North America Is Advancing With Its EV Power-Shift Efforts

On January 2nd, the first EV maker to bring the electric pickup to the road, Rivian Automotive Inc RIVN reported its fourth quarter deliveries. But, 2023 ended with the EV king, Tesla Inc TSLA bringing the most American-made electric pickup to the market, with 90% of Cybertruck parts produced in North America, with the figure including 65% made in the US and Canada. Another EV player, from the parts division, also present in Canada and the U.S., Worksport Ltd WKSP just announced it formed a strategic partnership with NeuronicWorks to manufacture and assemble its COR portable battery system for Alpha release and full production.

Worksport Continues Its Mission Of “Made-In-North-America” Portfolio

The Toronto-based NeuronicWorks Inc. is a high-tech custom electronic product development and manufacturing company that will perfect the construction of Worksport’s COR along with supplying Worksport’s circuit boards for the COR hub. The Alpha release of the portable COR battery system, which will allow real-world testing and first-hand user experiences, is intended to be a pivotal step towards the manufacturing of the COR system in Canada, using both international and domestic parts. Rafael Oliveira, Worksport Chief Technology Officer, described this partnership as one an important aspect of the company’s vision to build “made in North America’’ products with Worksport benefiting from having a strong partner in the development of mobile microgrids and portable power sources as Worksport also continues to work on bringing the revolutionary solar-powered SOLIS solar light truck cover. Together with COR, these two products present a power duo that holds a big promise for the future of cleantech transportation. Last year, Worksport strategically moved its HQ from Ontario to its U.S. facility in West Seneca, New York and proudly announced that its hard-tonneau covers qualify for the esteemed “Made in the USA” label that is perceived by customers to entail a superior quality, for which they are willing to pay a premium.

Rivian’s Fourth Quarter Deliveries Fell Quarter-To-Quarter, But It Surpassed Its Full Year Target

During the October to December quarter, Rivian delivered 13,972 EVs. Although in line with Wall Street expectations, it is a drop of 10.2% from the third quarter. However, Rivian boosted its production as it made 17,541 EVs during the fourth quarter, increasing from third quarter’s 16,304. For the full year, Rivian made 57,232 vehicles, topping its guidance of 54,000 vehicles.

On the same day, Tesla also reported its fourth quarter deliveries. Tesla easily topped Wall Street’s expectations as it made 484,507 deliveries during the quarter, while producing 494,989 EVs.

As for the full year, Tesla met its 2023 goal of 1.8 million deliveries by delivering 1,808,581 EVs during the year, while making 1,845,985 EVs. When it comes to battery-only EVs, Tesla defended its leadership as it left behind BYD with 1.6 million of these cars. BYD overall sold 3.02 million new energy vehicles last year, but 1.4 million of those were hybrids.

Although China has become the dominant maker of low-cost EVs, with its BYD also coming near to unseating Tesla as the EV leader, the U.S. is clearly not standing still. Tesla remains the EV leader when it comes to battery-only EVs, with deliveries growing 38% YoY and production expanding by 35% on a YoY basis. While Rivian is also scheduled to announce its fourth-quarter results after markets close on February 21st, Tesla will be discussing its fourth quarter results on January 24th, both of which will provide further insights into North America’s standing in its efforts to challenge China’s EV dominance.

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