Welcome to our dedicated page for Worksport, Ltd. news (Ticker: WKSP), a resource for investors and traders seeking the latest updates and insights on Worksport, Ltd. stock.
Worksport Ltd, under its subsidiaries, is a leading designer, developer, and manufacturer of tonneau covers, solar integrations, and hydrogen-based green energy solutions. The company's innovative products cater to the automotive and clean energy industries, with a focus on sustainability and eco-friendly solutions. Worksport has reported significant revenue growth, operational successes, and strategic collaborations, positioning itself as a key player in the market.
Worksport's product lineup includes soft vinyl and hard aluminum tonneau covers, as well as upcoming first-to-market solar tonneau covers and portable energy systems. The company's recent financial results for Q1 FY 2024 showcased impressive revenue increases, operational efficiencies, and gross margin improvements. Worksport's strategic investments in production, inventory, and expansion highlight its commitment to growth and innovation.
With a robust intellectual property portfolio, Worksport is well-positioned to lead the market with cutting-edge technologies and groundbreaking products. The company's partnerships, distribution networks, and growth forecasts underscore its trajectory towards transformative success in the automotive and clean energy sectors.
Worksport Ltd. (Nasdaq: WKSP; WKSPW) CEO Steven Rossi discussed the company's performance and innovative products, including the SOLIS solar tonneau cover and COR mobile energy storage system, during an interview on Bloomberg Radio on December 16, 2022. Rossi highlighted key market opportunities, especially in the new energy sector, emphasizing the growing demand for products that adapt to electric and gas vehicles. He noted a partnership with Hyundai and addressed concerns regarding economic challenges while expressing confidence in the resilience of the electric pickup truck market.
Worksport Ltd. (Nasdaq: WKSP) announced that CEO Steven Rossi's interview with Bloomberg Radio has been rescheduled to air at 10:45 AM EST on December 16, 2022. Rossi will cover the company's economic performance, challenges, and innovative products, including the SOLIS solar tonneau cover and the COR mobile energy storage system. The interview will be available on Bloomberg's flagship stations and streaming platforms.
Worksport Ltd. (Nasdaq: WKSP) announced that CEO Steven Rossi will be interviewed on Bloomberg Radio's "The Tape" today at 10:45 a.m. EST. Rossi will discuss the company's economic performance, future outlook, and breakthrough products, such as the SOLIS solar tonneau cover and COR mobile energy storage system. Bloomberg Radio is accessible across major U.S. cities and streaming online. Worksport focuses on sustainable energy solutions and aims to capitalize on the growing clean energy market.
Worksport Ltd. (Nasdaq: WKSP; WKSPW) is completing tooling for its COR portable energy storage system, preparing for market launch. This follows extensive research and development, with initial production-ready systems expected by late October, alongside its SOLIS tonneau cover with integrated solar panels. The CEO emphasizes the significance of these products in promoting renewable energy and reducing carbon emissions. The company is also set to engage with potential customers, including major OEMs, and is leveraging pre-sales feedback for marketing strategies.
Worksport Ltd. (Nasdaq: WKSP) has appointed Michael Scolnick as manager to oversee its new 220,000 sq. ft. assembly plant in West Seneca, NY. Scolnick brings over 25 years of manufacturing experience and is tasked with ramping up production of innovative products like the SOLIS truck bed tonneau cover with solar panels. CEO Steven Rossi emphasized this hire's significance for the company and its shareholders, marking a pivotal moment in Worksport's growth strategy. The company aims to capture the growing clean energy market with its proprietary solar solutions and energy storage systems.
Worksport Ltd. (Nasdaq: WKSP) has announced anticipated unrealized revenue of US$350,000-$450,000 from pre-orders of its innovative solar truck bed tonneau cover, SOLIS, and portable energy storage system, COR. Management attributes this success to a stronger-than-expected pre-sale performance despite minimal marketing efforts. The company plans to initiate manufacturing by Q4 2022 at its West Seneca, NY facility. CEO Steven Rossi expressed optimism about the potential disruption of the EV and energy storage markets, highlighting that customer insights gained will inform targeted marketing efforts.
Worksport Ltd. (Nasdaq: WKSP) has launched its new eCommerce platform aimed at enhancing sales of its patented truck bed tonneau covers and renewable energy solutions. The platform features products like the SC3, SC3 Pro, and SC4 covers, as well as the innovative SOLIS solar-integrated cover and COR portable energy storage system. CEO Steven Rossi emphasized the importance of this launch for controlling production and sales. The online site will also connect to major retailers such as Amazon and Wal-Mart, providing additional revenue opportunities.
Worksport Ltd. (Nasdaq: WKSP) is in negotiations with three major global automakers, including Hyundai, to develop proprietary SOLIS solar truck bed covers and COR energy storage systems for upcoming EV models. CEO Steven Rossi highlighted the interest from a Canadian division of another global automaker and a major U.S. manufacturer. The company's innovative products aim to transform the light truck market into mobile solar power generators. A new Director of Business position will support these efforts beginning September 1, 2022, reinforcing Worksport's commitment to growth and sustainability.
Worksport Ltd (Nasdaq: WKSP) has secured $1.15 Million in matched funding from MITACS, in collaboration with the Canadian Federal government, through its subsidiary Terravis Energy Inc. This funding aims to advance the development of a 50-kW non-parasitic electric vehicle (NPEV) fast charging system. The grant proposal was peer-reviewed and emphasized the project's feasibility, promising extensive research applications. The funding facilitates the enterprise implementation of the NPEV system, with initial production planned in 60 days following the project's successful phase one completion.
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