On February 22, 2022, Worksport Ltd. (Nasdaq: WKSP) (the "Company" or "Worksport") and Hyundai America Technical Center, Inc. ("HATCI") executed a letter of understanding in which both parties agreed that Worksport would produce prototypes of the Worksport SOLIS and a modified version of the COR energy storage system based on the Hyundai Santa Cruz's bed geometry (the "Project").
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HATCI, a division of Hyundai Motor Company, has provided to Worksport 3D Data specifically for the Project. The two companies intend to explore the benefit of each other's products working in tandem in order to determine the viability of a future partnership.
Syed Akbari - Project / Program Manager of Vehicle Planning and Analytics for HATCI - commented, "Thank you for your support. We are very excited to collaborate with Worksport on a solar tonneau cover project."
Steven Rossi, Worksport's Chief Executive Officer, stated, "Our Company is looking forward to taking this step with Hyundai," and, "Worksport is confident that Hyundai will be pleased with the working SOLIS and COR systems upon completion."
A tentative timeline was also agreed upon for the Project whereby the working SOLIS and COR models for Hyundai's yet to be announced vehicle would be ready for presentation to Hyundai's head office by October of 2022.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the IP 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 Ltd. 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. For more information, please visit www.worksport.com, www.investworksport.com and www.goterravis.com.
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