Worksport ltd. Announces Production of AL4 Premium Tonneau Cover, Signaling Major Growth Potential
Worksport announces the production of its AL4 Premium Tonneau Cover, targeting a December 15th, 2024 market release. The company has begun manufacturing production-ready samples and is finalizing custom production lines at its 156,000 square foot New York factory. The AL4 cover, with a MAP of $1,099, will initially be available for major truck brands including Chevrolet, GMC, Ford, and Ram. Building on recent success achieving $1 million in monthly sales with its AL3 line, Worksport aims to increase sales to $1 million per week. The factory has capacity to produce over $150 million worth of products annually. The AL4 features a flip-up design, ceramic finish, and quick-access latches, targeting the highest-volume category in the $4 billion tonneau cover market.
Worksport annuncia la produzione del suo AL4 Premium Tonneau Cover, prevista per il lancio sul mercato il 15 dicembre 2024. L'azienda ha iniziato a realizzare campioni pronti per la produzione e sta finalizzando le linee di produzione personalizzate nella sua fabbrica di New York, che si estende su 156.000 piedi quadrati. La copertura AL4, con un prezzo MAP di $1.099, sarà inizialmente disponibile per i principali marchi di camion tra cui Chevrolet, GMC, Ford e Ram. Dopo il recente successo di raggiungere 1 milione di dollari di vendite mensili con la sua linea AL3, Worksport mira ad aumentare le vendite a 1 milione di dollari a settimana. La fabbrica ha una capacità produttiva di oltre $150 milioni di prodotti all'anno. L'AL4 presenta un design flip-up, una finitura ceramica e chiusure a accesso rapido, mirando alla categoria di maggior volume nel mercato delle coperture tonneau da 4 miliardi di dollari.
Worksport anuncia la producción de su AL4 Premium Tonneau Cover, con un lanzamiento al mercado programado para el 15 de diciembre de 2024. La compañía ha comenzado a fabricar muestras listas para producción y está finalizando líneas de producción personalizadas en su fábrica de Nueva York, que ocupa 156,000 pies cuadrados. La cubierta AL4, con un precio MAP de $1,099, estará inicialmente disponible para las principales marcas de camionetas, incluyendo Chevrolet, GMC, Ford y Ram. Tras el reciente éxito de alcanzar $1 millón en ventas mensuales con su línea AL3, Worksport tiene como objetivo aumentar las ventas a $1 millón por semana. La fábrica tiene capacidad para producir más de $150 millones en productos anualmente. El AL4 cuenta con un diseño que se levanta, un acabado cerámico y cerraduras de acceso rápido, orientándose hacia la categoría de mayor volumen en el mercado de cubiertas tonneau de $4 mil millones.
Worksport는 AL4 프리미엄 토노 커버의 생산을 발표하며, 2024년 12월 15일로 시장 출시를 목표로 하고 있습니다. 이 회사는 생산 준비가 완료된 샘플을 제조하기 시작했으며, 156,000 평방 피트 규모의 뉴욕 공장에서 맞춤형 생산 라인을 최종 조정하고 있습니다. AL4 커버는 MAP 가격이 $1,099이며, 처음에는 Chevrolet, GMC, Ford 및 Ram과 같은 주요 트럭 브랜드에서 사용할 수 있습니다. AL3 라인으로 월 100만 달러의 매출을 기록한 최근의 성공에 이어, Worksport는 주간 매출을 100만 달러로 증가시키는 것을 목표로 하고 있습니다. 이 공장은 연간 1억 5천만 달러 이상의 제품을 생산할 수 있는 능력을 갖추고 있습니다. AL4는 플립업 디자인, 세라믹 마감 및 빠른 액세스 잠금을 갖추고 있으며, 40억 달러 규모의 토노 커버 시장에서 가장 높은 볼륨 카테고리를 목표로 하고 있습니다.
