West Seneca, New York, Oct. 26, 2023 – Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is pleased to announce that it has received interest from a leading Canada-based automotive aftermarket reseller for the Company’s hard-folding tonneau covers. The Company has already sent product samples to this reseller as well. The potential customer has an impressive annual sales volume surpassing $10 billion CAD. As it would be a private-label customer, the Company cannot disclose its name at this time.
This interest comes on the heels of executing a $16 million USD annual sales agreement for its hard-folding and soft-folding covers with a leading U.S. aftermarket reseller earlier this year. Worksport is once again diligently working to grow and increase its revenues.
Management believes that entering into yet another potential collaboration signals the robust demand and confidence in Worksport’s cutting-edge truck bed covers. This development further fortifies the Company’s position in the aftermarket space and underscores its growth trajectory.
This year and next year will see Worksport branching out into the cleantech sector with its highly anticipated SOLIS Solar Cover, coupled with its COR Battery System. This game-changing combination serves dual purposes: providing additional driving range for electric pickup trucks of partnering OEM brands and furnishing off-grid power in remote locations to most pickup trucks.
Several major automotive manufacturers have expressed a keen interest in Worksport’s innovative solutions, with a notable partnership already announced with Hyundai.
While Worksport’s U.S. factory is taking steps to meet the high demand, it is simultaneously preparing for the launch of the SOLIS Solar Cover with COR Battery System. The Company expects to update investors soon on its progress.
Steven Rossi, CEO of Worksport, is brimming with enthusiasm for what the future holds. “After recently announcing the $16 million sales agreement, the fact that another top-tier aftermarket reseller has shown interest in our products just further illustrates the trust and interest in our brand. While there’s much ground to cover, these developments act as tremendous motivators. We’re more committed than ever to amplify our factory capabilities and present unyielding value to our investors,” Rossi remarked.