Another week, another lineup of news on the EV front. Reuters reported that Panasonic and Tesla Inc (NASDAQ: TSLA) jointly-operated battery factory will be increasing production. While Tesla CEO Elon Musk revealed that the company will deliver its new Cybertruck before the end of the third quarter of the year which translates to the July-September period, many exciting news are on the EV front, promising to give Tesla a run for its EV money.

Renowned pickup tonneau cover manufacturer Worksport Ltd (NASDAQ: WKSPW) just announced it improved the quality and power of its COR portable energy system that promises to disrupt the EV race. Volkswagen  (OTC: VWAGY) announced it is returning its iconic bus with the all-electric ID.Buzz. Meanwhile, Stellantis (NYSE: STLA) is ramping up its EV production and gearing up its Rennes factory for electric SUV production with an additional investment of 160 million euros (6.13 million).

Volkswagen’s Longwaited Electric EV Bus

Volkswagen just introduced a modern yet nostalgic 2025 VW ID in the U.S. Buzz three-row electric microbus will be available sometime in 2024 but America’s first ever version of the ID Buzz already launched a new tradition as of this year, under which June 2nd will be celebrated as “International Volkswagen Bus Day“. The star of the show is the electric version of Volkswagen’s groovy 60’s era bus that is both faster and roomier.

The Improved COR Is Coming

Under the guidance of Dr. Rafael Olivera, Worksport’s revolutionary portable battery power generator system has been fully redesigned and improved since the last update in September last year. Worksport has improved COR’s power capacity from 2kW to 3kW. What is impressive is that Worksport has achieved to boost the output by 50% without increasing the unit's size by boosting power density, allowing the company to maintain its estimated retail price and protect the anticipated profit margins. Worksport CEO Steven Rossi promises that with the COR system alongside the company’s proprietary SOLIS solar tonneau cover, workplaces and campsites will never be the same. Moreover, Worksport’s revolutionary technology will also be able to give EVs an extra power boost with a simple plugin. After finalizing the design, establishing the supply chain and obtaining the UL certification, COR should enter production later this year. Equipped with Worksport’s SOLIS ground-breaking tonneau cover, Hyundai’s Santa Cruz pickup promises to become a worthy opponent to the Cybertruck.

Stellantis Is Ramping Up

The Tesla rival, Netherlands-based automaker, is also entering the electric pickup market with its all-electric 2025 Ram 1500 REV which is expected in the fourth quarter of 2024. Along with its news of additional investment in its electric SUV goals, the so-called Tesla foe has already committed to 100% of its European and 50% of its US vehicle sales to be battery electric vehicles by the end of the decade, with sales of 75 BEV models and 5 million BEV units, while it aims to become 100% electric by 2038.

All in all, Tesla's rivals are determined to try to dethrone the EV king. As startups and automakers continue trying to at least catch up to Tesla who was the one who opened the EV chapter. Now, the EV myth that was first told by Tesla is becoming a legendary new reality of the entire transportation industry.

Source : YAHOO!Finance