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WKSPW

Worksport Ltd.

https://www.worksport.com

Industry

Auto - Parts

Worksport Ltd., through its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold, aluminum flush-mounted, and top-mounted folding tonneau covers. It also offers Worksport SOLIS, a tonneau cover with integrated solar panels; and Worksport COR energy storage system, a modular, portable power station. The company also sells its products through online retail channels. The company was formerly known as Franchise Holdings International, Inc. and changed its name to Worksport Ltd. in May 2020. Worksport Ltd. is based in West Seneca, New York.

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Tesla Inc (TSLA) experienced a significant drop in market valuation at the start of 2024, with challenges in making the Cybertruck profitable before 2025. Ford Motor (F) also saw a reduction in its electric F-150 production due to slowing EV demand. Worksport Ltd. (WKSP, WKSPW) is advancing with its clean energy solutions, purchasing inventory parts for the Alpha Release of its COR portable energy system and providing prototypes to Hyundai. The future of electric pickups is tied to battery technology and charging infrastructure innovation.

Portfolio Pulse from Upwallstreet

January 26, 2024 | 5:09 pm

Tesla Inc (TSLA) delivered the first units of its Cybertruck, while facing production challenges. Ford Motor (F) set a new EV sales record with its electric pickup, the Lightning, and Worksport (WKSP, WKSPW) expanded its factory production, adding an assembly line for its solar-powered tonneau cover and portable battery system. Rivian Automotive (RIVN) was outpaced by Ford in November EV sales, despite being the first to market with its R1T electric pickup. The electric pickup market is becoming increasingly competitive with new models and technological advancements.

Portfolio Pulse from Upwallstreet

December 07, 2023 | 6:17 pm

Toyota Motor Corporation (TM) has raised its full-year fiscal outlook due to strong hybrid demand, despite a slowdown in EV demand in the U.S. Worksport Ltd (WKSP, WKSPW) is preparing for the alpha release of its COR portable battery system. Toyota's Q2 revenue grew 24% YoY to $75.7 billion, with operating profit expanding over 155% YoY to $9.5 billion. Toyota has also raised its annual profit guidance from 3 trillion yen to 4.5 trillion yen ($29.8 billion). Meanwhile, Ford (F), General Motors (GM), and Stellantis (STLA) have suffered from a UAW strike, with Tesla (TSLA) potentially benefiting from a slower EV rollout from these automakers.

Portfolio Pulse from Upwallstreet

November 02, 2023 | 5:14 pm

Heat pumps are seen as a key tool in combating climate change, with Terravis Energy, a subsidiary of Worksport Ltd (NASDAQ:WKSP)(NASDAQ:WKSPW), and Panasonic Holdings Corporation (OTC:PCRFY) developing new products. Terravis has increased its R&D commitment to its cold climate heat pump due to expected large-scale growth in North America and globally. Panasonic has unveiled a new central heat pump system that promises up to 300% greater efficiency and potentially 30% energy savings. Other companies, including Samsung and Bosch, are also investing in heat pump technology.

Portfolio Pulse from Upwallstreet

October 24, 2023 | 6:07 pm

Worksport Ltd (NASDAQ:WKSP)(NASDAQ:WKSPW) has signed a significant long-term supply agreement with a US automotive aftermarket reseller, which is expected to bring in $16 million in annual sales of its hard-folding and soft-folding covers. The company is also working on introducing the SOLIS solar-powered tonneau cover, integrated with its COR remote battery system. Meanwhile, Tesla Inc (NASDAQ:TSLA) is reportedly close to a technological breakthrough in EV making, while Ford Motor (NYSE:F), General Motors (NYSE:GM) and Stellantis N.V. (NYSE:STLA) are struggling with a strike by the United Auto Workers.

Portfolio Pulse from Upwallstreet

September 19, 2023 | 3:58 pm

Worksport has signed a long-term agreement with a leading automotive aftermarket reseller for its US factory product. The company expects $16M in annual sales from this deal and anticipates significant growth and demand at its NY factory.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 11:00 am

Tesla Inc. received nearly $15 million in funding from the EU for the expansion of its supercharger network. Worksport Ltd announced significant progress in the development of its portable battery system COR and solar-powered SOLIS tonneau cover, designed to extend the driving range of electric pickups. Toyota Motor confirmed it will build an electric pickup and plans to launch at least 15 EVs by 2025.

Portfolio Pulse from Upwallstreet

September 14, 2023 | 3:32 pm

At the Munich Auto Show, Tesla and BYD showcased their EV models, with BYD dethroning Volkswagen as the best-selling EV brand in China. Worksport Ltd announced a partnership with a top-tier solar panel provider to develop its SOLIS solar-powered tonneau cover. Tesla debuted a revamped Model 3 and lowered prices for Model S and Model X in China and the U.S. BYD presented six models at the IAA Mobility Show and announced plans to expand into the European market.

Portfolio Pulse from Upwallstreet

September 07, 2023 | 3:17 pm

Worksport (NASDAQ:WKSP, WKSPW) has announced a partnership with a top-tier solar panel provider for its SOLIS Solar Tonneau Cover. The partnership aims to set a new standard in renewable energy tech for vehicles and provide high-quality flexible solar panels.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 12:03 pm

Worksport Ltd. has revealed its sales strategy, which includes the world’s first solar-powered tonneau cover SOLIS and the portable battery system COR. The company has secured a $1.6 million order and announced four sales partners. Its products will be available on Amazon, Walmart, and eBay. A customized version of its products will be part of Hyundai's Santa Cruz 2024 pickup. Mercedes Benz Group AG has announced that its first high-power charging station will be operational this fall. The company plans to expand its global charging network to more than 2,000 points by the end of 2024.

Portfolio Pulse from Upwallstreet

August 31, 2023 | 4:07 pm

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