Cryptocurrency

Cryptocurrency Miners Are Eagerly Awaiting News From Nvidia

The incoming Biden administration is planning to pump $2 trillion into renewable energy infrastructure and EVs play big role in this greener future. Most of the talk about electric cars revolves around Tesla (NASDAQ: TSLA) who will report its fourth-quarter and full-year 2020 financial results today after market close and the market is getting ready for new records. But, legacy automakers such as Ford Motors (NYSE: F) are entering the electric race and innovative companies such as Worksport (OTC: WKSP) are supplying the equipment new entrants need to join as well as they are it is attempting to solve the electrification puzzle a slightly different way.

Tesla

Considering vehicle sales are its main revenue stream, deliveries are behind the earnings result and Tesla already released its Q4 2020 figures. Although this could be slightly adjusted with the report, Tesla revealed it delivered 180,570 and produced more than 179,757 cars between October and December last year. This is a new record that beats the prior one that Tesla achieved in the previous quarter by approximately 40,000 electric cars. The market is embracing for record revenue and earnings, but the question on everyone’s minds is can Tesla keep the momentum, so 2021 projections will be just as important. A big contributor to itsgrowth is going to be Model Y in Shanghaiwhich just launched, along with the start of production at Gigafactory Berlin and Gigafactory Austin, but that will happen later in the year. Tesla also needs to provide updates on Tesla Semi, Roadster and the Cybertruck.

Ford

Ford Motor had $157.3 billion in debt in September 2020 which is about the same as the year before. However, because it has a cash reserve of $29.5 billion, its net debt is actually less at about US$127.8 billion. When it comes to brand strength in pickup trucks, Ford is showing that it is still the leader with its F-150 and this might be the case with its electric version. According to a new survey by Cox Automotive, the upcoming Ford F150 Electric is more appealing that Tesla’s Cybertruck to potential electric pickup buyers, leaving behind Rivian R1T and General Motor’s (NYSE: GM) Hummer.

However, little is known about its specs while we know almost everything about the other three models.

Back in 2018, Ford revealed its game plan to go electric as back in 2018. Last year, it confirmed its the fastest and most-powerful F-150 ever but all we know that its arrival is scheduled for 2022. The legendary company recently began selling its first U.S. electric model, the Mustang Mach-E sport-utility vehicle, and it has scored well among car reviewers.

Ford hasrecently posted some of its biggest stock-market gains in years. Its shares have risen about 31% in January that became its best month since July 2009. What also helped propel the stock is Deutsche Bank that suggested Ford could deliver brighter-than-expected profit outlook for 2021 when it reports fourth-quarter earnings on February 4th.

Ford also benefited from the electric-vehicle rally as a shareholder in Rivian Automotive LLC, which just scored another huge cash investment of $2.65 billion and is now valued at $27.6 billion. In spring 2019, Ford invested $500 million in Rivian that claims its R1T pickup will be nothing short of impressive and therefore, power Ford to new heights.

Worksport

This Canadian-based company is bringing electric pickups to a whole new level with its TerraVis solar system. Worksport is already well positioned within the tonneau cover business as an innovative manufacturer but its solar-powered tonneau covers are a game changer.

Moreover, it was recently granted a trademark protection for TerraVis COR™ mobile battery system that is the first in the industry. Worksport has gained an entry ticket to the consumer goods market as this battery system can be purchased and used without the TerraVis solar tonneau cover. The company already partnered with Hercules Electric Mobility Inc., to be a Tier One OEM supply partner for its forthcoming Alpha Electric Pickup. It also has an agreement with Atlis Motor Vehicles to configure TerraVis™ solar charging system as an OE accessory for the technologically advanced Atlis XT electric pickup truck.

Takeaway

The electrification of pickup trucks is essential to a wider EV adoption in the US. With 2.9 million pickups sold last year, they are the biggest segment of passenger vehicles and their electric versions are finally coming this year. Have no doubt, these three companies will be behind the wheel, along with a few others that will try to give Tesla a run for its money.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: [email protected] Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: [email protected]

Ford hasrecently posted some of its biggest stock-market gains in years. Its shares have risen about 31% in January that became its best month since July 2009. What also helped propel the stock is Deutsche Bank that suggested Ford could deliver brighter-than-expected profit outlook for 2021 when it reports fourth-quarter earnings on February 4th.

Source: https://iamnewswire.com/2021/02/01/cryptocurrency-miners-are-eagerly-awaiting-news-from-nvidia/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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