Breaking Cleantech
Automotive Stock News: Worksport Ltd. (NASDAQ: $WKSP) Announces Production of
AL4 Premium Tonneau Cover, Signaling Major Growth Potential; @WorksportLtd
Company Targets
Significant Revenue Surge in 2025 with High-Demand AL4 Cover Poised to
Revolutionize the $4 Billion Tonneau Cover Market
West
Seneca, New York - October 23, 2024 (Investorideas.com 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.
Paid News dissemination for Worksport Ltd.
Read this news, featuring WKSP in
full at https://www.investorideas.com/news/2024/10231WKSP-AL4-Premium-Tonneau-Cover-Production.asp
Worksport's AL4 Featuring Full Bed
Access.
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 $4
billion market, the Company aims to aggressively capture market share.
A sales forecast update is expected to be provided within Q4 2024 or early Q1
2025.
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 $1 million in monthly sales.
The Company believes it can increase sales to $1 million per week in
the near- to mid-term. With its 156,000 square foot, New York
State-supported factory, Worksport has the capacity
to produce over $150 million worth of products per year, before
expansion. If revenues surpass capacity, the Company will evaluate
expansion opportunities as it seeks to operate in multiple multi-billion-dollar
markets.
Upcoming Innovations: SOLIS, COR, and
Terravis Energy
Worksport continues to push the
boundaries of innovation:
Advantages of the AL4:
The AL4 cover will target the highest-volume
category of all hard tonneau covers in the $4 billion tonneau
cover market. Key advantages include:
- 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."
Stay Tuned for More
This exclusive interview exemplifies
Worksport's dedication to transparency and proactive shareholder engagement.
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:
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
Instagram
Facebook
YouTube
Investor social media
X (formerly
Twitter)
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 "forwardâ€looking statements." Forwardâ€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 forwardâ€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.
Worksport Ltd. (Nasdaq: WKSP) is a featured
renewable energy/automotive stock on Investorideas.com
More info on WKSP at
Investorideas.com Visit: https://www.investorideas.com/CO/WKSP/
Disclaimer/Disclosure: Disclosure: Worksport Ltd. (Nasdaq: WKSP) is a paid featured company on
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