As e-mobility is the future of transportation, auto companies are revving up efforts to transform their portfolio in accordance with the changing dynamics of the industry. Last week at the Florida RV Super Show, recreational vehicle (RV) giants
Winnebago Industries ( WGO Quick Quote WGO - Free Report) and Thor Industries ( THO Quick Quote THO - Free Report) presented ground-breaking e-RV concepts demonstrating their prowess and commitment toward innovation.
Cummins Inc. ( CMI Quick Quote CMI - Free Report) is also looking for steady ground in zero-emission vehicle offerings and has been making efforts to increase its outreach. To this end, the engine giant partnered with Isuzu Motors, which seeks to steer de-carbonization initiatives for both the companies. Meanwhile, U.S. auto giant General Motors ( GM Quick Quote GM - Free Report) also made it to the headlines with its decision to invest $154 million in the Lockport plant to boost its EV prowess. The company also teamed up with Blink Charging ( BLNK Quick Quote BLNK - Free Report) for the supply of EV chargers at the U.S. auto giant’s dealerships. Top Stories of the Week
Winnebago introduced e-RV, its first all-electric, fully functional, zero-emission motorhome concept that redefines efficiency, comfort and functionality. The e-RV was developed over a span of two years by the company’s Advanced Technology Group (“ATG”). The product has appealing, avant-garde features. It comes with in-vehicle appliances aligned to optimize energy usage and battery performance while maximizing comfort and functionality. There are provisions for flexible battery charging source capabilities to enable charging at home, campgrounds and dedicated charging stations.
The all-electric concept motorhome is the first of ATG work streams and testifies its commitment toward innovation and sustainability. The popular and rising demand for electric power applications is driving WGO to innovate in the RV space. Winnebago currently sports a Zacks Rank #1 (Strong Buy). You can see
. the complete list of today’s Zacks #1 Rank stocks here
Thor displayed two electric RV concepts, a motorhome and a travel trailer. The electric units are specifically designed to create a radical improvement of the RV user experience. The travel trailer concept, named eStream, is built on the company’s exclusive high-voltage electric chassis. It significantly reduces the loss of range for electric tow vehicles and improves gas mileage for traditional tow vehicles. The chassis offers a number of benefits, including faster charging than low-voltage alternatives and a better recharging experience that EV consumers seek.
The THOR VISION VEHICLE (TVV), its motorhome concept, is built on an electric chassis co-developed with Roush. The TVV motorhome includes a range of unique elements maximizing chassis performance. Thor has been focused on its electrification strategy for quite some time. Leveraging its position as the industry leader, THO combined emerging technology and years of research to develop scalable and customizable platforms to build future products.
Cummins and Isuzu have joined forces to create a blue-print medium-duty, battery-electric truck to demonstrate in North America. The truck represents the first zero-emissions solution offered by the Isuzu Cummins Powertrain Partnership formed in May 2019.
Per the arrangement, Cummins will incorporate its PowerDrive6000 into Isuzu’s F-Series truck and regulate the truck with North American fleets. The project is expected to begin in 2022. Upon the successful demonstration and pilot phase, Isuzu will explore avenues to commercialize medium-duty, battery-electric trucks with Cummins-powered systems across North America.
General Motors announced plans to invest nearly $154 million in the Western New York Lockport Components plant. The focus of the investment is to renovate the facility and purchase/install new machinery and equipment used in the production of the stator module, vital for an electric motor. In addition to gearing up for electric motor component production, the Lockport Component will continue building a variety of components that aid General Motors’ current truck and SUV production.
In another development, General Motors joined forces with
Blink Charging, per which the latter would deploy EV chargers at GM dealerships in the United States and Canada. Working together with a leading facility solutions provider ABM, Blink is supplying IQ 200 Level 2 chargers to the U.S. auto giant. The Blink IQ 200 chargers are the fastest Level 2 AC charging stations available that reduce charging times for new EVs coming to market.
BLNK has already shipped chargers to selected GM dealerships in all 50 states across the United States. Currently, it has orders on hand to supply the same in Canada over the next several months.
The following table shows the price movement of some of the major pure-play EV companies over the past week and six-month period.
Image Source: Zacks Investment Research What’s Next in the EV Space?
Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Investors are also keenly awaiting fourth-quarter 2021 results of EV behemoth
Tesla ( TSLA Quick Quote TSLA - Free Report) , scheduled to release on Jan 26, after the closing bell. The Zacks Consensus Estimate for Tesla’s to-be-reported quarter’s earnings and revenues is pegged at $2.11 per share and $16.07 billion, respectively.
Our proven model predicts an earnings beat for Tesla this time around, as it possesses the right combination of Zacks Rank and a positive earnings ESP. We believe the rising demand for Models 3 and Y is expected to buoy TSLA’s Q4 results. Tesla delivered 308,600 units in fourth-quarter 2021, surging 71% from the fourth quarter of 2020. Deliveries also breezed past its previous high of 241,300 in third-quarter 2021. In fact, fourth-quarter 2021 marked the sixth consecutive quarter of record deliveries by the world's most valuable automaker.