Worksport Ltd.
(Nasdaq: WKSP) (the “Company” or
“Worksport”), is engaging in active negotiations with three major
global automakers interested in partnering with the Company to
develop unique versions of its proprietary and groundbreaking SOLIS
solar folding truck bed cover and the allied portable COR energy
storage system for their upcoming EV / Truck models. The first is
Hyundai, following an announcement earlier this year of a letter of
understanding with the Hyundai America Technical Center, Inc.
(“HATCI”) in which both parties agreed that Worksport would produce
prototypes of SOLIS and COR for Hyundai automotive products.
“The second company, a Canadian division of one
of the largest and most well-known global automakers, has indicated
it is very interested in taking on our products for its internal
combustion and future electric truck models,” said Worksport CEO
Steven Rossi. “We are in talks to determine what that relationship
will look like as we get our U.S. manufacturing in New York state
online and operational. The third, a major U.S. manufacturer, has
been engaging in lengthy and extensive weekly talks with Worksport
in an effort develop a functional and exclusive prototype to
present to top company executives in the coming months.”
Worksport has pioneered the development of
proprietary patented folding tonneau covers for the
multi-billion-dollar light truck market as well as several related
breakthrough products: SOLIS, a folding truck bed tonneau cover
with integrated solar panels and COR, a portable energy storage
system with modular batteries and advanced hot-swap technology.
Together, SOLIS and COR are expected to significantly transform
both gasoline-powered and the many new electric pickup trucks,
allowing them to become mobile solar power generation systems
capable of forming portable nanogrids, producing and storing power
anywhere, anytime.
These discussions again demonstrate Worksport’s
successful strategy of prioritizing long-term growth through
strategic OEM relationships with major manufacturers that aim to
increase value for the Company’s shareholders while intending to
deliver long term gains for them. This is in addition to its
current direct-to-consumer model, selling through Amazon, eBay, and
Walmart marketplaces.
“With this update, we are reminding investors
that Worksport management and staff continue to perform and deliver
on our publicly announced goals to expand our highly promising
patented SOLIS and COR product lines not just in North America but
also globally. Worksport is relentlessly focused on expanding these
two uniquely innovative products, and we intend to deliver on our
promises to the industry and to investors,” Rossi said.
Possible contracts with any one of these
automotive manufacturers might encompass Worksport’s original
tonneau covers, or the SOLIS and COR products and the Company seeks
to be ready to meet the manufacturing needs of automakers via its
new manufacturing facility, currently being outfitted with cutting
& milling, metal bending, automated sewing, plastic
application, and tarp-cutting machinery to facilitate majority
automation.
“We are deeply focused on bringing the best and
most compelling sustainable energy products to market and look
forward to deeper discussions with these and other automotive
manufacturers as we pursue a number of opportunities,” said
Rossi.
In anticipation of this continued growth, Rossi
said he was very pleased to announce that the company has created a
new key role —Director of Business – starting September 1, 2022.
“This individual has decades of experience working directly with
various OEMs and had B2C and B2B experience,” Rossi said.
“Management believes he should be an important asset for the
company, focused on revenues and bringing value to its shareholders
based on his most recent experience with a leading manufacturer of
restyling and protective automotive products for pickup trucks,
SUVs and passenger cars.”
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP), through its
subsidiaries, designs, develops, manufactures, and owns the IP on a
variety of tonneau covers, solar integrations, and NP
(Non-Parasitic), Hydrogen-based true green energy solutions for the
sustainable, clean energy, and automotive industries. Worksport
Ltd. seeks to capitalize on the growing shift of consumer mindsets
towards clean energy integrations with its proprietary solar
solutions, mobile energy storage systems (ESS), and NP
(Non-Parasitic), Hydrogen-based technology. For more information,
please visit www.shopworksport.com, www.worksportltd.com and
www.terravisenergy.com
Connect with
Worksport:
Please follow the company’s social media
accounts on Twitter, Facebook, Linkedin, and Instagram, as well as
sign up for the company’s newsletters at www.shopworksport.com,
www.terravisenergy.com or www.worksportltd.com. Worksport Ltd.
strives to provide frequent updates of its operations to its
community of investors, clients, and customers to maintain the
highest level of visibility.
Linkedin
Facebook
Twitter
Instagram
YouTube
For additional information, please
contact:Steven ObadiahInvestor
RelationsWorksport Ltd.T: 1-(888)
506-2013E: investors@worksport.comW:
www.worksportltd.com
Forward-Looking Statements
The information contained herein may contain
"forward‐looking statements." Forward‐looking statements reflect
the current view about future events. When used in this press
release, the words "anticipate," "believe," "estimate," "expect,"
"future," "intend," "plan," or the negative of these terms and
similar expressions, as they relate to us or our management,
identify forward‐looking statements. Such statements include, but
are not limited to, statements contained in this press release
relating to the view of management of the Company concerning its
business strategy, an up listing to a national exchange, future
operating results and liquidity and capital resources outlook.
Forward‐looking statements are based on the Company's current
expectations and assumptions regarding its business, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict.
The Company's actual results may differ materially from those
contemplated by the forward‐looking statements. They are neither
statements of historical fact nor guarantees of assurance of future
performance. We caution you therefore against relying on any of
these forward‐looking statements. Factors or events that could
cause the Company's actual results to differ may emerge from time
to time, and it is not possible for the Company to predict all of
them. The Company cannot guarantee future results, levels of
activity, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States,
the Company does not intend to update any of the forward‐looking
statements to conform these statements to actual results. No Stock
Exchange or Regulation Services Provider accepts responsibility for
the adequacy or accuracy of this release.
Worksport (NASDAQ:WKSPW)
Historical Stock Chart
From Sep 2024 to Oct 2024
Worksport (NASDAQ:WKSPW)
Historical Stock Chart
From Oct 2023 to Oct 2024