Worksport Ltd. ("Worksport" or the "Company") (NASDAQ: WKSP; WKSPW) is delighted to announce that certain of the Company's hard tonneau covers now qualify for an esteemed "Made in the USA" label.
This designation is a testament to Worksport's commitment to maintaining a supply chain that ensures its products are crafted and assembled in the United States, utilizing both domestic and imported components. According to recent consumer research, approximately 70% of survey respondents demonstrated a preference for American-made goods, with more than 83% willing to pay a premium of up to 20% for domestically manufactured items. This perception is largely driven by the belief that products having U.S. origin and assembly are of superior quality.
"We are thrilled to announce that Worksport can use a qualified 'Made in the USA' label for our upcoming line of innovative hard tonneau covers," stated Steven Rossi, CEO of Worksport. "This is an essential milestone for the Company, validating the high-quality products we manufacture and our commitment to domestic production."
The announcement comes after the Company's strategic acquisition of a manufacturing facility in upstate New York in May 2022 and the recent relocation of its headquarters to the same facility. The move will centralize Worksport's management, production, and quality control under one roof and is expected to lead to greater operational efficiencies and consistent product quality.
"Manufacturing in foreign countries poses many challenges for quality control and assurance procedures that are better managed with management present at our facility," Rossi commented. "As U.S. manufacturing begins, our focus will be to ensure both quantity and quality in the production of our products. It took a lot of effort, but we are pleased to announce this qualification, a significant step forward for the Company."
The achievement of such a "Made in the USA" qualification aligns with Worksport's mission to provide superior quality products while supporting local communities and economies. It further amplifies the Company's outlook and reinforces Worksport's commitment to its customers, shareholders, and the broader market.
