Worksport adds to Private Label unit in the automotive sector

TORONTO — Worksport Ltd is issuing an update following up its announcement from March 16, 2021, that business from a renowned brand in the automotive sector has been officially secured for the Company’s Private Label unit. The Company is also pleased to report that it has a queue of additional customer orders pending, due to product demand. When Worksport realized profitability in 2019, prior to the COVID-19 pandemic, it was able to do so with just one customer. With the three private label customers the Company has gained, with two additional that are in the process of being secured, Worksport is on track to realizing profitability once again.

Worksport Meizhou Factory

Worksport is also reporting that the first shipment from its last signed Private Label brand has already been scheduled for delivery. Speaking to delivery capabilities, Worksport CEO Steven Rossi comments, “Strengthening our manufacturing footprint will ensure our processes can effectively manage the increased demand that has already begun, bringing opportunities previously out of reach, propelling us to new heights, all but guaranteeing the brightest future.”

Shipment Loaded & Ready

Regarding Worksport’s Private Label business, it is worth highlighting to investors that the Company makes non-competing products with respect to both type and cost for Private Label customers, meaning that Worksport provides bespoke products for each customer that do not directly compete with neither each other nor the Worksport brand. As always, the Company respects the boundaries of the Private Label agreements, never publicly disclosing customer identities for Company benefit.

Worksport Ltd. develops and manufactures modular tonneau covers and solar-powered systems for light-duty trucks such as the Sierra, Silverado, Canyon, RAM, Ford F-Series, et al. as well as consumer adventures & emergency/ disaster-recovery purposes, where portable energy is a necessity.