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2023 has already been named as the year of the pickup. Tesla Inc TSLA is finally entering this market with its eagerly awaited Cybertruck that is finally entering protection and going on sale later this year. With reportedly 1.6 million orders, all that Tesla has to do is ensure the manufacturing capacity to meet the demand as analyst predict the electric pickup will become mainstream like as the company’s Model Y.
Toyota Is Trying To Solidify Its Position For The New Automotive Era
The automotive giant Toyota Motor Corporation TM has fully redesigned its Tacoma model so the 2024 model can compete with the Ford Ranger and Chevy Colorado. On Wednesday, Toyota also revealed it is committing an additional $2.1 billion in its new battery plant in North Carolina, U.S., which brings the total battery investment to $5.9 billion. Toyota also revealed that its first electric SUVs will be assembled at its facility in Kentucky as of 2025, and they will be powered by batteries from the North Carolina plant.
Kia Confirms New Pickup For Australia
Kia Corporation confirmed that its pickup that will be rivaling Toyota Hilux and Ford Ranger is coming in 2025 on the Australian market.
Worksport Launches New Soft Folding Tonneau Cover SC4 Pro
Worksport Ltd WKSP has just revealed an upgrade to its current SC4 tonneau cover that comes with enhanced functionality, durability, and security, allowing pickup owners to more easily open and close the cover. A perhaps even more important strategic move is that Worksport has given its customers high-end features at an affordable price point.
Besides the company’s e-commerce platform, Worksport products are available for sale through multiple distribution channels that include the e-commerce titan Amazon.com Inc AMZN and Walmart Inc WKSP. Steven Rossi, CEO of Worksport, stated on the occasion that the latest launch is part of the company’s ongoing commitment to deliver innovative solutions with a superior user experience. Along with this launch, Worksport continues making progress in building its hard-folding tonneau covers at its New York facility. The market continues to eagerly wait for updates regarding the company’s innovative solar-powered tonneau cover SOLIS as well as portable battery system COR. Hyundai is one of the automakers whose Santa Cruz Pickup Truck model will be enhanced by this groundbreaking technology. Is catching up to Tesla even possible?
The fact alone that Tesla is entering the pickup market is disrupting on its own as this is a company that already redefined electric vehicles with design and specs the automotive industry has never seen before. Then there’s also the promise of the Cybertruck doing something for the pickup market like what Hummer did for SUV drivers in the 2020s, and pickups are, after all, the most lucrative car segment in the U.S. and Tesla is about to enter it. This market has been very straight forward and strict but Tesla already proved it is able to change the rules of the game entirely. However, with other disruptive players in the field like Worksport, this is the first time in EV history that other automakers have a shot at playing against Tesla.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
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