Posts Tagged: Workhorse

GM finalizes sale of Lordstown plant to Workhorse-affiliated EV builder

Well, what do you know! It appears the historic Lordstown deal is going to happen after all. Lordstown Motors (LMC) has formally announced its acquisition of the former GM manufacturing complex in Lordstown, Ohio. LMC, a spin-off of Workhorse Group (NASDAQ: WKHS), plans to begin production of an electric pickup at the Lordstown plant starting… Read more »

No, Workhorse hasn’t yet secured funding to buy GM’s Lordstown plant, but the deal is moving forward

For some time, Charged has followed the story of Workhorse Group, a Cincinnati-based company that has built a prototype electric pickup, has sold electric trucks to UPS and FedEx, and is in the running for a major contract to supply delivery trucks to the US Postal Service. Along with other observers of the EV scene,… Read more »

Is Workhorse’s deal to buy Lordstown plant from GM to build electric pickup too good to be true?

News travels by strange paths these days. The world first learned of a tentative deal for electric truck maker Workhorse to buy GM’s idled Lordstown, Ohio plant via a self-congratulatory tweet by the President of the US. If the deal goes through, it could be a win-win-win-win: Workhorse might receive a windfall like the one… Read more »

Electric truck maker Workhorse secures $35 million in new financing, works with Duke on battery leasing program

Workhorse Group (NASDAQ: WKHS), which manufactures electric delivery vans for UPS, FedEx and other fleet operators, has secured $35 million in new financing from Marathon Asset Management. Workhorse will use the proceeds to repay a July 2018 round of senior secured notes, and to acquire parts to fulfill customer orders. Marathon will provide the funds… Read more »

Workhorse starts production of light-weight electric delivery vehicle

Workhorse has begun initial production of a light-weight electric delivery vehicle, the Workhorse NGEN-1000. At 4,000 pounds and with up to 1,000 cubic feet of storage, the van’s weight is less than half that of conventional diesel step-vans with similar storage capacity. The vehicle will boast a 100-mile range, according to Workhorse, and come in four… Read more »

UPS buys 950 electric delivery vans from Workhorse

Fleet operators are beginning to make the transition from pilot EV programs to serious orders, and UPS is leading the way. Big Brown has just ordered 950 N-GEN electric delivery vans from Cincinnati-based Workhorse. In February, UPS announced plans to deploy a test fleet of 50 N-GEN trucks, so the latest purchase brings its N-GEN… Read more »

FedEx tests Workhorse/Plug Power fuel cell delivery van

Commercial EV manufacturer Workhorse (NASDAQ:WKHS) and hydrogen fuel cell specialist Plug Power (NASDAQ: PLUG) have collaborated to deliver a fuel cell electric delivery van to FedEx Express. The Class 5 EGEN delivery van was built by Workhorse, and features a Plug Power ProGen hydrogen fuel cell. It’s currently in service on a standard delivery route,… Read more »

Workhorse N-GEN electric delivery van coming to San Francisco

Commercial EV-maker Workhorse Group (NASDAQ: WKHS) is deploying a fleet of its electric N-GEN cargo vans in the San Francisco Bay area, in partnership with Ryder System, Workhorse’s exclusive maintenance provider. To commemorate the launch, Workhorse will display the N-GEN at City Hall in San Francisco on Wednesday, March 28. Designed from the ground up… Read more »

Workhorse reports 2017 earnings, receives $7-Million electric truck order

Workhorse Group (NASDAQ: WKHS) has received a $7-million repeat order for all-electric delivery trucks, to be deployed by “a major delivery company in the San Diego area.” Workhorse all-electric trucks are powered by Panasonic batteries, and deliver a 100-mile range. According to Workhorse, its e-trucks can improve fuel efficiency from an average of 5.5 MPG… Read more »

UPS: New Workhorse electric truck will be the first to rival cost of ICE vehicles

UPS plans to collaborate with Workhorse to develop an electric delivery truck that will be comparable in acquisition cost to legacy ICE trucks without any subsidies, an industry first. Each Class 5 truck will have a range of approximately 100 miles, quite sufficient for delivery routes in and around cities. UPS will test 50 of… Read more »