Worksport™ Provides Update for TerraVis™ OEM Supply Agreement
09/15/2020 | 08:30am EDT
TORONTO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Worksport Ltd, (OTC:WKSP) (or the “Company), will require additional time to make a formal announcement of its first TerraVis’™ solar truck cover partnership with a U.S. based Electronic Vehicle manufacturer. This is the result of broadening discussions between both companies, beyond the initial supply partnership agreement announced earlier this month.
The TerraVis’™ Solar Truck Bed Power System, for its first OEM partner, will be uniquely configured so that TerraVis™ will provide the EV Truck, with a meaningful source of recharge power, from its integrated Solar Panels. The partnership between the two companies is expected to generate US$70 million in revenues for Worksport in the near-to-mid-term, according to Worksport CEO Steven Rossi.
Management from the companies are engaged in active discussions, expanding beyond just the initial supply partnership agreement. Discussions are now centered towards additional synergies that are leading towards further opportunities between the companies. Details are expected be made publicly available soon.
As well, Worksport has had business interest from organizations in Holland, Germany, Australia, Spain, multiple U.S. and Canadian companies as well as overwhelming interest from journalists and those within the investment community. TerraVis™, much more than a solar panel truck bed cover, is a fully integrated, scalable system pairing on-demand zero emissions solar power with an unmatched cargo bed usage experience meeting pickup truck owners’ needs as they expand and change.
“This is an extremely pivotal and exciting time for Worksport,” said Rossi. “We are proceeding with optimistic caution and believe this is history in the making. TerraVis is poised to off-grid the future EV-Truck off-road experience”
The Company will frequently update shareholders, supporters, and investors to maintain the highest level of disclosure and information dissemination as Worksport continues to grow and develop at a very rapid pace.
Any interested investors or shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram as well as sign up for the company’s newsletters on bothwww.worksport.com and www.goterravis.com, to stay up to date on all of the latest news.
About Worksport Ltd.
Worksport Ltd., an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information please visit www.worksport.com. Currently listed on the OTCQB Market under the trading symbol “WKSP.”
This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd’s ’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.