Worksport Announces Early Start of Production in New Western N.Y. Factory: A Week Ahead of Schedule
- Worksport accelerates production, showcasing operational efficiency
- Early kickoff reinforces investor confidence and promises rapid revenue growth
- Received $1.6 million purchase order for flagship tonneau covers
- None.
West Seneca, N.Y., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Pioneering automotive and energy product manufacturer Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport”) today announced the commencement of production in its new 220,000 square-foot West Seneca, NY, facility, a week ahead of its scheduled launch.
Steven Rossi, Worksport CEO, expressed his excitement, “It’s a proud moment for us. Not only are we beginning ahead of schedule, but our state-of-the-art
Worksport's acceleration to this stage represents a major milestone, underlining the Company's capabilities in advanced project management and operational efficiency.
Rossi continued, "Meeting the expected market demand for our innovative hard- and soft-folding light truck tonneau covers just became swifter. This early kickoff marks the first step towards our vision for the SOLIS solar cover, which will be made possible once our redesigned COR battery system enters the market."
Being ahead of schedule is a result of Worksport’s unmatched drive and reinforces investor confidence in its growth and revenue prospects. Notably, the Company already boasts approval of its hard-folding tonneau cover samples from a major U.S. automotive aftermarket accessories reseller, indicating a promising start and potentially rapid revenue growth.
Reflecting on this key achievement, Rossi shared, "Seeing the first batch of our advanced hard-folding tonneau covers coming off the production line in our U.S.-owned factory is a monumental sight. It embodies our relentless drive and foreshadows substantial revenue growth, further cementing our commitment to American quality and innovation."
With production now starting, Worksport is poised for revenue growth with the recently received
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW), 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 investors.worksport.com
Connect with Worksport:
Please follow the company’s social media accounts on Twitter, Facebook, LinkedIn, YouTube, and Instagram, as well as sign up for the company’s newsletters at 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.
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For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789 E: 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," “project,” 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: supply chain delays, acceptance of our 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 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. 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.
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