Yahoo Finance Worksport completes sample production of hard-folding truck bed covers for shipment to potential private-label customers.
Richmond Hill, Ontario, Canada, May 10, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (the “Company” or “Worksport”) is pleased to announce that it has completed its production of samples of the Company’s hard-folding light truck bed covers at its West Seneca, N.Y. manufacturing facility. The covers are expected to be shipped to potential clients interested in purchasing large quantities of the Company’s US-assembled products.
“Completing our hard-folding cover samples is yet another milestone on the Company’s path to generating revenue across its product lines,” said Worksport CEO, Steven Rossi. “As forecasted earlier in the year, we intend to assemble this market-leading product domestically for the multi-billion-dollar light truck industry. We have invested substantially in R&D and are pleased to design and assemble the products in North America. Based on the samples, we look forward to receiving product feedback from our potential private-label customer.”
With the Company’s manufacturing line delivered and installed last month and currently undergoing testing, along with Company employees undergoing training, Worksport's hard-folding tonneau covers are expected to be market-ready upon production. The Company will update investors when this process is completed.
“The anticipated interest in hard-folding light truck covers assembled in our American factory confirms the Company’s strategy of sourcing this manufacturing line. Soon, the delivery of our hard-folding tonneau covers from our U.S. factory can begin,” Rossi said. “All of us at Worksport will be very proud to get these products off the line and into the hands of our partners and consumers, who have told us they are eagerly awaiting them. We believe Worksport will be well on the way toward our long-predicted goal of revenue growth once production can start.”
Following customer feedback, the Company intends to provide updates to investors and shareholders regarding the Company’s hard-folding tonneau cover production. The Company also anticipates providing additional information about the Company’s newly-redesigned COR advanced hot-swap battery system, which must be tested and completed before its companion SOLIS solar tonneau cover can be produced and sold.
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 www.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 www.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.
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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," 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 subsequent 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.
