Company Nears Completion of Product Engineering for Rivian R1T Accessories, Targeting Growing Market of Premium Electric Pickup Trucks
West Seneca, New York, Oct. 09, 2024 (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 thrilled to announce its strategic initiative to manufacture aftermarket accessories for the Rivian R1T electric pickup truck. With initial product engineering nearing completion, Worksport's existing tonneau cover lineup will be the Company’s first products compatible with the Rivian R1T, marking a significant milestone in the Company's expansion into the electric vehicle (“EV”) aftermarket sector.
Capitalizing on Rivian's Rapid Growth
Rivian Automotive, Inc., a prominent player in the EV market, is selling over 10,000 premium electric pickup trucks per quarter, with the Rivian R1T fleet approaching 100,000 units on the road. This rapid growth presents a substantial opportunity for Worksport to introduce its cutting-edge products to a new and expanding customer base of environmentally conscious and tech-savvy consumers.
Compatible Tonneau Covers for Rivian R1T
Worksport is proud to announce that its existing lineup of premium tonneau covers is nearly finished compatibility engineering with the Rivian R1T. These covers are designed to enhance the utility, security, and aesthetics of the R1T, aligning perfectly with Rivian owners' expectations for premium accessories. Features include:
Enhanced Protection: Secure cargo area against weather elements and theft.
Aerodynamic Design: Improve vehicle aerodynamics for better efficiency.
Easy Installation: Designed for seamless integration with the Rivian R1T.
Future Integration of SOLIS Solar Cover and COR Portable Energy System
Building on this foundation, Worksport will look to integrate its innovative SOLIS Solar Cover and COR Portable Energy System with the Rivian R1T platform. These products are designed to function as a perfect nano-grid system, complementing the adventurous and sustainable lifestyle of Rivian owners. Key features:
Versatile Applications: Ideal for having portable power on the go at job sites, campsites, emergency response, and off-grid usage.
Level 2 Charging Capabilities: Expected to have Level 2 charging capability with the SOLIS Solar Cover, acting as a last-mile range extender for quick power top-ups directly from the sun.
Energy Independence: Allowing drivers to harness solar energy for greater autonomy during extended journeys.
Management Commentary
Steven Rossi, Chief Executive Officer of Worksport, commented:
"We are excited to expand our product offerings to include accessories for the Rivian R1T, aligning with our mission to provide innovative and sustainable solutions for the evolving automotive market. Our SOLIS Solar Cover and COR Portable Energy System will be excellent companions for Rivian owners who value utility, versatility, and environmental responsibility. We believe this strategic initiative will not only drive growth for Worksport but also enhance the ownership experience for Rivian customers. Rivian owners deserve an exceptional bed cover and power system to go further and truly do anything."
For more on Worksport’s innovative product lines, visit www.worksport.com. Stay tuned for investor updates on new products, expanded model coverage, and ongoing business growth.
Investor Newsletter: Investors and customers are invited to follow Worksport’s progress as it builds on this momentum and strives to redefine industry standards with each new corporate development. Link to Newsletter
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property 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 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 RAM, Chevrolet, and GMC models from General Motors, as well as Ford, Jeep, Nissan, and Toyota pickup trucks. 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 NP (Non-Parasitic), Hydrogen-based technology. Terravis Energy’s website is terravisenergy.com. For more information, please visit investors.worksport.com.
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