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Latest Developments in EV Space

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Sep 08, 2020 (IAM Newswire via COMTEX) -- Valued at $390 billion, Tesla Inc /zigman2/quotes/203558040/composite TSLA +3.18% is worth more than all of Germany's carmakers combined. It's been 12 years since Elon Musk released his first full-electric sports car, Tesla expanded its footprint into battery production, deployed dedicated charging infrastructure worldwide and developed solar products that enable consumers generate and store energy. But, besides traditional automakers such as General Motors /zigman2/quotes/205226835/composite GM -2.14% and Volkswagen /zigman2/quotes/204431732/composite VWAGY -1.53% who are undergoing deep transformation so they can participate in the EV race, many companies are making great progress at accessories that can greatly ease this transition.

Amazon /zigman2/quotes/210331248/composite AMZN +2.10% recently announced that it will not be sitting down while Rivian delivers its massive order. Amazon will additionally electrify fleet with 1,800 new all-electric delivery vehicles from Daimler AG's /zigman2/quotes/203566154/composite DDAIF -0.86% Mercedes-Benz.

The story went on as Envision Solar International, Inc., , the leading producer of unique and sustainable accessories that build the EV infrastructure, announced that a Federally Funded Research and Development Center has ordered four EV ARC

(TM)
solar powered EV charging products. They will be providing a charge to EVs, hybrids and NEVs (neighborhood electric vehicles) that are used by its employees and its overall fleet.

Two French multinational giants, oil major Total SE /zigman2/quotes/201824152/composite TOT -1.21% and automotive manufacturer Groupe PSA, have just announced the creation of Automotive Cells Company. It is a joint venture worth billion as the two giants will invest billions into battery manufacturing for EVs. With the support of French, German and European authorities, they will deploy their best expertise and technologies to create a competitive European battery industry. This game changing move is expected to result in one million batteries annually, or around 10% to 15% of the European market. It needs to be accompanied by EUR5 billion in investments. The two gigafactories are planed to be build Douvrin, France and in Kaiserslautern, Germany.

Worksport /zigman2/quotes/200413469/composite WKSP +34.94% announced this morning an overwhelming interest from its TerraVis [] tonneau cover solar panel launch and that it has resumed shipping from its overseas factory. Last week, Worksport announced it is in the final stage of closing a US$70 million-worth agreement to supply its ground -breaking Worksport TerraVis

(TM)
tonneau cover system with solar power integration to a renowned U.S.-based Electric Truck manufacturer. The partnership is expected to bring in US$70 million in revenues to Worksport in the near future and it is just the beginning. The true definition of market disruptors is those who not only innovate, but make advanced technologies accessible. That is the definition of Worksport that is already a renown brand for innovative truck covers.

Although Tesla's stock is up nearly 800% in the last year alone, there many new potential disruptors. Worksport's breakthrough technology will be able to enhance any truck: electric in terms of driving range but even traditional ones by giving drivers a tonneau cover that can both generate and store energy remotely. Moreover, if an all electric future has a shot of becoming our reality, these vehicles need to become more accessible price-wise, battery technology plays a big role in that. The same goes for the charging infrastructure. Therefore, companies that work on building these ecosystems are, in a way, even more important than the beyond-successful EV pioneer and current industry leader.

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

The post Latest Developments in EV Space appeared first on IAM Newswire .

COMTEX_370922544/2618/2020-09-08T09:40:17

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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 573.06
+17.68 +3.18%
Volume: 41.33M
Nov. 25, 2020 3:13p
P/E Ratio
1,141
Dividend Yield
N/A
Market Cap
$526.45 billion
Rev. per Employee
$511,871
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/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 45.47
-0.99 -2.14%
Volume: 12.79M
Nov. 25, 2020 3:13p
P/E Ratio
20.32
Dividend Yield
0.00%
Market Cap
$66.50 billion
Rev. per Employee
$836,811
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/zigman2/quotes/204431732/composite
US : U.S.: OTC
$ 19.61
-0.31 -1.53%
Volume: 76,125
Nov. 25, 2020 2:50p
P/E Ratio
21.07
Dividend Yield
1.86%
Market Cap
$96.91 billion
Rev. per Employee
$421,269
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,183.48
+65.42 +2.10%
Volume: 2.97M
Nov. 25, 2020 3:12p
P/E Ratio
93.21
Dividend Yield
N/A
Market Cap
$1564.49 billion
Rev. per Employee
$351,531
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/zigman2/quotes/203566154/composite
US : U.S.: OTC
$ 68.32
-0.59 -0.86%
Volume: 42,004
Nov. 25, 2020 2:56p
P/E Ratio
419.91
Dividend Yield
5.30%
Market Cap
$73.61 billion
Rev. per Employee
$661,053
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/zigman2/quotes/201824152/composite
US : U.S.: NYSE
$ 44.96
-0.55 -1.21%
Volume: 2.44M
Nov. 25, 2020 3:12p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$119.11 billion
Rev. per Employee
$1.64M
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/zigman2/quotes/200413469/composite
US : U.S.: OTC
$ 0.18
+0.05 +34.94%
Volume: 2.84M
Nov. 25, 2020 2:57p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.67 million
Rev. per Employee
$1.93M
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