Worksport And Stellantis Are Raising Their Games While Tesla Gets Closer To Changing The Industry Charging Standard

What started as a slow week with markets being closed on Monday for a federal holiday, is now an exciting one on the EV and automotive front. Tonneau cover manufacturer Worksport Ltd WKSP just announced it will be applying for a prestigious certification while Stellantis N.V. STLA unveiled its new tool with which it will challenge the EV king Tesla Inc TSLA as well as its contender to replace the low-cost EV void General Motors GM left recently. Also today, Reuters reported that Hyundai Motor HYMTF CEO stated that the South Korean automaker is considering joining Tesla in changing the American charging standard. 

Worksport Applies For ISO 9000 Certification

Worksport revealed today it will be applying for its wholly owned 220,000 square feet Western N.Y. manufacturing facility to get an internationally recognized standard for quality management systems. Worksport is a company committed to a zero-defects mentality but adhering to these requirements is certainly a bold move, an achievement in itself that the CEO Steven Rossi believes strongly Worksport can achieve. Rossi admits that gaining the ISO 9000 certification is everything but easy considering that inspectors will be examining every little detail across the company's key procedures protocol but since its inception, Worksport has been commited to the highest level of quality throughout its actions. At its U.S. facility in question, Worksport expects to soon being able to deliver its innovative light truck tonneau covers and later manufacture its groundbreaking and industry's first SOLIS solar tonneau covers. With its newly improved hot swap remote battery system COR, Worksport promises to disrupt the EV field with its innovations. Hyundai is one of the first automakers who will benefit from this revolutionary technology as its Santa Cruz electric pickup will be equipped with Worksport’s customized solar-powered tonneau cover  and portable battery system. 

Stellantis Will Be Filling The Void General Motors Left By Withdrawing Bolt

As General Motors withdrew its low-priced EV, Stellantis jumped in with its EV contender, a new C Citroën e-C3. Stellantis’ low-priced EV should be on the road early next year with a range of 186 miles. By the looks of it, Stellantis could soon have the lowest priced EVs on the market, although Volkswagen VWAGY will be rolling out its ID 1 and ID 2 both under $30,000 but the German automaker did not reveal any dates. Citroen CEO Thierry Koskas stated that the brand has a history of making affordable cars and therefore, its newest role is to bring that to the EV table as affordability is what EVs need to take over the automotive landscape. 

Stellantis Is Going For The Affordable EV Crown

Also today, Stellantis revealed in a separate announcement that it joined forces with the iPhone assembler Foxconn. The two already joined hands in the Mobile Drive venture under which they are developing in-car and connected technologies for the automotive industry. The purpose of their newest joint creation, SilliconAuto, is to to design and sell semiconductors used in the automotive industry as of 2026. Like Stellantis, SilliconAuto will be based in the Netherlands. 

Tesla Delivery And Production Figures Fell Short But Its Superchargers Are Doing The Talking

On June 19th, Tesla revealed it made 1.37 billion EVs which is significantly below its internal target that aimed for 50% growth with worldwide quarter deliveries also coming in short of forecasts. However, its superchargers that make 60% of fast chargers in the U.S. are doing the talking with shares rising more than 40% since the news of Ford Motor F entering its charging network came out, a move that was soon followed by General Motors. While challenging the industry charging standard by opening its network of Superchargers, Tesla is also trying to quality for the portion of the the $7.5 billion in subsidies that the Biden administration is giving in order to accelerate the deployment of chargers in the U.S.

DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.

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