Worksport Ltd. begins shipping its AL4 tonneau cover, receiving positive feedback as production ramps up to meet demand.
Quiver AI Summary
Worksport Ltd. has announced the successful shipment of its AL4 flagship tonneau cover to select customers, receiving overwhelmingly positive feedback. The AL4 represents an evolution in their premium tonneau cover lineup, designed for durability and functionality using American aluminum. In response to growing demand in the North American pickup truck market, Worksport is ramping up production to target 1,200 units in the next month, with plans to double output shortly thereafter, while continuing to produce the existing AL3 model. Major distributors are expressing interest and praise for the AL4’s quality, aligning with Worksport's strategy to position the product as a flagship offering. The company anticipates further rollout to e-commerce customers and the launch of new clean-tech products, including the SOLIS solar tonneau cover and COR mobile power system, later in 2025. CEO Steven Rossi emphasized the importance of the AL4 in driving growth and brand recognition moving forward.
Potential Positives
- Worksport has successfully shipped its first units of the AL4 flagship tonneau cover to select customers, indicating a significant step in product rollout.
- Initial feedback from customers has been overwhelmingly positive, suggesting strong market acceptance of the AL4 product.
- The company is ramping up production to target 1,200 units in the next 30 days, which reflects confidence in the product's demand and market potential.
- Worksport is preparing for future product expansions, including new clean-tech innovations, thereby enhancing its growth strategy for 2025 and beyond.
Potential Negatives
- Potential reliance on favorable feedback from select customers without broader market validation could pose a risk to the product's acceptance.
- Forward-looking statements indicate inherent uncertainties and risks, including potential supply chain delays and competition, which may impact future performance.
FAQ
What is the AL4 tonneau cover from Worksport?
The AL4 tonneau cover is Worksport's latest premium truck bed cover, designed for durability, security, and functionality for the growing pickup truck market.
When did Worksport begin shipping the AL4 covers?
Worksport commenced the first shipments of the AL4 covers to select customers on February 4, 2025.
What feedback has Worksport received about the AL4 cover?
Initial feedback from customers and major distributors has been overwhelmingly positive, highlighting build quality and ease of use.
How many AL4 units does Worksport plan to produce?
Worksport aims to ramp up production to 1,200 units in the next 30 days, with plans to double that output shortly after.
What other products is Worksport launching in 2025?
Besides the AL4, Worksport will launch the SOLIS solar tonneau cover and the COR mobile power system later in 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKSP Insider Trading Activity
$WKSP insiders have traded $WKSP stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $WKSP stock by insiders over the last 6 months:
- STEVEN F. ROSSI (CEO and President) purchased 33,333 shares for an estimated $24,999
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WKSP Hedge Fund Activity
We have seen 9 institutional investors add shares of $WKSP stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 786,242 shares (+35.6%) to their portfolio in Q3 2024, for an estimated $335,725
- CITADEL ADVISORS LLC removed 99,352 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $42,423
- GEODE CAPITAL MANAGEMENT, LLC added 40,537 shares (+20.7%) to their portfolio in Q3 2024, for an estimated $17,309
- HRT FINANCIAL LP added 33,597 shares (+271.8%) to their portfolio in Q3 2024, for an estimated $14,345
- UBS GROUP AG removed 26,536 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $11,330
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 17,110 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $7,305
- TWO SIGMA SECURITIES, LLC added 15,686 shares (+inf%) to their portfolio in Q3 2024, for an estimated $6,697
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WEST SENECA, N.Y,, Feb. 04, 2025 (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 pleased to announce it has sent
first shipments
of its
AL4 flagship tonneau cover
to select customers. Initial feedback from these customers has been overwhelmingly positive, and the Company is now accelerating production ramp-up to meet anticipated demand.
AL4 Ramp-Up to Complement Existing AL3 Production
The AL4 Hardcover represents the next evolution in Worksport’s premium tonneau cover lineup, engineered for durability, security, and functionality. Designed with robust American aluminum and precision manufacturing, the AL4 Hardcover caters to the growing demand for high-quality truck bed covers in North America’s booming pickup truck market.
Worksport is preparing an
active production ramp
for the AL4 cover,
targeting 1,200 units
in the next 30 days. As the Company continues to refine its manufacturing processes, it
expects
to
double
that output shortly thereafter, while maintaining its existing AL3 production lines. This will be followed by continued production line expansion as sales grow. This strategic approach is projected to allow Worksport to meet the market interest for the AL4 and
strengthen
its vision for 2025 and beyond.
Positive Early Feedback From Key Distribution Partners
Major distributors have already expressed strong interest in the AL4 and shared glowing reviews of its build quality, ease of use, and feature set. This aligns with feedback from initial batches sent to B2B clients, reinforcing the Company’s belief that the AL4 will serve as a
flagship product line
in its expanding portfolio.
Product Outlook for 2025 and Beyond
In the weeks ahead, Worksport will continue to expand roll out of the AL4 and anticipates opening access to its e-commerce customers. Worksport’s expansion into flagship clean-tech products—including its
SOLIS solar tonneau cover and COR mobile power system
—remains on track for release later in 2025. Management expects the AL4’s success to dovetail seamlessly with these upcoming innovations, propelling the Company’s brand recognition and solidifying its position in the automotive accessories and clean-tech spaces.
“We are extremely excited that our initial AL4 covers have left the door, and are being well received by initial B2B customers,”
said
Steven Rossi
, Chief Executive Officer of Worksport Ltd.
“With production now projected to actively scale, we believe the AL4 will not only drive significant growth in 2025 and beyond but also establish Worksport as a top-tier provider of premium tonneau covers. We anticipate these developments will position us favorably ahead of our SOLIS and COR product launches later in 2025, making this a milestone year across multiple markets.”
Additionally,
Worksport’s subsidiary
, Terravis Energy,
recently announced
a breakthrough in AI-supported heat pump technology, with a full reveal expected in just eight (8) days. These cutting-edge product developments are expected to strengthen Worksport for growth in 2025 and beyond.
Figure 1. Worksport AL4 Cover- Featuring Full Bed Access
Learn more, here:
https://investors.worksport.com
.
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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, portable power systems, and clean heating & cooling solutions. 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 all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. 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 Cold-Climate Heat Pump (CCHP) 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) | |
YouTube | 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,” “scheduled,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “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 latest 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/27a6a976-4fa5-49d3-833b-b0d9f886ecc6
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
