Worksport Ltd (Formerly Franchise Holdings International Ltd), announces more details from its late-stage agreement. The agreement, presently in active negotiations, to supply the Worksport TerraVis tonneau cover system with solar power integration to a US-based electric truck manufacturer. Worksport expects the partnership to generate $70 million in revenues for Worksport in the near-to-mid-term, according to CEO Steven Rossi.
Details surrounding terms of the agreement, including a statement from the EV truck manufacturer, will be disclosed in mid-September.
Rossi says the relationship will significantly impact Worksport’s future growth and development. The expected $70 million revenue is just the beginning and is likely to expand over the long term, he adds.
WHAT’S AHEAD
The partnership enables Worksport with its TerraVis system to be the Tier 1 supplier for the manufacturer’s forthcoming electric truck. Worksport specifically configured the TerraVis system to provide the EV truck with a meaningful source of recharge.
The collaboration agreement closely followed the first public disclosure of details about TerraVis, the very first advanced folding truck bed tonneau cover system to be a fusion of cutting edge solar power, storage, and delivery. The platform takes advantage of a standard pickup’s practical capabilities, while also using more sustainable and renewable energy. Proprietary, high-efficiency solar panels built into the rugged tonneau cover will collect the sun’s energy in multiple battery banks.
“With the recent TerraVis reveal, Worksport enters the most exciting period since inception,” Rossi says. “We have been working around the clock to sort through the demand, field inquiries, and make sense of what is best for Worksport going forward. Clearly, this new relationship rose to the top of the list. At the same time, Worksport will continue to focus on growth as the lead innovator and manufacturer in the Global Automotive Market for tonneau covers for electric and conventional light trucks.”
Find out more, visit www.worksport.com and www.goterravis.com.
