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.
Workhorse Group Inc. (WKHS) delivers innovative electric commercial vehicles and drone-integrated logistics solutions for sustainable transportation. This news hub provides investors and industry professionals with essential updates on company developments, financial milestones, and technological advancements.
Access official press releases and curated news coverage spanning product launches, regulatory filings, partnership announcements, and operational updates. Our repository tracks key areas including vehicle production milestones, fleet deployments, technology patents, and corporate governance matters.
Discover timely information on earnings reports, SEC filings, and strategic initiatives that shape Workhorse's position in the zero-emission transportation sector. The collection serves as a decision-making resource for tracking manufacturing expansions, supply chain developments, and market expansion efforts.
Bookmark this page for structured access to Workhorse's evolving story in commercial EV innovation. Verify critical updates through primary sources linked within each entry, and revisit regularly to maintain current awareness of company progress.
Workhorse Group Inc. (WKHS) announced the successful closing of a $200 million financing agreement with Antara Capital GP LLC. The financing, set to provide Workhorse with $194.5 million in net proceeds, will help accelerate production and enhance product development in the last-mile delivery sector. The financing notes, convertible at $35.29 per share and maturing in four years, bear an interest rate of 4%, which could decrease to 2.75% under certain conditions. CEO Duane Hughes expressed optimism about the funding's potential to solidify the company's leadership.
Workhorse Group Inc. (Nasdaq: WKHS) announced that its C-1000 Extended Range delivery truck has received an Executive Order from the California Air Resources Board (CARB), classifying it as a zero-emission vehicle. This approval allows the company to sell the truck across the U.S., targeting more than a dozen states. The vehicle boasts an urban/highway blended driving range of 149 miles per charge, with urban driving reaching nearly 160 miles. This model will also generate 2.07 Zero Emission Vehicle (ZEV) credits, which can be sold to help meet CARB's emission standards.
On October 12, 2020, Workhorse Group Inc. (WKHS) announced a note purchase agreement to sell $200 million of 4.0% Senior Secured Convertible Notes due 2024. The net proceeds of approximately $194.5 million will support production scaling, new product advancements, and working capital. Additionally, an exchange agreement will see $70 million of existing convertible notes converted to equity, improving cash availability to over $270 million. The convertible notes have a premium conversion price of $36.14 per share, and the financing aims to expedite production efforts and new product timelines.
Workhorse Group Inc. (Nasdaq: WKHS) announced that its C-Series all-electric delivery trucks, specifically the C-1000 Extended Range model, have achieved an industry-leading range of approximately 160 miles per charge under urban conditions. This development positions Workhorse to expand its market reach within the last-mile delivery sector. The company also highlighted that its trucks are recognized as zero-emission vehicles by the California Air Resources Board, aligning with growing environmental standards.
Workhorse Group Inc. (WKHS), a leader in sustainable electric vehicles, announced its participation in several virtual financial conferences in September 2020. Key events include the LD Micro 500 on September 3, 9th Annual Gateway Conference on September 9, and the Cowen 13th Annual Global Transportation & Sustainable Mobility Conference on September 11, highlighting its commitment to innovation in the last-mile delivery sector. Investors can learn more by visiting workhorse.com.
Workhorse Group Inc. (NASDAQ: WKHS) has formed strategic agreements with Hitachi America and Hitachi Capital America to enhance its manufacturing and operational capabilities. Hitachi will conduct an operational assessment, utilizing its Smart Manufacturing and Electric Vehicle technologies, while Hitachi Capital will assist in developing a national dealer network and financing options for Workhorse's C-Series delivery vehicles. This partnership aims to support Workhorse's production ramp-up and meet increasing demand for electric vehicles in North America.
Workhorse Group Inc. (Nasdaq: WKHS) reported its financial results for Q2 2020, achieving sales of $92,000, a notable increase from $5,500 in Q2 2019. The company delivered three C-series electric vans and became the first medium-duty BEV OEM approved for sales in all 50 states. Significant expenses rose, with a net loss of $131.3 million, primarily due to non-cash interest adjustments. Workhorse secured $70 million in financing, enhancing its cash availability to approximately $105 million. CEO Duane Hughes emphasized operational milestones and production scaling opportunities.
Workhorse Group Inc. (NASDAQ: WKHS) will hold a conference call on August 10, 2020, at 10:00 a.m. ET to discuss its financial results for Q2 ended June 30, 2020. The call will follow a press release detailing the financial results. Participants can join via dedicated U.S. and international dial-in numbers. A replay will be available after 4:00 p.m. ET on the same day through August 17, 2020. Workhorse focuses on delivering drone-integrated electric vehicles to the last mile delivery sector, aiming to enhance efficiency while reducing environmental harm.
Workhorse Group Inc. (Nasdaq: WKHS) announced eligibility for its C-Series all-electric delivery trucks under California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). The California Air Resources Board (CARB) granted the Executive Order A-445-0003, allowing specific models to qualify for vouchers of up to $50,000 per vehicle, enhancing affordability for customers. While the HVIP program is currently on hold for new requests until fall 2020, Workhorse maintains its eligibility, which is expected to boost sales and support environmental goals.
Workhorse Group Inc. (Nasdaq: WKHS) announced a financing agreement for a $70 million Senior Secured Convertible Note with an institutional investor. The funds will support operating working capital and corporate purposes. The Note will rank equally with a previous note issued in December 2019 and is convertible into common stock at $19.00 per share. It matures on July 1, 2023, with a 4.5% annualized coupon. The financing is expected to enhance financial flexibility and support the company's production objectives for 2021.
