Worksport to Present its proprietary SOLIS and COR Products for Three Global Automotive Manufacturers

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Mississauga – August 4, 2022 – 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 to 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.worksport.com and investors.worksport.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.worksport.com or 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.

For additional information, please contact:

Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1-(888) 554-8789
E: investors@worksport.com
W: 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: a delay in the production of the T3 tonneau cover, supply chain delays, acceptance of our T3 tonneau cover and other 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 The Company encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this press release. 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.

Invest in Innovation

Nasdaq: WKSP

Starting as a producer of truck bed tonneau covers for pickups in the United States and Canada, Worksport has since evolved to position itself as an innovator in the automotive aftermarket.

Top Product: SOLIS Solar Cover & COR Battery

Key Innovations: Extra mileage EV Pickups OffGrid Mobile Power from the Sun.

Usability: For both EV Pickups & Petrol Pickups COR Battery with or without pickup

Other Products: Regular Hard and Soft-Folding Covers

WORKSPORT’S SOLIS & COR

Worksport SOLIS and COR provide an adaptable power source for off-grid power. Not just another battery, these powerhouses work in unison to offer continuous clean, rechargeable power from the sun. COR has a fully replaceable system that allows you to swap a depleted battery for a fresh one without losing juice. SOLIS charges batteries to be ready for the exchange.

The truck bed power system

Worksport’s truck bed power system kit will come with COR (which includes one hub inverter and one battery), SOLIS Folding Solar Tonneau Cover, rail mounting system, MPPT (solar charge controller), and all cables necessary.

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