Worksport Ltd. was one of the Benzinga Global Small-Cap Conference sponsors on December 8-9, 2020. The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only.
The global Electrical Vehicle (EV) market plays a significant role in reducing greenhouse gas emissions, energy diversification, and an overall greener future. However, with EVs becoming more mainstream, new challenges emerge, especially in providing enough, easy, fast, and available charging options.
From Tesla Inc. (NASDAQ: TSLA), Lordstown Motors Corp. (NASDAQ: RIDE), Nikola (NASDAQ: NKLA), General Motors Co. (NASDAQ: GM), Nio Inc – ADR (NYSE: NIO), to Ford Motor Company (NYSE: F), among others, EV manufacturers and service companies continue to be in the spotlight for 2021. By 2022, the market is expected to have over 500 different options on different price ranges.
Worksport Ltd. (OTCQB: WKSP), a manufacturer of high-quality and functional tonneau covers focused on pick-up trucks, understands that more convenient charging methods are needed. That’s why the company developed The Terravis system, a mobile battery system with solar technology suitable for EVs and other purposes. This is what you need to know.
Charging The Future Whenever, Wherever You Want: The TerraVis™ Tonneau Cover System
Renewable energy is pivotal in today’s world, especially in the EV industry. Yet, the biggest concern is the lack of charging options proportional to the growing demand.
Worksport core has always been pick-up trucks; the company understands they are more than a utility vehicle for commuting. That is why taking into account the efficiency of this vehicle in several daily tasks; the company presented TerraVis System™.
Worksports TerraVis COR is a solar-powered advanced folding truck bed tonneau that allows power from the cover to be stored in a modular battery pack. It stores 1.5kWh of energy in up to four batteries that can be kept and transported in the truck’s bed, using the company’s TerraVis™ mounting system.
TerraVis™ is the first of its kind in the industry, and it focuses on increasing utility and decreasing the carbon footprint. It can be used for powering a job site, campsite or get you through an emergency. The company is bridging the gap between the everyday and what’s to come.
Worksport Corporate Highlights
- In 2019, WorksportTM grew 550% with only B2B sales channels. Recently the company raised well over $2 million from its Regulation A public offering. The offering can remain open until November 2021, but the company already achieved 50% of the target amount, with its first million reported earlier in January.
- The company is teaming with Hercules Electric Mobility Inc. to be a Tier One OEM supply partner for its forthcoming Alpha Electric Pickup, created in partnership with Nissan Motors (OTC: NSANF). Additionally, Atlis Motor Vehicles is also working on configuring the TerraVis solar charging system as an OE accessory for its upcoming Atlis XT electric pickup truck.
- Worksport was granted trademark protection for its line of mobility battery packs, TerraVis COR, by the U.S Patent and Trademark Office.
- Last week, the company announced that it broadened development for its advanced TerraVis COR mobile energy storage system that can be recharged via the sun or with conventional A/C power. The company is expanding its horizons to become an ideal solution for emergency and disaster efforts, among other uses. It can be a gamechanger for many needing an option of energy apart from the existing conventional solutions. The TerraVis COR system is expected to launch globally within 2021.
“The portable battery storage market is huge, and the trend is growing.”The TerraVis COR™ will bring innovative value to not just Truck owners, but the global consumer market, which is forecasted to grow to over $546 Billion by 2035,” said Steven Rossi, president and CEO of Worksport. “We will have cost advantages and aggressive pricing for our very innovative patented product. We look forward to telling investors and shareholders about this product, additional developments, and the launch of its TerraVis pre-order site as soon as possible.”
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