On Wednesday, Ford Motor (NYSE: F) outlined plans to further boost spending on its electrification efforts in an effort to outpace its rivals which includes giants like Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL), fueling its shares near a five-year high. Worksport Ltd (OTC: WKSP) provided an
update
this morning on its recent hiring as the company capitalizes on its ability to attract best-in-class professionals as it aims to build a world-class dream team that will amplify t its core ingenuity, streamline progress, and grace the market with more of its ground-breaking products and services.
Worksport
With numerous projects underway and a growing research and development unit delivering sizeable and globally recognized industry innovations, Worksport’s R&D department is growing as it welcomes two full-time industrial engineers, an industrial designer with specialties in 3D modeling and interactive preparation, as well as two advisory engineers to the team. Also, discussions are taking place with a prestigious Canadian technological institute that has ties to General Motors (NYSE: GM) and its newest EV regarding a possible partnership for current and future developments. Partnerships will be announced as they become definitive.
On its continually evolving roadmap, the renowned tonneau-cover designer and manufacturer is progressing at breakneck speed with the upcoming launch of its solar fusion TerraVis being the first among many projects that will lead the company to the next level. Its solar-powered technology will be configures for two upcoming pickup trucks, namely Hercules Alpha and Atlis XT. But besides its revolutionary offerings that change the rules of the EV game, the strength of this Canadian-based company is that its offerings go beyond the electric pickup market as the extension of TerraVis, more precisely, TerraVis COR will appeal to any consumer who simply needs mobile power, regardless if he or she owns a pickup truck or an electric vehicle of any kind.
Ford
When it comes to pickups, the F-150 is undoubtedly king and its electric version that is coming next year, the electric F-150 Lighting, was just revealed last week. Moreover, on Wednesday, Ford revealed it will be increasing its electrification efforts by more than a third as it aims 40% of its global volume to be all electric by 2030. The strategy has been named “Ford+” to make the legendary Blue Oval seem more like a technology company as it aims to outpace its rivals. Instead of $22 billion, the No. 2 U.S. automaker plans on spending more than $30 billion on EVs by 2030. These efforts also include battery development.
It seems that President Joe Biden’s $174 billion plan that aims to boost U.S. EV production, sales and infrastructure is also doing a great job in electrifying the truck market as well.
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