Welcome to our dedicated page for Workhorse Group news (Ticker: WKHS), a resource for investors and traders seeking the latest updates and insights on Workhorse Group stock.
Overview
Workhorse Group Inc. (WKHS) is a technology-driven American original equipment manufacturer that designs and manufactures battery-electric commercial vehicles and integrated UAV systems. As a pioneer in the zero-emission transition for commercial fleets, Workhorse leverages automotive-grade, mass-produced components combined with custom-designed proprietary control software. This integrated approach underpins its robust electric powertrain architectures and advanced vehicle platforms aimed squarely at last-mile delivery and medium-duty fleet applications. Industry keywords such as last-mile delivery, zero-emission commercial vehicles, and battery-electric powertrains are embedded in its core strategy to deliver reliable, efficient, and sustainable transportation solutions.
Core Business Areas
Workhorse Group operates across multiple dimensions of commercial transportation design and manufacturing. Its operations include:
- Electric Drivetrain and Chassis Production: The company’s flagship electric powertrain platforms are produced in state-of-the-art facilities such as its 50,000 sq. ft. Loveland, Ohio site and an expansive 200,000 sq. ft. assembly plant. These facilities employ both proven mass production techniques and innovative engineering to build medium-duty truck chassis in Class 3 through 6. Notable chassis platforms like the W62, W88, and W56 serve as the foundation for its diverse product lineup.
- Integrated Telemetry and Control Software: Workhorse’s proprietary control software is designed to enhance real-time performance and efficiency. The cloud-based, real-time telematics systems provide comprehensive monitoring of energy usage, routing efficiency, and vehicle performance, granting fleet operators an effective means to optimize their operational costs.
- UAV and Multi-Modal Delivery Systems: Complementing its electric vehicle offerings, Workhorse has developed the innovative Horsefly™ UAV delivery system. This octocopter-based platform integrates seamlessly with its electric and hybrid delivery trucks, meeting FAA guidelines and providing a novel, efficient method to support last-mile delivery operations.
Manufacturing Excellence
Built on a foundation of American engineering, Workhorse designs and constructs its vehicles in-house. Utilizing automotive-grade parts tested over thousands of miles, the company’s manufacturing process emphasizes durability, reliability, and ease of maintenance. Its focus on streamlined assembly methods not only underpins consistent product quality but also simplifies service and support for fleet operators. The commitment to domestic manufacturing helps maintain high operational standards and positions Workhorse as a trusted domestic supplier for commercial electric vehicles.
Market Position and Differentiation
Within the competitive landscape of zero-emission commercial vehicles, Workhorse Group differentiates itself with its holistic approach to product development and fleet support. Its ability to seamlessly merge advanced battery-electric powertrain technology with integrated telematics and UAV delivery solutions sets the company apart. Workhorse is uniquely positioned to serve both the private and public sectors, including municipal fleets and large-scale commercial operators, by offering tailored vehicle platforms that meet rigorous safety certifications and operational benchmarks.
Key Operational Strengths
The company’s value proposition is reflected in several key operational strengths:
- Engineering and Design: With decades of cumulative industry expertise, Workhorse uses a rigorous engineering process to continuously enhance vehicle performance, durability, and efficiency.
- Advanced Supply Chain and Production Integration: Its use of standardized, automotive-grade components contributes to reduced complexity, ensuring high uptime for fleets and streamlined servicing due to interchangeable parts.
- Technological Innovation: The integration of cloud-based telematics systems within its vehicles allows operators to monitor real-time vehicle health, optimize energy usage, and reduce overall operating costs without compromising safety or performance.
- Scalability: With production facilities that support rigorous assembly processes and quality assurance, Workhorse is capable of meeting the increasing demand for sustainable transport solutions driven by the global move toward environmental stewardship.
Applications and Use Cases
Workhorse Group’s product portfolio is optimally engineered for various commercial applications. Its electric truck platforms have been tested for high-density urban delivery routes and are ideal for markets such as parcel delivery, vocational applications, municipal services, and other logistics-intensive industries. The integration of its Horsefly™ UAV system further diversifies its capabilities by enabling rapid, aerial delivery support which is coordinated with ground-based operations for enhanced efficiency. This dual-modal approach offers fleet operators a flexible and robust solution, addressing multiple needs with a single, integrated product ecosystem.
