Tesla Inc. (NASDAQ: TSLA) has pioneered and led the EV space under the visionary leadership of Elon Musk. However, regulatory challenges, competition and an unfavorable macroeconomic environment have led an ambitious Tesla to focus on building affordable vehicles while autonomous driving remains a work in progress. Tesla aims to build a more cost-efficient next-generation EV at its new factory in Mexico.
Meanwhile, Intel Corp. (NASDAQ: INTC) companies have just unveiled solutions to EV challenges, and Worksport Inc. (NASDAQ: WKSP) is about to release an alpha version of a long-awaited solar-powered accessory for pickup trucks, having just been recognized as an innovator for its contributions to the automotive sector.
Intel to lower EV manufacturing costs and improve EV performance
Intel has announced a new SOC solution to accelerate EV innovation. The groundbreaking OLEA U310 SoC streamlines e-motor technology and reduces EV design and manufacturing costs. The new OLEA U310 system-on-chip (SoC), announced today by Silicon Mobility, an Intel company, is expected to increase the efficiency of existing battery technology with energy savings at the vehicle level. An industry first, this next-generation technology is also expected to improve the overall performance of EVs while streamlining design and manufacturing.
Buffalo Business First Names Worksport Innovator of the Year
Worksport was honored as this year’s Innovator for its pioneering advancements in the automotive field. Alpha versions of Worksport’s SOLIS solar-powered truck bed cover and COR portable battery system are expected to be available as early as this summer. SOLIS will be the first solar-powered integrated tonneau cover on the market, reflecting Worksport’s innovative edge. Together with COR, Worksport brings a groundbreaking power duo to the industry, allowing off-grid power on the go. Entering a multi-billion-dollar market, the SOLIS cover is expected to be compatible with Ford Motor (NYSE: F) F-Series, General Motor (NYSE: GM)-owned Chevrolet Silverado, and Stellantis (NYSE: STLA) Ram pickups, and will also offer the option of partnering with Tesla. Meanwhile, COR will be available to all consumers, regardless of pickup, allowing anyone to power almost anything, anywhere. So Worksport’s pitch isn’t just about developing a battery that will extend pickup truck range and ease EV range anxiety, it’s also promising to create an outdoor experience like no other.
2024 – The year of EV innovation
2023 is the year of the electric pickup, with Tesla’s long-awaited Cybertruck finally launching. In May, GM and Ford showed they could refute the EV slowdown thanks to electric pickups and SUVs. This year, Worksport promises to revolutionize the auto accessories market with integrated solar technology for pickups, and Intel plans to accelerate EV innovation.
Disclaimer: This content is for informational purposes only. It is not intended as investment advice.
This article is an unpaid outside contributor, does not reflect Benzinga reporting, and has not been edited for content or accuracy.
Up your stock market game with Benzinga Pro, the #1 “News and Everything Else” trading tool in the “Active Investor’s Secret Weapon” – Start your 14-day trial now by clicking here.
Want the latest stock analysis from Benzinga?
This article, “Technology Innovation Solves EV Challenges,” originally appeared on Benzinga.com.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
