Worksport, an innovative tonneau cover maker, has announced a significant long-term supply agreement with an established automotive aftermarket reseller in the U.S. This agreement is expected to bring in $16 million in annual sales for Worksport. The company’s hard-folding and soft-folding covers have received approval from the customer, leading to this substantial order.
Worksport is known for its pioneering COR remote battery system and is currently working on introducing the SOLIS solar-powered tonneau cover. The company aims to do much more than just extend the range of electric pickups, and this new supply agreement is a major step in achieving that goal.
In addition to this order, Worksport has already received a $1.6 million order for its hard-folding covers and a $720,000 order for the soft-folding versions from the same customer. The company plans to add three more assembly lines to its existing one and is looking to enhance its manufacturing capabilities with robotics and automation.
Last year, Worksport entered into an agreement with Hyundai America Technical Center to create customized prototypes of the SOLIS tonneau cover. Hyundai recognizes the value of Worksport’s technology and is incorporating it into the bed geometry of the Hyundai Santa Cruz 2024.
Meanwhile, Tesla continues to dominate the EV field with its quiet technological breakthrough. Tesla is close to reinventing EV making by using a series of innovations that allow for die casting nearly all the complex underbody of an EV in one piece, as opposed to the hundreds of parts used in conventional cars. This advancement will give Tesla a significant competitive advantage over other automakers.
The Big Three Detroit automakers, Ford, General Motors, and Stellantis, are currently facing a strike by the United Auto Workers. This strike could cost the companies over $5 billion in just 10 days and disrupt global supply chains. This challenging situation for the Detroit automakers further strengthens Tesla’s leadership position in the EV market.
– Worksport Signs Supply Agreement to Bring In $16 Million in Annual Sales: https://www.benzinga.com/pressreleases/23/09/n28299726/worksport-signs-supply-agreement-to-bring-in-16-million-in-annual-sales
– Tesla Close To Reinventing EV Making: https://www.benzinga.com/news/23/09/28297613/tesla-close-to-reinventing-ev-making-report
– Detroit Automakers Face Strike that Strengthens Tesla’s Competitive Advantage: https://www.benzinga.com/news/23/09/28297570/detroit-automakers-face-strike-that-strengthens-teslas-competitive-advantage