Worksport annonce la production de sa AL4 Premium Tonneau Cover, prévue pour une sortie sur le marché le 15 décembre 2024. L'entreprise a commencé à fabriquer des échantillons prêts pour la production et finalise des lignes de production sur mesure dans son usine de New York, qui s'étend sur 156 000 pieds carrés. La couverture AL4, avec un prix MAP de 1 099 $, sera d'abord disponible pour les grandes marques de camion, notamment Chevrolet, GMC, Ford et Ram. S'appuyant sur son récent succès avec un chiffre d'affaires mensuel d'un million de dollars grâce à sa ligne AL3, Worksport vise à augmenter ses ventes à un million de dollars par semaine. L'usine a une capacité de production de plus de 150 millions de dollars de produits par an. L'AL4 présente un design rabattable, une finition en céramique et des verrous à accès rapide, visant la catégorie de volume le plus élevé sur le marché des couvertures tonneau de 4 milliards de dollars.
Worksport kündigt die Produktion seines AL4 Premium Tonneau Covers an, mit einem geplanten Markteintritt am 15. Dezember 2024. Das Unternehmen hat begonnen, produktionsfähige Muster herzustellen und finalisiert maßgeschneiderte Produktionslinien in seiner 156.000 Quadratfuß großen Fabrik in New York. Die AL4-Abdeckung, mit einem MAP von 1.099 $, wird zunächst für die großen Truck-Marken wie Chevrolet, GMC, Ford und Ram erhältlich sein. Nach dem jüngsten Erfolg, monatlich 1 Million Dollar mit seiner AL3-Linie zu erzielen, strebt Worksport an, den Umsatz auf 1 Million Dollar pro Woche zu steigern. Die Fabrik hat die Kapazität, jährlich Produkte im Wert von über 150 Millionen Dollar zu produzieren. Das AL4 verfügt über ein klappbares Design, eine keramische Oberfläche und schnell zugängliche Verschlüsse und zielt auf die volumenstärkste Kategorie im 4-Milliarden-Dollar-Markt für Tonneau-Abdeckungen ab.
- Factory capacity to produce over $150 million worth of products annually
- Recent achievement of $1 million in monthly sales
- Targeting growth to $1 million weekly sales
- Premium pricing strategy with MAP of $1,099 for AL4 cover
- Expansion into high-volume segment of $4 billion market
- Currently seeking to regain Nasdaq compliance
Insights
This product launch marks a strategic entry into the
The manufacturing facility's
The 156,000 square foot U.S.-based manufacturing facility represents a significant competitive advantage. The custom production lines being finalized for the AL4 suggest sophisticated automation and quality control systems. The 4x thicker aluminum construction and Diamond SHIELD Ceramic Finish indicate premium material selection and advanced manufacturing processes that could support higher margins while maintaining competitive pricing.
The domestic production capability addresses current supply chain concerns and enables faster market response. The facility's capacity utilization strategy, with room for expansion, demonstrates sound operational planning.
Company Targets Significant Revenue Surge in 2025 with High-Demand AL4 Cover Poised to Revolutionize the
West Seneca, New York, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors is thrilled to announce a targeted market release of its highly anticipated AL4 Premium Tonneau Cover on December 15th, 2024. The Company has already begun manufacturing production-ready samples for testing and customer evaluation. Engineering staff at the Company’s state-of-the-art factory are finalizing the custom production lines required to produce large volumes of the new AL4 tonneau cover. The Company believes this launch will boost sales channels, improve profit margins, and enhance brand penetration.
Strategic Impact on Revenue Growth
Worksport anticipates that the introduction of the AL4 cover will significantly impact revenue growth in 2025 and beyond. With the AL4 cover believed to be targeting the highest-volume category of all hard tonneau covers in the
Initial offering will cover major brands including Chevrolet, GMC, Ford, Ram, with the following truck applications:
- Chevrolet & GMC: Models for the GMC Canyon / Chevrolet Colorado / Chevrolet Silverado
- Ford: Ford Ranger and Ford Super Duty models.
- Ram: Ram 1500
In addition, Worksport’s R&D team is currently developing variations of the AL4 cover for additional truck models, such as those made by Toyota, Nissan, and Honda.
