Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 27

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 27
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 both business-to-business and direct-to-consumer sales. Selling above MAP (Minimum Advertised Price) and enforcing this
policy will allow business customers to sell without competing with us and, in return, support the growth of the distribution base. Our
innovative covers are designed to serve purposes that no other tonneau cover is currently capable of, some of which are specifically geared
towards improving margins for distributors. Further, the SOLIS cover’s inclusion of solar panels may be particularly attractive
to electric pickup truck original equipment manufacturers, paving the path towards an original equipment manufacturer relationship that
may be lucrative beyond standard tonneau cover partnerships.

Portable Power Station Competitors

The Portable Power Station market is global and highly
fragmented and includes many competitors from across the world including but not limited to EcoFlow, Alpha ESS Co., Ltd., Anker Technology,
Bluetti, Chilwee Group Co., Ltd, Duracell, GES Group Limited Company, Jackery Inc., Lion Energy, Milwaukee Tool, and Mitsubishi Corporation.
Some of these competitors offer a line of Portable Power Stations, each with different power capacities, sizes, and price points, while
others specialize in a few or even one Portable Power Station as to target a specific or niche submarket.

We intend to be competitive in this space by focusing
on one Portable Power Station while selling additional modular batteries to allow consumers not only to determine for themselves their
ideal stored energy capacity and price point but also to upgrade their COR system overtime based on their evolving needs.

Supply of Components

Production of our soft and hard cover product lines
requires components including but not limited to injection molded plastics, rubber hinges, rubber seals, foam corners, aluminum coils,
aluminum extrusions, and metal brackets. We believe that we can source materials needed for soft and hard tonneau cover production from
other suppliers without major delay should any preferred supplier no longer be suitable.

For our domestically assembled products, we have
developed an extensive network of suppliers based in a diverse range of countries, including but not limited to the USA, China, Romania,
Spain, Turkey, and Canada. We are further diversifying our supply chain of tonneau cover components by developing relationships with
suppliers based in countries, including but not limited to Malaysia, Hungary, Czech Republic, Estonia, Latvia, Slovakia, Bulgaria, Vietnam,
Thailand, Poland, Finland, Italy, and Lithuania. For our COR and SOLIS components, we are establishing relationships with suppliers based
in countries, including but