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. (WKSP) announces the development of a SOLIS solar cover for the Ford F-150 Lightning, aiming to integrate it with the vehicle's charging system for off-grid use. Preliminary estimates suggest up to 10 miles range increase. Worksport also plans to offer a SOLIS and COR battery bundle for clean energy utilization, with the COR Battery undergoing testing for an Alpha Launch.
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Worksport Ltd. (Nasdaq: WKSP) completes production of 1,100 AL3PRO Hard Folding Tonneau Covers at its NY facility. The covers are made of 90%+ domestically sourced materials and are suitable for various truck models. Worksport plans to sell them on major platforms like Walmart and Amazon. The Company is also working on SOLIS Solar Cover and COR Battery System.
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Infineon Technologies AG announces collaboration with Worksport Ltd. to use GaN power semiconductors in portable power stations, reducing weight, size, and system costs. Worksport's COR battery system to be integrated into pickup trucks and recharged by solar panels or wall outlets. GaN technology expected to reduce CO2 emissions in manufacturing process.
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Worksport Ltd. (Nasdaq:WKSP) reports a 2,050% YOY revenue increase in Q4 FY2023, reaching US$839,690. The company also experienced an 83% increase in North American revenues from Q3 to Q4 2023. Worksport anticipates continued revenue growth into 2024, with a focus on expanding production lines and launching new products, such as the COR battery system and the SOLIS solar cover. Terravis Energy, a Worksport subsidiary, achieved a significant breakthrough in the development of a Cold Climate, Air Source Residential Heat Pump, surpassing current leading Heat Pump systems by as much as 40%. The company is poised for further growth and expansion, with a strong focus on sustainability and innovation.
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Worksport Ltd. and its subsidiary, Terravis Energy, Inc., are considering partners in a supply chain for the Cold Climate, Air Source Residential Heat Pump (CCHP). Terravis CEO Lorenzo H. Rossi recently attended the 2024 AHR Expo in Chicago to meet potential suppliers. The Terravis Heat Pump is expected to redefine heating technology without the use of supplemental heat coils, with the potential to reduce carbon emissions worldwide. Worksport CEO Steven Rossi emphasized the company's commitment to a zero-emission future. Worksport and Terravis will provide updates on the product's development and testing process.
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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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FAQ
What is the current stock price of Worksport, Ltd. (WKSP)?
The current stock price of Worksport, Ltd. (WKSP) is $0.9414 as of January 23, 2025.
What is the market cap of Worksport, Ltd. (WKSP)?
The market cap of Worksport, Ltd. (WKSP) is approximately 31.2M.
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
31.19M
30.36M
8.24%
9.37%
2.98%
Auto Parts
Motor Vehicle Parts & Accessories
United States of America
WEST SENECA