVis solar-powered tonneau covers. While the Canadian-based company announced it is finalizing its late-stage agreement to configure and craft this system for a U.S.-based Electric Truck manufacturer its corporate Worksport Twitter account shows their is more interest from several Electric Truck manufactures. Meanwhile, Worksport will continue to focus on growing as an innovative tonneau cover manufacturer.

Outlook

If 2020 has taught us anything, it’s that anything is possible. EVs play a crucial role when it comes to a sustainable future. While conventional car sales have seen a dramatic crash during the global crisis, EVs were only slowed down a bit. LMC Automotive reported that sales of battery EVs were up nearly 30 per cent in March 2020 when compared to the same month last year. This means that the world is embracing change. As we all adapt to our new reality, the auto industry is driving forward towards the all-electric future.

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: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

BenzingaEditorial

EVs Are Growing in All Directions

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Traditional automakers are transforming their business models to adapt to an all-electric future. General Motors (NYSE: GM) increased its investment to have a zero tailpipe emission line-up by 2035 with the plan to invest $7 billion in electric and autonomous vehicles this year and $27 billion by 2025. Ford Motor (NYSE: F) followed by more than doubling its EV investment by 2025 with $22 billion designated for electric vehicles and $7 billion for autonomous vehicles. The biggest obstacle to electric cars was that they cost much more to build than conventional models but big manufacturers are now putting the money to where their mouths areas they hope to benefit from economies of scale and profit from them. But, the scary costs aren’t stopping anyone, even smaller players who are going full speed ahead as they try to adapt to an electric future.

Affordability –  Chinese budget electric car takes on Tesla

A budget EV by China’s top automaker, state-owned SAIC Motor, selling in China for $4,500 is  a top hit now outselling Tesla’s (NASDAQ: TSLA) tech savvy cars which are not even close when it comes to affordability. The Hong Guang Mini EV is being built as part of a joint venture with General Motors (NYSE: GM). Last month, sales were around double those of Tesla, which was questioned this month over safety issues. While the model clearly lags well behind Tesla when it comes to its battery, range and performance, its convenience and low price have made it one of China’s bestselling “new-energy” vehicles. The Chinese government offers license plates for free to support EV adoption. In many cities, it can take months and even years, to get a license plate for a petrol engine whereas for EVs, it is guaranteed.

Premium – European carmakers are transforming their models

Jaguar Land Rover’s portfolio will be all-electric by 2025. The British carmaker will launch electric models of its entire Jaguar and Land Rover line-up by 2030,  JLR is a smaller company  so instead of focusing on achieving scale, it will re-emphasise Jaguar’s credentials as a luxury brand when it goes all-electric to take advantage of its premium positioning. Although that makes sense from a marketing point of view, it doesn’t make EV-related production costs any less challenging. But, British automakers don’t have a choice because the UK plans to ban the sale of new petrol and diesel cars from 2030. Germann luxury car brand Bentley Motors, owned by Volkswagen (OTC: WWAGY) revealed back in November its range will be fully electric by 2030 so all of Europe is serious about emission-free cars.

Pickups to see the light of day

2021 will also be the year when the world’s first electric pickup sees the light of day. he The U.S. pickup truck market is now dominated by the Ford F-150, Ram 1500, and Chevy Silverado, with smaller contributions from GMC, Toyota Motor (NYSE: TM), Nissan (NYSE: NSANY), and Honda (NYSE: HMC). Even Jeep joined the fray last year, as the Jeep Gladiator arrived in the marketplace. But, things are about to change as besides an electric Ford F-150, the market is about to get richer with highly anticipated models from new entrants such as Rivian, Bollinger, Lordstown Motors (NASDAQ: RIDE), Atlis Motor Vehicles and Hercules Electric Mobility.

Worksport provides update on growing profitable private label sales

Worksport LTD (OTC:WKSP) announced today it has shipped over 1,900 covers to its newest U.S based Private Label customer and that the company is in discussions with two New Private Label customers. Private label customers represent national middle market brands. The #1 accessory of pickups are tonneau covers and Worksport is a well-established manufacturer of both innovative and affordable tonneau covers. But this company is also a game changer due to its Terra Vis solar system that can also be used independently from pickup trucks, allowing the company to expand its customer market. Worksport  received a trademark protection in China along with partnering with Atlis and Hercules to configure its ground-breaking technology for its upcoming pickups. Worksport gathered its target funding of over $4 million more than half a year before the end of its Regulation A offering and the orders and deals just confirm the demand for its unique offerings, including its TerraVis Solar Tonneau Cover and COR battery system.

Outlook

Although Financial Times research shows that EVs will remain significantly more expensive for carmakers to produce than ICE models for at least a decade and affordability is essential for a wider adoption, the market is expanding at a pace that is nothing short of extraordinary. As carmakers fine-tune their production know-how to deliver battery-powered cars which also benefit from a simpler structure and fewer components, costs will go down eventually, and even faster with potential breakthroughs in battery technology.

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: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

China Is the EV Place to Be

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Worksport Terravis Solar System On Electric Pickup Truck

In absolute terms, China remained the world’s largest EV market last year, with 2.3 million electric vehicles in active use and 1.11 million electric cars sold, according to the China Passenger Car Association. But according to predictions, the best is yet to come as EV sales are expected to grow strongly with the government targeting to sell around 5 million EVs annually by 2025, or a fifth of total vehicle sales. So, no wonder that automakers and EV players around the globe are headed to grab their piece of the pie.

