Streetbeat News

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.

Open

0.02

Mkt cap

575K

Volume

98K

High

0.03

P/E Ratio

-0.05

52-wk high

0.03

Low

0.02

Div yield

N/A

52-wk low

0.02

The EV industry is seeing intense competition with Tesla facing rivals on multiple fronts. Ford, BYD, Nio, and XPeng have all responded to Tesla's price war. Worksport, an automotive parts manufacturer, is set to deliver the world's first solar-powered tonneau cover and portable battery system. BYD posted record sales results and acquired the electronics manufacturing business in China owned by Jabil Inc. XPeng has agreed to buy a smart EV development business from DiDi Global and is developing two EVs with Volkswagen. Nio, despite a wider-than-expected Q2 loss, is revamping its products and launching a phone.

Portfolio Pulse from Upwallstreet

August 30, 2023 | 3:38 pm

Fisker Inc. has revealed more details about its electric pickup, scheduled for launch in 2025, which will use Tesla's charging technology. Worksport Ltd has achieved a milestone with the first shipment of hard-folding tonneau covers from its U.S. facility. A customized version of Worksport’s solar-powered products will be part of Hyundai's Santa Cruz 2024 pickup. Tesla is expected to start deliveries of its Cybertruck this year, which could have a significant impact on its business figures.

Portfolio Pulse from Upwallstreet

August 22, 2023 | 3:34 pm

The competition in the electric pickup market is heating up with Tesla's Cybertruck and Ford's F-150 leading the race. Worksport Ltd is planning to enhance its production capabilities with advanced automation and robotics to deliver its SOLIS solar truck tonneau covers by the end of the year. The company has committed to invest $1.5 million over the next 18 months in automation tools. Rivian Automotive's second quarter deliveries nearly tripled, with its shares rising more than 41% this month.

Portfolio Pulse from Upwallstreet

July 24, 2023 | 5:50 pm

Panasonic and Tesla are increasing battery factory production, while Tesla's Cybertruck is set to be delivered by Q3 2021. Worksport improved its COR portable energy system, Volkswagen announced the all-electric ID.Buzz, and Stellantis is investing €160 million in EV production.

Portfolio Pulse from Upwallstreet

June 07, 2023 | 7:55 pm

Worksport Ltd (NASDAQ:WKSP) has launched the SC4 PRO soft-folding tonneau cover, expanding its product line and revenue opportunities. The SC4 PRO will be available through multiple distribution channels, including Amazon, Walmart, and the Company's E-commerce platform.

Portfolio Pulse from Anusuya Lahiri

June 01, 2023 | 12:01 pm

Ford Motor (NYSE:F) unveiled plans for its second generation of EVs, including a new SUV and pickup models, aiming to compete with Tesla (NASDAQ:TSLA). Worksport Ltd (NASDAQ:WKSP)(NASDAQ:WKSPW) announced approval of its hard-folding light truck cover samples by a large U.S. customer, with plans to distribute the product across the country.

Portfolio Pulse from Upwallstreet

May 24, 2023 | 1:23 pm

Ford unveiled its strategy to ramp up EV production and catch up to Tesla, while Worksport moves closer to production of its solar-powered technology for electric pickups. Tesla's Cybertruck is set to begin deliveries later this year.

Portfolio Pulse from Upwallstreet

May 23, 2023 | 3:18 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.