Richmond Hill, Ontario, Canada, May 10, 2023 — 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.
