While Tesla Faces Setbacks, Worksport Launches U.S. Production Ahead Of Schedule

Today’s data from the China Passenger Car Association (CPCA) showed that sales of Tesla Inc TSLA-China-made vehicles slumped 31% in July compared to June. This is the first month-on-month decline in sales of Tesla's China-made cars since December, back when the world's EV king was struggling with rising inventories. Tesla is also facing a legal class action as owners in California sued the automaker on Wednesday, accusing it for falsely advertising the estimated driving ranges of its EVs. Reuters reported that the lawsuit alleges that Tesla breached vehicle warranties while also engaging in fraud and unfair competition. Meanwhile, its China competitors, BYD Company Limited BYDDY, Nio Inc NIO, XPeng Inc XPEV and Li Auto Inc LI reported rebounding July deliveries.

Today, Worksport Ltd WKSP CEO Steven Rossi expressed his thanks as he reflected upon the company’s journey to make its patented 'made-in-the-USA' tonneau covers. By kicking off production at its NY West Seneca one week ahead of schedule, Worksport continues to work towards becoming the U.S. manufacturer of choice for innovative alternate energy systems, hard- and soft-folding tonneau covers for light trucks, and its upcoming SOLIS solar cover and COR portable energy system that hold great promise for a greener future of transportation.

Worksport Is Getting Closer To Disrupting The Transportation Industry

Worksport's NY facility, that is now also the Company’s headquarters, opens a new chapter of heightened productivity for this innovative company determined to make a tonneau cover like no other with its patented technology. Now that hard-folding tonneau cover production has started, Worksport continues to work towards making its solar-powered light truck bed cover SOLIS, and its companion, the newly redesigned COR portable energy system that is still in the R&D making. When testing is completed for the COR and this remote power battery system becomes market ready, Worksport will begin assembling its made-in-USA SOLIS covers. Worksport made a formal agreement with Hyundai Motor Company HYMTF last year to produce customized prototypes of the SOLIS and modified version of the COR to fit the automaker's Santa Cruz pickup.

Tesla Reported Its July Sales

Tesla sold 64,285 made in China EVs in July, which translates to a 128% YoY rise as during last year’s comparable quarter, it was upgrading its Shanghai factory with those works curbing production.

Meanwhile, Tesla competitors in China are delivering at full speed.

Tesla rival and China EV leader BYD posted its July sales rose 61% YoY as it sold 261,105 vehicles, including EV series Dynasty and Ocean along with petrol-electric hybrids and 18,169 exported vehicles. In fact, BYD outsold Tesla in EV sales in China by 29% during the first half of the year.

BYD is undoubtedly owning the EV throne in China, but other smaller EV startups, namely Nio and XPeng also enjoyed a boost in deliveries. In July, Nio’s deliveries rose 103.6% YoY as it delivered 20,462 vehicles while XPeng experienced its highest deliveries this year as it delivered 1,008 vehicles, 28% more compared to the previous month, but was still eclipsed by its peers. Li Auto delivered the most vehicles out of the three EV startups, more precisely 34,134 of them as its July deliveries rose 227.5% YoY.

Therefore, the above figures and updates show that the summer heat isn't at all slowing down the dynamics in the automotive and EV universe.

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