Worksport Proudly Announces Qualified "Made in the USA" Designation for Certain Products
18 July 2023 - 10:00PM
Worksport Ltd. ("Worksport" or the "Company") (NASDAQ: WKSP; WKSPW)
is delighted to announce that certain of the Company’s hard tonneau
covers now qualify for an esteemed "Made in the USA" label.
This designation is a testament to Worksport's
commitment to maintaining a supply chain that ensures its products
are crafted and assembled in the United States, utilizing both
domestic and imported components. According to recent consumer
research, approximately 70% of survey respondents demonstrated a
preference for American-made goods, with more than 83% willing to
pay a premium of up to 20% for domestically manufactured items.
This perception is largely driven by the belief that products
having U.S. origin and assembly are of superior quality.
“We are thrilled to announce that Worksport can
use a qualified ‘Made in the USA’ label for our upcoming line of
innovative hard tonneau covers," stated Steven Rossi, CEO of
Worksport. "This is an essential milestone for the Company,
validating the high-quality products we manufacture and our
commitment to domestic production."
The announcement comes after the Company's
strategic acquisition of a manufacturing facility in upstate New
York in May 2022 and the recent relocation of its headquarters to
the same facility. The move will centralize Worksport's management,
production, and quality control under one roof and is expected to
lead to greater operational efficiencies and consistent product
quality.
"Manufacturing in foreign countries poses many
challenges for quality control and assurance procedures that are
better managed with management present at our facility," Rossi
commented. "As U.S. manufacturing begins, our focus will be to
ensure both quantity and quality in the production of our products.
It took a lot of effort, but we are pleased to announce this
qualification, a significant step forward for the Company."
The achievement of such a "Made in the USA"
qualification aligns with Worksport's mission to provide superior
quality products while supporting local communities and economies.
It further amplifies the Company's outlook and reinforces
Worksport's commitment to its customers, shareholders, and the
broader market.
For further information, please visit
Worksport’s official website for investors
at investors.worksport.com.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW),
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 investors.worksport.com
Connect with Worksport:
Please follow the company’s social media
accounts
on Twitter, Facebook, Linkedin, YouTube, and Instagram,
as well as sign up for the company’s newsletters at
investors.worksport.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 Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789
E: investors@worksport.com
W: www.worksport.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," “project,” or the negative of these
terms and similar expressions, as they relate to us or our
management, identify forward‐looking statements. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, 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 and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: supply chain delays,
acceptance of our products by consumers, delays in or nonacceptance
by third parties to sell our products, competition from other
producers of similar products. More detailed information about
the Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company’s filings
with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K and our Quarterly Reports
on Form 10-Q. Investors and security holders are urged to read
these documents free of charge on the SEC’s web site
at www.sec.gov. As a result of these matters, changes in
facts, assumptions not being realized or other circumstances, the
Company's actual results may differ materially from the expected
results discussed in the forward-looking statements contained in
this press release. The forward-looking statements made in this
press release are made only as of the date of this press release,
and the Company undertakes no obligation to update them to reflect
subsequent events or circumstances.
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