Ford Motor (NYSE:F) is trying to revitalize the sagging EV demand by addressing range anxiety or more precisely, by providing easier access to charging. Specifically, Ford offered free chargers by the end of the year in hopes to boost EV sales and leases.
Ford's Attempt To Revive EV Demand
As of October 1st, all those who buy or lease a Ford Mustang Mach-E, F-150 Lightning pickup truck or E-Transit Cargo van receive the benefit of a free charger as well as of its installation. After its EV roadtrips across Europe and western U.S., Ford came to a realization that by focusing on the charging infrastructure on the road, automakers neglected that homes are the most reliable and consistent charging station for EV owners.
Additional charging help is also on the way.
This month, Worksport Ltd (NASDAQ:WKSP), a well-established innovator and manufacturer of "made-in-the-USA" pickup accessories and off-grid power solutions, initiated the Alpha launch of its clean power duo, the solar-powered tonneau cover SOLIS and COR mobile battery power generator. Also in September, Worksport announced it conducted successful lab test results of its COR portable energy system as a range extender for Tesla EVs, including the Model 3 and the Cybertruck.
Moreover, Worksport also just revealed it is progressing towards gaining the ISO 9000 certification at its state-of-the-art West Seneca, NY factory anticipated by early-mid 2025.
Worksport's ISO 9000 Certification Update
With the ISO 9000 certification, Worksport would pave the way for OEM relationships, which means the possibility of indirect and direct sales to global car makers that include EV pioneers like Tesla Inc (NASDAQ:TSLA) and Rivian Automotive (NASDAQ:RIVN), as well as traditional automakers like Ford, General Motors (NYSE:GM), Hyundai Motor Company (OTC:HYMTF), Honda Motor Company (NYSE:HMC), Stellantis N.V. (NYSE:STLA), Nissan Motor Co Ltd (OTC:NSANY), and Toyota Motor Corporation (NYSE:TM). While there are no guarantees, the ISO 9000 certification is a prerequisite for becoming a vendor and supply partner of the industry's greatest names like Toyota, GM, Ford, Toyota and others. For Worksport, this would be a major strategic milestone in terms of both quality and operational excellence. Considering that only less than 7% of the tonneau cover industry holds this certification, it would position Worksport as a leading manufacturer, especially with its patented solar tonneau covers.
No matter what, the EV revolution is happening.
While these initiatives and novelties won't fix the EV slowdown nor Ford's $5 billion loss from its unprofitable EV unit that is expected this year, it does show that despite challenges, the EV evolution continues.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
