this article is about two big car companies, GM and Ford, who are making more electric vehicles (EVs). These EVs are cars that run on electricity instead of gasoline. Both GM and Ford sold more EVs in the second quarter of the year. Even though it's still a small part of all the cars they sell, they are working hard to make more EVs because they're good for the environment. Read from source...

In the article "Electric Pickups And SUVs Continue To Power Up GM And Ford's EV Progress", Upwallstreet, Benzinga Contributor seems to show optimism for Ford and General Motors' electric vehicle (EV) progress despite numerous challenges. While the report states that Ford managed to grow its all-electric car sales, with EVs making up 4.4% of its total volume, it conveniently overlooks that the overall sales figures for Ford have contracted by 6% YoY. Additionally, while the report claims that General Motors' EV deliveries reached a record, it fails to mention that EVs still made up only 3.2% of its total second-quarter sales. The report also makes light of General Motors failing to comply with the Clean Air Act, stating that it only resulted in a $145.8 million penalty, which could be seen as a downplay of the severity of the issue. Furthermore, the article's author appears to promote General Motors and Ford's continued reliance on pickup trucks and SUVs, citing their significant contribution to overall sales figures, despite the pressing need to shift towards sustainable and eco-friendly vehicles. Overall, the article seems to provide an overly optimistic outlook on the progress made by these two automakers in the electric vehicle space, without adequately addressing the challenges and drawbacks associated with their current strategies.

bullish

The article discusses the continued progress of both Ford and General Motors in the EV market. Ford has seen its all-electric car sales grow, with EVs making up 4.4% of its total volume in the most recent quarter. Meanwhile, General Motors has reported record EV sales, with growth of 40% YoY, although this still only makes up 3.2% of its total second-quarter sales. Both companies are also benefiting from strong sales of pickup trucks, with General Motors seeing a 6% YoY increase in full-size pickup truck deliveries.

1. Ford Motor Company (F) - Despite challenges, F has shown growth in their EV sales. Their share of EV sales has grown from 3.5% to 4.4% YoY. Also, F-150 Lightning sales grew 79% YoY to 2,552 units.

Risks: F's overall sales contracted 6% YoY, though growth in EV sales could offset this in the long run. Also, F failed to comply with the Clean Air Act and will need to pay a $145.8 million penalty.

2. General Motors (GM) - GM has reported record EV sales that grew 40% YoY to 21,930, boosted by a jump in deliveries of the Cadillac Lyriq. Their second quarter EV deliveries reached a record, while full-size pickup truck deliveries were the highest since 2021.

Risks: GM failed to comply with the Clean Air Act and will need to pay a $145.8 million penalty. Also, GM's overall sales contracted 0.4% YoY to almost 1.3 million vehicles.

3. Worksport Ltd (WKSP) - This company is releasing a solar-powered tonneau cover called SOLIS, which will be accompanied by COR, a portable battery system. This innovation promises to ease range anxiety of EV drivers while providing off-grid power on the go.

Risks: The success of this product is yet to be seen, as it has not yet been released. Additionally, investing in small-cap companies like WKSP can be riskier compared to larger companies.

Overall, investing in these companies could potentially benefit from the growth in EV market. However, it is essential to conduct further research and consider overall market trends before making any investment decisions.