Worksport Completes Production of First 1,100 AL3PRO Hard folding Covers compatible with Ford, General Motors, Stellantis, Nissan, and Toyota Trucks
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Insights
The announcement by Worksport Ltd. regarding the completion of its first batch of AL3PRO Hard Folding Tonneau Covers is a significant development within the automotive accessories market. The fact that the product is compatible with a wide range of popular truck models from major manufacturers such as Ford, General Motors, Stellantis, Nissan and Toyota indicates a strategic move to capture a broad customer base. Given the increasing demand for customization and high-quality truck accessories, the market potential for such a product is substantial.
Worksport's commitment to using predominantly domestically sourced materials and manufacturing within the United States could resonate positively with consumers who are increasingly conscious of supporting local industries. This approach may also provide Worksport with a competitive edge in terms of supply chain resilience, particularly in an era where global logistics can be unpredictable.
The decision to distribute the AL3PRO cover through major sales platforms like Walmart, Amazon and eBay, alongside expanding its B2B dealer network, reflects a multi-channel sales strategy that could enhance market penetration and revenue streams. The emphasis on e-commerce aligns with current retail trends and consumer purchasing behaviors.
Worksport Ltd.'s announcement of the AL3PRO Hard Folding Tonneau Covers' production completion is likely to be viewed positively by investors due to the immediate availability of the product for sale and the potential revenue generation from this new line. The company's strategic move to expand its product compatibility to include the Honda Ridgeline—a popular model in North America—suggests an anticipation of increased market share and customer reach.
Furthermore, the ongoing development of the SOLIS Solar Cover and the COR Battery System positions Worksport at the intersection of the automotive and clean energy sectors. If successful, these products could provide Worksport with a first-mover advantage in a niche but rapidly growing market segment focused on sustainability and innovation. The positive initial quality testing results for the COR battery could be indicative of future product reliability, which is crucial for consumer trust and brand reputation.
Worksport's dedication to clean energy solutions through its SOLIS Solar Cover and COR Battery System reflects a strategic alignment with global sustainability trends. As the automotive industry faces increased pressure to reduce its carbon footprint, Worksport's initiative to provide off-grid energy solutions for truck accessories positions the company as a forward-thinking player in the market. The integration of solar technology into vehicle accessories is a burgeoning field that not only appeals to environmentally conscious consumers but also enhances the functionality of the products by offering an alternative energy source for various applications.
This approach to product development could potentially open up new revenue streams for Worksport and differentiate its offerings in a competitive market. As the industry continues to evolve towards greener solutions, Worksport's emphasis on sustainable innovation could bolster its reputation and appeal to a segment of the market that prioritizes environmental responsibility.
West Seneca, New York, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP) (“Worksport” or the “Company”) is announcing that it has completed production of the first 1,100 AL3PRO Hard Folding Tonneau Covers at its West Seneca, NY manufacturing facility. The covers are expected to be sold and shipped to new customers in the U.S. The covers produced and currently in stock are suitable for a wide range of trucks, including RAM Trucks by Stellantis, General Motors brands GMC and Chevrolet, Ford, Jeep by Stellantis, Nissan, and Toyota.
The AL3PRO hard folding tonneau cover is a sleek all-new all-aluminum hard folding tonneau cover produced in Worksport’s upstate New York factory. It is proudly "Made in the USA” using
On this momentous occasion, Steven Rossi, CEO of Worksport, stated, “Our latest tonneau cover has come to fruition, and the product has exceeded our initial expectations. The AL3PRO cover is the culmination of years of research, hard work, and dedication as we strive to deliver nothing but the best to our customers. The cover’s compatibility list is long, including many major models - such as the Ford F-Series, General Motors’ GMC and Chevrolet models. We also have applications for Nissan and Toyota, as well as RAM and Jeep by Stellantis. Also, I am delighted to report that the AL3PRO cover is now available on Worksport's e-commerce site.”
The Company also intends to sell the AL3PRO cover on major sales platforms such as Walmart, Amazon, and eBay, as a part of Worksport’s efforts to extend its B2B dealer network and availability across North America.
Worksport’s plans to expand the number of truck models with which the newest tonneau covers will be compatible are in the works. In addition to Ford, Jeep and RAM by Stellantis, GMC and Chevrolet by General Motors, Toyota, and Nissan, consumers can soon expect the AL3PRO cover to be compatible with the widely popular Honda Ridgeline. More information will be provided as timely as possible.
Meanwhile, Worksport is diligently working on the SOLIS Solar Cover and the COR Battery System, a powerful duo that utilizes clean energy to provide a mobile microgrid. Initial quality testing for the COR battery has shown positive results and our development and QA teams are pleased with the progress. The Company looks forward to providing investors with more updates on these products soon.
Worksport’s dedication to developing innovative truck accessories powered by off-grid energy solutions underlines its belief that clean energy is the future of the industry. Stay tuned to get more information about the product’s availability on the expanded B2B network. Worksport expects to announce when the AL3PRO hard folding tonneau cover becomes available on major sale platforms.
For further information, please visit Worksport’s official website for investors at investors.worksport.com.
About Worksport
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property 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 currently maintains an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with RAM, Chevrolet, and GMC models from General Motors, as well as Ford, Jeep, Nissan, and Toyota pickup trucks. Worksport 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. Terravis Energy’s website is terravisenergy.com. For more information, please visit investors.worksport.com.
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Worksport strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.
Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (“SEC”) filings, and public conference calls and webcasts. The Company also uses the Accounts to announce Company news and other information. The information shared on the Accounts could be deemed to be material information. As a result, the Company encourages investors, the media, and others to review the information the Company publishes on the Accounts.
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,” “should," 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: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) 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 SEC, including, without limitation, 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.
FAQ
How many AL3PRO Hard Folding Tonneau Covers did Worksport produce?
What truck models are the AL3PRO Hard Folding Tonneau Covers suitable for?
Where are the AL3PRO Hard Folding Tonneau Covers manufactured?
What materials are used in making the AL3PRO Hard Folding Tonneau Covers?
On which major sales platforms will Worksport sell the AL3PRO covers?
What other products is Worksport working on besides the AL3PRO covers?
