Toyota Is Finally Waking Up To The EV Reality

As the EV revolution took the automotive industry, Toyota Motor TOYOF stubbornly sticked to its beliefs that hydrogen will power the future in which hybrids will be on the roads. For a decade, Toyota sat idly while Tesla Inc TSLA sparked the EV revolution that is now in full swing. But, we the new CEO at the helm, Toyota is finally waking up to the EV reality. 

A Battery Breakthrough

Without offering any technical details Toyota announced this week it achieved a breakthrough in battery technology. Toyota announced it had achieved a “breakthrough” in battery technology, claiming that this solid state batteries will both improve the driving range to 900 miles as well as cut the costs of EVs. Although Toyota is certainly making a strategic pivot , the provided EV roadmap did not include the costs and investment details. 

Ford Has Filed A Roof-Mounted Backup EV Battery System

Lately, Ford Motors F has been showing it is getting creative. It joined Tesla’s team to benefit from its supercharging network. Last week, it filed for a patent that aims to give drivers more juice while off the grid. The patent in question is a removable backup battery that can be placed on the roof of the EV and become a priceless remote power source during off-roading and camping. Ford says that the backup battery will also be sold as an independent item, as well as leased and rented. But with the current EV batteries weighing about 1,000 lbs, the concept can face issues on its realization pathway. 

Worksport’s Revolutionary Technology Is Coming To Power Pickups, Campsites And Remote Locations

Worksport Ltd WKSP has two ground-breaking products in store. The first is the SOLIS solar-powered tonneau cover, also the first of its kind, that will significantly enhance the power of any pickup, with the first being Hyundai’s Santa Cruz. The second is the COR on-the-go power system. Under the leadership of Dr. Rafael Olivera, this ground-breaking battery power generation has been recently updated in terms of design and efficiency as Worksport proudly announced last week that its interface has been enhanced and power capacity expanded from 2kW to 3kW. What is truly remarkable is that Worksport achieved to increase the output by 50% without altering the size of the battery and while maintain the estimated retail price as well as protecting its margins. In its submitted patent, Ford did not brag about boosting the power density in its backup battery.

All in all, SOLIS and COR are a portable power team that promise the change the face of not only the pickup and the EV world, but also the world of transportation. On June 6th, Worksport already launched its soft folding tonneau cover, SC4 PRO and is making significant progress towards kicking off its hard-folding tonneau covers production line at its newest facility in New York. This innovative company is marching steadfast in its pursuit of industry leadership.  

Toyota has a lot of work to do if wants to win the EV game

All in all, Toyota entered the EV game late and is quite behind. Although this doesn’t mean it still can’t pull off a victory, as Tesla is the written example that anything is possible, companies such as Worksport certainly raised the bar in terms what it has to accomplish.  

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