Accelerating Sales Growth with AL3 and AL4 Covers
Building on the success of its AL3 hard cover line, Worksport recently achieved
Upcoming Innovations: SOLIS, COR, and Terravis Energy
Worksport continues to push the boundaries of innovation:
- SOLIS Solar Cover and COR Portable Energy System: Currently in the Alpha release phase, these portable nano-grid systems are highly anticipated in the market and set to revolutionize off-grid power solutions.
- Terravis Energy's Heat Pump Technology: The Company's subsidiary, Terravis Energy, is developing a highly efficient heat pump technology. An update on this groundbreaking project is expected in the coming weeks.
Advantages of the AL4:
The AL4 cover will target the highest-volume category of all hard tonneau covers in the
- Aggressive Pricing: A manufacturing process that may allow for pricing below current market-leading covers.
- Distributor Interest: Ongoing discussions with key distribution partners have generated significant interest. Worksport's experienced sales team will continue to engage the 17,000 businesses in its database, offering quicker shipping times and enhanced service.
- Premium Positioning: With an anticipated Minimum Advertised Price (MAP) of
$1,099 , the AL4 cover will be Worksport's most premium offering ahead of market launch of its innovative SOLIS and COR systems.
AL4 Premium Tonneau Cover – Key Product Features
The AL4 is a low-profile, hard tonneau cover designed for full bed access on the go. Manufactured in the USA, it is strong, lightweight, and built to last. Key features include:
- Flip-Up Design: Provides
95% use of your truck bed without removing the cover. - Robust Construction: Up to 4x thicker aluminum.
- Diamond SHIELD Ceramic Finish: Scratch and UV-resistant coating.
- Quick Access: Cable-operated quick latches allow for lightning-fast cargo access.
- Made in the USA: Proudly manufactured domestically, ensuring high quality of products and support for local industries.
CEO Commentary
"The upcoming launch of our AL4 Premium Tonneau Cover marks a significant milestone for Worksport," said Steven Rossi, CEO of Worksport Ltd. "We are entering a high-demand segment of the market with a superior product that offers both quality and value. Combined with our aggressive brand expansion strategy and growing B2B interest, we anticipate this will drive substantial revenue growth in 2025 and beyond. Our manufacturing capabilities position us to meet this demand effectively, and we're excited to deliver on our commitment to innovation and excellence."
Figure 1: Worksport’s AL4 Featuring Full Bed Access.
Stay Tuned for More
Worksport remains committed to keeping investors informed and will continue to provide timely updates on significant developments throughout the coming quarter. See below for some of our major updates of 2024:
Key 2024 Press-Releases:
- October 17: Nasdaq Grants Extension To Regain Compliance
- October 17:
$2M M+ Projected Savings From New Strategic Initiative - October 3: Commencing U.S Government Sales
- September 30: Update On ISO Certification
- September 19: Alpha Launch of SOLIS & COR
- September 12: Record High August Sales
- September 11: Worksport COR as an EV Range Extender for Tesla Model 3
- August 14: Record High Revenues;
275% Q2 Growth - August 1: Impressive SOLIS Solar Cover Test Results
- May 8: Worksport Awarded
$2.8M M Grant
Read all Worksport press releases: [Link to All Press Releases].
Stay Connected
- Investor Newsletter: Investors and customers are invited to follow Worksport’s progress as it builds on this momentum and strives to redefine industry standards with each new corporate development. Link to Newsletter
- Contact Information
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128
W: investors.worksport.com E: investors@worksport.com W: worksport.com
About Worksport
Worksport Ltd. (Nasdaq: WKSP), 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 has 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.
Connect with Worksport
Please follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram (collectively, the “Accounts”), the links of which are links to external third party websites, as well as sign up for the Company’s newsletters at investors.worksport.com. The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company.
| Product social media | Investor social media |
| X (formerly Twitter) | |
| Facebook YouTube | LinkedIn Link to Newsletter |
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 social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.
The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For additional information, please contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@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. These 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.
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