Worksport

An innovative manufacturer of tonneau bed covers for pickup trucks such as F-150, Worksport Ltd (OTC: WKSP) has just announced that the company received official notice from the trademark office in China that it has been granted exclusive use of its Worksport trademark in the country over the next decade. Worksport’s star product is its TerraVis fusion technology which will be configured for two upcoming electric pickup trucks as the company partnered with Atlis Motor Vehicles and Hercules Electric Mobility.

Worksport is also working on its offering of mobile and solar-charging stations as it plans to support all EV sizes and roll out implementations for recreation, marine, and transportation vehicles. It has already expanded in the consumer market with the advanced TerraVis COR mobile energy storage system (ESS), a standalone product that can be recharged with solar power or by being plugged into a conventional wall outlet, that can assist in emergency and disaster efforts, contractors, vacationers and campers. The latest news is a major addition to Worksport’s growing international Intellectual Property Portfolio that contains over 30 patents and trademarks.

Automakers

As three Chinese EV startups, NIO Inc. (NYSE: NIO), Li Auto Inc. (NASDAQ: LI) and XPeng Inc. (NYSE: XPEV), achieved great momentum last year, U.S. automakers intensified their EV efforts. Ford Motor Co. (NYSE: F) announced in January it will build its iconic US-built Mustang vehicles in China for the very first time. Tesla Inc.(NASDAQ: TSLA) started delivering its locally built Model Y which is the second vehicle after the Model 3 produced at its Shanghai factory. Also in January, Volkswagen AG (OTC: VWAGY) announced it will begin delivering the first EVs produced at two newly built Chinese EV factories.

Outlook

2020 was a breakthrough year for EVs that represented almost 5% of all new car sales, but by the looks of it, 2021 will be even bigger. What better place to take advantage of the trend than at its biggest market? Even Baidu Inc. (NASDAQ: BIDU) that has largely been viewed as an online marketing company selling ads within its web search results is venturing into the fast-growing EV market to diversify revenue sources. The Beijing-based company revealed this week it decided a CEO and brand for the EV venture, adding it would try to launch a new EV model in about three years. As the early $15-trillion GDP Chinese economy recovers from the harm induced by the pandemic, the EV race in China is heating up with many new players determined to give Tesla a run for its money.

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: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaPRs

Worksport Receives First Trademark Registration in China for Worksport Brand

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EV Updates

TORONTO – February 18, 2021 — Worksport Ltd (OTC: WKSP) (or the “Company”) has received official notice from the trademark office in China that it has been granted exclusive use of its Worksport trademark in the People’s Republic of China for the next ten (10) years.  A first for Worksport, the China-based trademark allows Worksport to expand its international presence and grow globally without fear of losing brand equity from similar products or trademarks either made in or exported from the vast 1.4 billion-person-strong Chinese market.  Worksport is the leading manufacturer of solar and conventional tonneau covers for the international light-truck markets.

“Winning trademark protection in China is the first part of Worksports ambitious strategy to not only set the stage for a global footprint in solar-powered, light-truck tonneau cover markets, but also to expand our TerraVis™ solar technology systems in a market that is ripe for a fresh new player providing differentiating solutions for renewable, sustainable power production, storage, and deployment.  The TerraVis™ technology will go beyond just automotive light-truck markets. Worksport is already working on an outgrowth TerraVis™ offering of modular, mobile, solar-charging stations for smaller form-factor EVs – and plans to support all EV sizes – as well as roll out implementations for recreation, marine, and transportation vehicle markets,” Worksport CEO Steven Rossi said.

Rossi said that the Company was “very excited” about this achievement.  It is indeed a major addition to its growing international Intellectual Property Portfolio of 30+ patents and trademarks, which is rapidly becoming an increasingly valuable Company asset.  This China-based trademark is the Company’s second trademark protection announced this year, with the first being for its TerraVis COR™ line of mobile battery packs in the U.S.  The company looks forward to continuously developing and building the Worksport brand into a reputable force, one that will be a major player in the nearly $15-trillion GDP Chinese economy.  “We expect to expand expeditiously, penetrating the broadening global markets in parallel with our patent- and trademark-protected products in North America,” Rossi said.  “We aim to be a global household brand name, and this achievement is another milestone contributing to our history of successes.”

To stay up-to-date on all the latest Worksport news investors, supporters, and shareholders are 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. (currently OTCQB: WKSP) develops and manufactures high quality, modular, attractively priced tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. and consumer adventures & emergency/ disaster-recovery purposes, where portable energy is a necessity.  The modular, redefining Worksport TerraVis™ tonneau cover system is being mindfully designed for the jobsite contractor and off-road, light-duty trucker – for work and play – to sustainably supply extra energy for those additional miles.  Its allied TerraVis COR™ mobile energy storage system (ESS), expected to launch by end of 2021, will be another redefining product targeted for vacationers, second-home owners, and campers.  Plans are also being constructed to address the dire adoption & scaling needs of the EV markets with grid micro-charging stations to provide convenience and efficiency in recharging to smaller form-factor EVs.  For more information, please visit www.worksport.com and www.goterravis.com.

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:

Mr. Steven Rossi
CEO & Director

Worksport, Ltd

T: 1-888-554-8789
E: srossi@worksport.com

 

Forward-Looking Statements

This document may contain forward-looking statements, relating to Worksport™ operations or to the environment in which it operates, which are based on Worksport™ operations, estimates, forecasts and projections. These statements are not guarantees of future Company performance and may involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport’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™ 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.

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