West Seneca, N.Y., July 24, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces plans to further enhance its manufacturing prowess. In a bold move to boost production speed, margin, quality, and revenue, the Company has announced its intentions to invest $1,500,000 over the next 18 months with a strong potential for additional investment in a range of automation tools, notably in the realm of robotics. As part of its mission to achieve the zenith of production efficiency.
Positioned at the heart of the Company's expansive 220,000 sq. ft. manufacturing facility in West Seneca, N.Y., these groundbreaking investments, as emphasized by Worksport CEO Steven Rossi, will “significantly heighten our capacity and ensure we are adeptly primed to cater to surging demand.”
As previously reported, Worksport's continuing expansion efforts contemplate the development of five total assembly lines—one having been completed already. Among the standout features of the planned factory upgrade is the introduction of multiple robotic arms at the production line to increase speed and efficiency – a move set to markedly uplift the company's production capabilities. Worksport's confidence in these robotic interventions underpins its strategy to commence mass production. The Company is of the opinion that this automation is vital for attracting OEM clients in the future.
Notably, several OEMs have engaged in collaborations with Worksport, leveraging the Company's innovative prowess to tailor-make tonneau covers for an array of light truck models. Taking innovation up a notch, Worksport anticipates unveiling its SOLIS solar truck bed covers later in the year, a pioneering initiative tethered to the advancements of its proprietary COR battery system.
Commenting on this monumental phase in the Company's trajectory, Rossi expressed, “Our transformation into a full-fledged manufacturing entity has surpassed even our most optimistic forecasts. The rate of evolution has been nothing short of exhilarating. With our maiden assembly line expected to start production in the next few weeks, we stand at the threshold of an era where we can deliver state-of-the-art light truck covers to tap into a growing market. This marks a pivotal milestone, heralding the dawn of revenue influx.”
In closing, Worksport urges investors to stay connected and witness this exhilarating chapter in the Company's U.S. production and revenue ascendancy.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the IP 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 Ltd. 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. For more information, please visit investors.worksport.com
Connect with Worksport:
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For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789 E: investors@worksport.com W: www.worksport.com
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