Industry-Specific Insights
The commercial electric vehicle sector is characterized by rapidly evolving regulatory standards, technological breakthroughs, and increasing environmental mandates across federal, state, and municipal levels. Workhorse Group operates at the intersection of these trends as it develops vehicles that not only meet stringent FMVSS and CMVSS safety requirements but also deliver performance metrics aligned with the demands of modern fleet operations. The use of proven automotive parts, combined with custom-designed control algorithms, enables its vehicles to sustain high performance under variable operating conditions. This is especially critical in last-mile delivery, where operational reliability and cost efficiency are paramount.
Commitment to Quality and Compliance
Compliance with rigorous safety and environmental standards is integral to Workhorse Group’s operations. The company has achieved several key certifications, validating its vehicles’ adherence to industry regulations and underscoring its commitment to quality. Integrated with a robust network of certified dealers and national service partners, its vehicles are backed by a comprehensive service and support infrastructure, ensuring that fleet operators can maintain high operational uptime and reduced maintenance complexity.
Summary
In summary, Workhorse Group Inc. stands as a technically competent, innovation-driven manufacturer of battery-electric commercial vehicles tailored for the dynamic landscape of last-mile delivery and medium-duty fleet operations. By marrying durable, automotive-grade design with advanced digital control systems and integrated multi-modal delivery solutions, Workhorse provides a versatile product portfolio designed to meet stringent safety standards, operational demands, and environmental goals. The company’s deep industrial expertise, commitment to quality manufacturing, and focus on operational efficiency equip it to serve a broad range of customers in both the private and public sectors, thereby playing a crucial role in the transition to a sustainable, zero-emission future.
Workhorse Group (WKHS) has successfully regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, following a notification of non-compliance received on October 2, 2024. The company, which focuses on zero-emission commercial vehicles, implemented a 1-for-12.5 reverse stock split on March 17, 2025, to increase its market price.
The compliance was achieved by maintaining a closing bid price of at least $1.00 per share for ten consecutive trading days, as confirmed by Nasdaq. This development ensures Workhorse's continued listing on the Nasdaq stock exchange under Listing Rule 5550(a)(2).
Workhorse Group (WKHS) reported full year 2024 financial results, showing net sales of $6.6 million, down from $13.1 million in 2023. The company posted a net loss of $101.8 million, improved from $123.9 million loss in 2023.
Key developments include Transport Canada's approval of W4 CC and W56 models, launch of W56 208-inch wheelbase truck with 20% increased cargo capacity, and securing orders including 13 W56 trucks from a national uniform provider. The company expanded its dealer network and reduced operating costs across operations.
Financial position shows total working capital of $8.2 million, including $4.6 million in cash. In February 2025, Workhorse issued a $35 million convertible note and implemented a 1-for-12.5 reverse stock split to regain Nasdaq compliance.
Workhorse Group (Nasdaq: WKHS) has announced the integration of Geotab's advanced telematics technology into its W56 step van. This integration enables fleet managers to access comprehensive vehicle data through the MyGeotab™ platform via a unified dashboard.
The plug-and-play solution aims to help fleets reduce costs, maximize uptime, and increase efficiency. The W56, designed as a zero-emission vehicle for last-mile delivery, combines substantial cargo capacity and range with Geotab's analytics capabilities.
The partnership leverages Geotab's extensive network of over 4 million connected vehicles globally, including significant medium-duty fleet presence in the U.S. The integration provides tools for tracking and optimizing vehicles, streamlining charging schedules, and optimizing battery usage for enhanced operational efficiency.
Workhorse Group Inc. (Nasdaq: WKHS) has announced the commencement of deliveries for its new 208-inch extended wheelbase W56 step vans. The order, secured in 2024, comprises 13 vehicles to be delivered to a national provider of uniforms and workplace supplies in 2025.
The delivery will be facilitated through partnerships with Revolv, a fleet electrification solutions provider, and Kingsburg Truck Center, a certified Workhorse dealer responsible for custom upfitting. The extended wheelbase W56 features 1,200 cubic feet of cargo space, up to 150 miles of range on a single charge, and approximately 10,000 pounds of payload capacity.
Workhorse Group (Nasdaq: WKHS), a technology company focused on zero-emission commercial vehicles, has scheduled its Fourth Quarter and Full Year 2024 earnings conference call for Monday, March 31, 2025, at 10:00 a.m. ET.
