Volkswagen AG (OTC:VWAGY) reported a drop in first-quarter profit owed to weaker sales in China and supply shortages, reaffirming the need for the Europe’s largest carmaker to speed up its EV transition if it wants to catch up to its rivals. Meanwhile, a renown tonneau cover manufacturer Worksport Ltd (NASDAQ:WKSP) announced that it has completed the installation of its manufacturing line at its US facility, meaning it is now a step closer to disrupting the transportation industry with its upcoming patented products, the eagerly anticipated portable COR battery and SOLIS solar powered covers, that promise to be nothing short of revolutionary.

Recovery in sales volumes in Europe and North America fueled a rise in revenue by 22%, leading to total revenue of approximately $84 billion as the decline in China was offset by strong demand in Europe and North America.Throughout these first three months of the year, operating profit fell 31% YoY to approximately $6.3 billion.However, when valuation effects from commodity hedging are excluded, operating profit actually increased by 35% to approximately $7.8 billion.

Deliveries in China slipped 14.5% on an already weaker previous year, but management expects them to recover until the end of the year. CFO Arno Antlitz, added it was important to distinguish between China’s combustion engine market, where Volkswagen has been leading for a long time, and the country’s battery electric vehicle market, where it needs to catch up with rivals including Chinese EV giant Boyd Gaming Corporation (NYSE:BYD) who became China’s top selling carmaker. In an effort to turn around the slump in deliveries, the European giant will try to improve its presence in China with new models that will be better tailored to local tastes.

According to the Investors Observer, Worksport is certainly among the top playes in the Auto Parts industry. Although EVs are more about software than hardware, Worksport has a portfolio of products that promise to greatly contribute to the development of upcoming electric pickups.  Two weeks after announcing its advanced tonneau covers will soon be available to serve Chevrolet, Jeep, Dodge, RAM, Ford Motor (NYSE:F), Nissan Motor Co Ltd (OTC:NSANY), Honda Motor Co (NYSE:HMC), Hyundai Motor Company (OTC:HYMTF), and Toyota Motor Corporation (NYSE:TM), Worksport proudly revealed on May 4th that it is now another step closer to its long-term revenue growth goal as it completed the installation of its manufacturing line. With its impressive portfolio of patented and proprietary folding truck covers, Worksport is getting closer to fulfilling its promise of disrupting the transport industry as it can now begin training the staff at its New York facility. The training is expected to last several weeks with Worksport is also expected to provide an update on both its newly redesigned portable COR HD advanced battery system and the solar-powered SOLIS cover for light pickup trucks.