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.
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Worksport Ltd. announces expansion of its B2B dealer network in the U.S. and Canadian markets, aiming to increase product accessibility and presence. The company plans to establish partnerships with major platforms such as Amazon, eBay, and Walmart. Worksport anticipates beginning sales efforts in early February and is strategically focused on seizing a share of the estimated $3 billion Tonneau Cover Market. The cornerstone product, the AL3 Hard-Folding Tonneau Cover, is expected to be compatible with popular truck models and will be available on major platforms via B2B resellers. Worksport is dedicated to offering the highest quality and best discounts to support its dealer network, aiming to bring its Made-in-America products to American consumers. The CEO, Steven Rossi, expresses eagerness to see Worksport covers on pickup trucks nationwide, reflecting the company's commitment to quality, innovation, and customer satisfaction.
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Worksport Ltd. (Nasdaq: WKSP) announces the launch of its first hard-folding tonneau cover, the Worksport AL3 PRO Low Profile Aluminum Tonneau Cover, made in the USA and designed to set new standards in the truck accessory market. The product is expected to be compatible with popular truck models, including RAM, General Motors brands, Ford, Jeep, Nissan, and Toyota, with Honda Ridgeline compatibility coming soon. The cover boasts robust construction, sleek design, and user-friendly functionality, with features like weather resistance, easy installation, and a limited 3-year warranty. Worksport plans to announce retail and distribution channels soon, reflecting the brand's commitment to quality and innovation.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces the first mass production of solar panels for its SOLIS Solar Cover, with an initial order placed and production expected to start between January and February 2024. The solar panels are designed for Ford, RAM (Stellantis), and General Motors light pickup trucks, offering an eco-friendly and innovative solution for vehicle power needs. The company's CEO, Steven Rossi, emphasizes the importance of this advancement in line with the global emphasis on renewable energy sources and sustainable practices in the automotive sector.
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Worksport Ltd. announces the purchase of necessary inventory parts for the Alpha Release of its COR Portable Energy Storage System, showcasing confidence in forthcoming test results and commitment to swift market introduction. The move is expected to expedite the manufacturing process and ensure availability of SOLIS Solar Cover and COR Battery System to consumers without delays.
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Worksport Ltd. (WKSP) announces plans to expand soft folding tonneau cover production to a second overseas factory to meet anticipated demand in the USA and Canada. The company is also increasing production capacity for hard folding tonneau covers at its facility in Buffalo, New York. Worksport's CEO, Steven Rossi, emphasizes the company's commitment to innovation and quality, highlighting the development of the SOLIS Solar Cover and the COR Battery System. The expansion in China and the production boost in Buffalo reflect Worksport's global vision and operational excellence.
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Worksport Ltd. (WKSP) and its subsidiary, Terravis Energy, Inc., announce a breakthrough in early test results for Terravis’ Cold Climate, Air Source Residential Heat Pump, surpassing current commercial units by as much as 40%. The product is expected to redefine the boundaries of heating technology without the use of supplemental heating coils, thriving in the harshest North American winters. The company is moving to the commercial design stage after rigorous testing, aiming to create a comfortable and reliable temperature regardless of severe weather conditions.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces a strategic partnership with NeuronicWorks Inc. to manufacture and assemble the COR battery system for its Alpha release. The partnership aims to ensure high-quality standards and 'Made in North America' products. Worksport's CEO and CTO express excitement and commitment to quality and sustainability. NeuronicWorks CEO emphasizes the company's commitment to innovation in cleantech and green energy.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces that its subsidiary, Terravis Energy, Inc., has completed a working prototype of its Cold Climate, Air Source Residential Heat Pump, undergoing rigorous testing to optimize efficiency and performance. The company aims to set new standards in cold-weather performance, offering a zero-emission residential Heat Pump that can provide heat at temperatures as low as -31ºF (-35ºC). The innovative design is expected to enter a large international market, addressing the need for sustainable, climate-friendly appliances in new construction residences.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) completes its second assembly line for hard-folding covers, marking a significant advancement in sustainable automotive innovation. The company achieved a 2,399% year-over-year revenue growth in Q3 2023 vs 2022, leading to the completion of the second assembly line to meet the substantial $16 million annual sales agreement. CEO Steven Rossi expressed pride in the progress, emphasizing the commitment to growth and innovation, as well as dedication to meeting customer needs and sales objectives.
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Worksport Ltd. (WKSP; WKSPW) partners with a Canadian manufacturer to design, develop, and assemble the COR battery system in Canada. This strategic move aligns with the upcoming Alpha Release of the COR battery system and Worksport's commitment to renewable energy solutions. The company also plans to provide updates on the SOLIS solar cover development, reflecting its continued innovation in the renewable energy sector.
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FAQ
What is the current stock price of Worksport, Ltd. (WKSP)?
The current stock price of Worksport, Ltd. (WKSP) is $0.8346 as of December 20, 2024.
What is the market cap of Worksport, Ltd. (WKSP)?
The market cap of Worksport, Ltd. (WKSP) is approximately 26.4M.
What products does Worksport offer?
Worksport specializes in tonneau covers, solar integrations, and hydrogen-based green energy solutions for the automotive and sustainable energy industries.
What were Worksport's key highlights in Q1 2024?
Worksport reported a 1,506% revenue increase in North American sales for Q1 2024, signaling rapid growth and demand for its products.
What is Worksport's approach to sustainability?
Worksport focuses on eco-friendly solutions and clean energy integrations to meet the growing consumer demand for sustainable automotive products.
How does Worksport plan to expand its market reach?
Worksport has established strategic collaborations and distribution networks, including partnerships with prominent distributors and dealers, to enhance its market presence.
What sets Worksport apart from its competitors?
Worksport's innovative products, strong intellectual property portfolio, and commitment to sustainability position the company as a leader in the automotive and clean energy sectors.
Worksport, Ltd.
Nasdaq:WKSP
WKSP Rankings
WKSP Stock Data
26.35M
30.36M
8.24%
9.37%
2.98%
Auto Parts
Motor Vehicle Parts & Accessories
United States of America
WEST SENECA