The company will release its financial results via press release before the call. The event will include a management presentation followed by a Q&A session. Investors can access the call through U.S. dial-in (877-407-8289) or International dial-in (201-689-8341).
A replay will be available until April 7, 2025, through toll-free (877-660-6853) and international (201-612-7415) numbers using Replay ID: 13752385. The call will also be broadcast live and available for replay through the company's Investor Relations website.
Workhorse Group (WKHS) has announced a 1-for-12.5 reverse stock split of its authorized and outstanding common shares, effective March 17, 2025. The move aims to boost the stock price to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, which must be maintained for at least 10 consecutive trading days before March 31, 2025.
The stock will continue trading under the symbol 'WKHS' on Nasdaq. Every 12.5 shares will automatically combine into one share, with fractional shares being rounded up to the nearest whole share. The split will not alter stockholders' percentage ownership except for minor adjustments from fractional share treatment.
Empire Stock Transfer Inc. will serve as the exchange agent, sending transaction statements to stockholders post-split. Shareholders holding shares through brokers will have their positions automatically adjusted.
Workhorse Group (Nasdaq: WKHS) announced that Kingsburg Truck Center has secured a contract from California's Department of General Services (DGS) to provide Workhorse electric trucks to state agencies. The contract enables streamlined procurement of W4 CC and W56 electric commercial vehicles, supporting compliance with Advanced Clean Fleet (ACF) requirements.
The W4 CC is a Class 4 cab chassis adaptable for various vocational needs, while the W56 Class 5/6 step van features a 10,000-pound payload and 210 kWh battery capacity. Despite CARB's withdrawal of federal waiver requests for ACF regulation enforcement, state and local government agencies must still transition to zero-emission vehicles.
The initiative aims to address the San Joaquin Valley's significant air quality challenges, where heavy truck traffic contributes substantially to pollution levels that fail to meet federal health standards for ozone and particulate pollution.
Workhorse Group (Nasdaq: WKHS) has received approval for the importation and sale of its W56 and W750 electric step vans in Canada through the Appendix G Pre-clearance Program. Transport Canada has validated the vehicles' compliance with Canadian Motor Vehicle Safety Standards (CMVSS).
The approval enables Canadian import dealers to distribute these zero-emission commercial vehicles nationwide. The company plans to begin on-road testing with a last-mile delivery fleet in Canada by Q2 2025. This expansion marks a significant milestone for Workhorse's distribution and service network in the Canadian market, where there is strong interest from fleets seeking to transition to zero-emission vehicles.
Workhorse Group (Nasdaq: WKHS) announced that NorthStar Courier, a FedEx Ground Contract Service Provider, will be the first customer to operate the new W56 208" extended wheelbase EV step van, complementing their existing W56 178" wheelbase truck. The vehicle, offering nearly 1,200 cubic feet of cargo capacity, will be delivered through Ziegler Truck Group.
NorthStar Courier's expansion follows successful operation of their initial W56 during the 2024 holiday season, where the vehicle covered nearly a thousand miles in sub-freezing temperatures. The purchase is supported by Minnesota state grants from the Minnesota Pollution Control Agency (MPCA), aimed at replacing older fossil fuel vehicles with electric models.
The all-electric W56, manufactured at the Workhorse Ranch in Union City, Indiana, is designed for last-mile delivery with pre-configured upfit options for parcel delivery. The vehicle will be featured at Work Truck Week® 2025 in Indianapolis, March 4-7.
Workhorse Group (WKHS) has secured its first Pacific Northwest sale with a municipal order for two W4 CC electric work trucks in Washington state. The vehicles, equipped with 16-foot Summit™ dry van bodies, will be used for trash and recycling can switch-outs, supporting the municipality's waste management services and environmental goals.
The sale was facilitated through The Truck Shop, a certified dealer in Washington and Oregon, and procured via Sourcewell, a cooperative purchasing organization. As a Sourcewell contract supplier since 2024, Workhorse enables public sector organizations to efficiently source medium-duty electric work trucks.
The W4 CC is a 100% electric Class 4 cab chassis designed for various upfit applications, featuring zero tailpipe emissions and versatile body configurations for municipal, vocational, and commercial fleet operations. The Sourcewell contract extends until July 9, 2028, with one-year renewal options.
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