financetom
Technology
financetom
/
Technology
/
Embracing Emerging Technologies To Bring The Automotive Industry To The Next Level
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Embracing Emerging Technologies To Bring The Automotive Industry To The Next Level
Mar 14, 2024 11:25 AM

The EV revolution forced the automotive industry to evolve. But even the EV king, Tesla Inc ( TSLA ) has woken up to a harsh reality of a cooling EV market, a problem that can't be fixed by lowering prices. On Wednesday, Tesla stock tumbled as Wells Fargo analyst labeled Tesla as a growth company that is not growing. But, this doesn't come as a surprise considering that Tesla itself guided for 2024 sales volume growth to be below levels seen over the previous years due to the macroeconomic backdrop and intensified competition. Fortunately, the EV narrative goes beyond Tesla itself.

With its latest news, innovative automotive accessory maker commited to providing clean energy solutions, Worksport ( WKSP )  showed the importance embracing emerging technologies for unlocking new value that the industry desperately needs. Worksport ( WKSP ) recently announced it will be bringing its game-changing solar-powered duo, SOLIS tonneau cover and COR portable battery system to the market this summer. Today, Worksport ( WKSP ) showed how it aims to revolutionize the industry and push the boundaries of innovation.

Worksport ( WKSP ) aims to advance power electronics with gallium nitride semiconductors.

Worksport ( WKSP ) sees silicone-based semiconductors presently used by major chip manufactures such as NVIDIA Corporation ( NVDA ) as an opportunity to bring innovation in the automotive industry to the next level. The automotive accessory maker chose GaN-powered semionductors due to their potential to provide superior performance, increased efficiency, while reducing the size and weight compared to existing solutions, such as the ones offered by Nvidia ( NVDA ). Also, with improved thermal management, GaN is able to withstand higher temperatures than silicone. Therefore, Workpsort is hoping to raise the bar for efficiency, performance, reliability and durability of energy solutions in the automotive sector.

With its recently announced partnership with Infineon Technologies AG ( IFNNF ) , a leading producer of GaN semiconductors, Worksport ( WKSP ) aims to push the boundaries of semiconductor innovation by integrating GaN into future versions of its COR mobile battery system. Infineon ( IFNNF ) markets semiconductors for automotive, as well as industrial, and multimarket sectors.  During the past financial year, Infineon ( IFNNF ) reported record results. But due to a weakening macroeconomic backdrop on a global level, even Infineon ( IFNNF ) adjusted its targets for the current year downwards.

Nvidia ( NVDA ) will also be hosting its GTC AI Conference next week, and therefore, it is expected to deliver AI innovation updates. Although Nvidia ( NVDA ) reached new heights thanks to its booming semiconductor business that is almost solely responsible for its growth, even Nvidia ( NVDA ) hinted that something even bigger is on the horizon. The industry has approached the theoretical limit of how much silicone-based technology can be improved. Embracing emerging technologies is the logical next step in bringing the industry to a new level.

DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This Is What Whales Are Betting On ASML Holding
This Is What Whales Are Betting On ASML Holding
Oct 10, 2024
Deep-pocketed investors have adopted a bearish approach towards ASML Holding ( ASML ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ASML ( ASML ) usually suggests something big is about to happen. We...
Behind the Scenes of Intel's Latest Options Trends
Behind the Scenes of Intel's Latest Options Trends
Oct 10, 2024
Investors with a lot of money to spend have taken a bearish stance on Intel ( INTC ) . And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big...
Key Takeaways From Atlassian Analyst Ratings
Key Takeaways From Atlassian Analyst Ratings
Oct 10, 2024
Analysts' ratings for Atlassian ( TEAM ) over the last quarter vary from bullish to bearish, as provided by 12 analysts. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 6 4...
AMD CEO says not seeking partner beyond TSMC for advanced manufacturing
AMD CEO says not seeking partner beyond TSMC for advanced manufacturing
Oct 10, 2024
Oct 10 (Reuters) - Chipmaker Advanced Micro Devices does not currently have plans to use contract manufacturers beyond Taiwan's TSMC for advanced manufacturing processes which are used to produce speedy AI chips, CEO Lisa Su said at an event on Thursday. We would love to use more capacity outside of Taiwan. We are very aggressive in the use of TSMC's...
Copyright 2023-2026 - www.financetom.com All Rights Reserved