On Monday, Ford Motor F unveiled its ambitious strategy to ramp up its EV progress and catch up to the EV leader itself, Tesla Inc TSLA. Today, Worksport Ltd. WKSPWKSPW, who will be equipping several upcoming electric pickups with its revolutionary solar-powered technology, revealed it is another step closer to beginning production as first materials have arrived at its NY manufacturing facility.
Ford Aims To Restore Its Credibility On Wall Street
Back in February, the blue oval already predicted a tough year ahead and now it estimated that compared to its competitors, its total costs are $7 billion higher. To complete its targeted goal of producing 2 million EVs by 2026, Ford also revealed its new supply deals for battery-grade lithum. Ford already claimed to achieve a global capacity to build 600,000 EVs by the end of 2023, but Wall Street is doubting about its ability to achieve this ambitious goal. Besides maintaining its 2023 guidance for adjusted EBIT in the range between $9 billion and $11 billion and about $6 billion in adjusted free cash flow, Ford also stated that the next-generation electric truck will have a 30% lower labor and overhead cost compared to its current trucks powered by internal combustion engines.
Tesla’s Long-Promised Cybertruck Finally In Production
Tesla plans to begin delivering its Cybertruck pickup to customers later this year while its CEO, Elon Musk, also teased two new models last week. Musk will also be joining The Wall Street Journal’s CEO Council Summit at 2 p.m. ET in a virtual appearance.
The Cybertruck promises to redefine the look of pickups while it’s marketed as „the Hummer of the 2020s“. It’s safe to say that until now, Tesla has shown it is more than able to push the boundaries on what its electric vehicles can do.
Worksport’s Solar-Powered Products Are Coming
With CEO Steven Rossi at the helm, the automotive accessory and renewable energy company is making big steps to solidify its position in these industries that will redefine the future of transportation. With the factory just having received the first materials, Worksport is a step closer to bring its groundbreaking products to market, Terravis solar-powered tonneau covers and COR portable power source and energy storage system. Electric pickups Atlis XT and Alpha are among those who will be super-powered by Worksport’s revolutionary technology.
Legacy automakers have long talked about their approach to profitably shifting away from international combustion engines to EVs, but now is the time to put their words into action while the EV king, Tesla, and other innovative players in the field like Worksport continue redefining the automotive landscape of tomorrow.
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