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EVs Need The Power Of A.I And Customized Semiconductors To Reach The Finish Line


It’s a well-known fact that Tesla Inc TSLA is much more than an EV company. Moreover, it could even challenge the AI chip leader someday in the future. Despite its mind-blowing results, even the leadership of Nvidia Corporation NVDA is threatened by the fact its clients such as Microsoft Corporation MSFT are running to make AI semiconductors in-house. The EV king, Tesla Inc is also among those who flexed its innovative muscle to make its customized A.I. chips in-house. Last year, Elon Musk stated that Tesla plans to spend $2 billion to build its A.I. supercomputer. Moreover, Morgan Stanley stated in September that with its new supercomputing power, Tesla could position itself as a strong rival even to Nvidia.

Even the automotive accessory creator Worksport tapped into the semiconductor expertise.

Earlier in February, Worksport revealed its partnership with Infineon Technologies IFFNNF, a global designer and manufacturer of semiconductors and semiconductor-based solutions specialized in automotive and industrial end markets. Through this collaboration, Worksport aims to reduce the cost and weight of its portable power stations. By using Infineon’s GAN power semiconductors, Worksport will be able to boost the efficiency while lowering the weight, size and cost of its power converters used in its COR portable battery system. More precisely, Infineon’s technology will empower Worksport to lower the weight of its battery system by 33% and reduce system costs by up to 25%.

While finalizing the COR battery system, Worksport is also preparing its power pal, the SOLIS solar-powered tonneau cover. The power-on-go duo promises to enhance the range of electric pickup and provide off-grid power. Today, Worksport also revealed its new distribution partner, Canada’s leading wholesaler of aftermarket truck products, Dix Performance North. Dix Performance North covers all major car and truck brands, including automotive giants like Ford Motor F, General Motors GM, Toyota Motor TM, Hyundai Motor Company HYMTF, and Stellantis N.V. STLA, and from now on, it will also include Worksport’s covers. Earlier this week, Worksport also revealed a version of its SOLIS solar cover will be available for the Ford F-150 Lightning. Although the electric version of its iconic pickup didn’t succeed to awaken the luster of its internal-combustion-engine counterpart, Worksport’s solar-powered tonneau cover could help Ford boost its appeal. Ford has been struggling on the EV front and scaling back its EV ambitions, but it has no doubt that EVs are here to stay so it definitely needs all the help it can get.

Through Infineon that is banking in the AI boom, Worksport gained access to powerful breakthroughs on this revolutionary front.  

Infineon Technologies is heavily betting on the AI boom to boost their chip sales. Infineon CEO Jochen Hanebeck stated today that the company is positioned to generate billions in revenue and grow by selling higher price chips. For the 2024 fiscal year, Infineon expects to generate revenues in the low three-digit million euros range, while guiding for annual revenues of around one billion euros in a matter of few years. However, although Infineon posted record results for the 2022/2023 fiscal year, it also scaled back its targets for 2023/2024 due to a weakening macroeconomic outlook. But, despite its lowered guidance, the potential for lucrative semiconductor sales is undoubtedly there as both tech and EV companies need them.

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.


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