TSLA - Worksport an EV Player Like No Other?
Worksport (OTC: WKSP) is a designer and manufacturer of innovative yet affordable tonneau covers. Its mission is to disrupt the market by delivering innovative yet affordable solutions that will redefine the utility and enjoyment of pickup trucks, the #1 selling vehicle in the US.
Regulation A Public Offering
On January 28 th , Worksport revealed it has raised more than $2 million from its Regulation A public offering , meaning it received 50% of the target amount. Although the offering is set to last until November, Worksport has seen strong demand and support as it gathered its first million earlier this month, allowing it to fund its growth, R&D efforts, build inventory and develop its brand.
TerraVis
Last year, Worksport revealed the ground-breaking solar-powered accessory that is capable both to make conventional trucks greener and provide a meaningful charge for forthcoming electric pickups. TerraVis is a highly advanced fusion of solar engineering, technology, and design that is protected as its intellectual property.
It is the world’s very first solar-powered advanced folding truck bed tonneau cover that provides pickups with solar power and storage.
TerraVis COR
However, Worksport is not limited to EVs alone thanks to its TerraVis COR mobile battery which was granted trademark protection by U.S. Patent and Trademark Office earlier in January. This line is a consumer-oriented extension that goes beyond the pickup truck market. TerraVis Cor energy system can be purchased and used independently from the solar tonneau cover, appealing to consumers that need a portable unit to power workplaces and campsites. It is a perfect complement for an IoT centric lifestyle and connected world. It is also the world’s first modular, scalable, mobile power generator and inverter system that provides off-grid powder with replaceable batteries.
Equipping the upcoming electric pickups
Worksport is Tier One OEM supply partner of Hercules Electric Mobility Inc. for their upcoming Alpha electric pickup and TerraVis is also to be configured as the OE accessory of the upcoming tech-advanced Atlis XT electric pickup truck. Atlis Motor Company claims its pickup will be the most capable pickup there is whereas Hercules advertises its candidate as ‘rugged luxury’ with beyond attractive exterior that resembles Nissan (OTC: NSANY) Titan. By the looks of it, the two models will give Tesla’s (NASDAQ: TSLA) Cybertruck a run for its money and they will both be using Worksport’s technology to do it.
2021
Worksport seems to be living up to its promise. It entered 2021 with a big bang and it is now entering the era it has been working toward for so long. To ensure future growth, management is considering acquisitions and partnerships. With 15 million pickup trucks sold each year and their electric versions set to take stage this year, Worksport is poised to be among leaders in the EV market.
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