Workhorse Group, Inc - WKHS STOCK NEWS

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. (NASDAQ: WKHS) is a leading technology company focused on the transition to zero-emission commercial vehicles. Headquartered in Loveland, OH, Workhorse specializes in the design and production of battery-electric powertrains and medium-duty truck chassis. Operating from a 50,000 sq. ft. facility, the company manufactures proprietary, automotive-grade electric powertrains and integrates them with its custom-designed control software. Workhorse’s assembly plant, spanning 200,000 sq. ft., enables the company to produce the reliable W62 chassis and the innovative W88 chassis, targeting fleet purchasers with competitive price points and performance specifications.

Workhorse’s notable product lineup includes the W4 CC, W750, and W56 electric vehicles, designed to meet the needs of the last-mile delivery market. Additionally, Workhorse has developed the HorseFly™ UAV delivery system, a high-efficiency, octocopter-based drone that integrates seamlessly with its electric and hybrid delivery trucks, adhering to FAA guidelines.

In recent developments, Workhorse has pivoted its Aero business model to a more cost-effective Drones-as-a-Service (DaaS), securing substantial grants from the USDA to enhance land use efficiency for farmers and ranchers. The company’s latest financial results for the fourth quarter of 2023 recorded an increase in sales to $4.4 million, driven by vehicle sales and DaaS contributions, despite a net loss of $45.3 million.

The company is actively strengthening its financial position through new financing avenues, aggressive cost reduction measures, and strategic collaborations. Notably, Workhorse has expanded its network with key partners like Ziegler Truck Group and Milea Truck Sales and Leasing, enhancing its reach across the United States.

Workhorse continues to innovate with its commercial EV product roadmap, achieving significant milestones such as the rollout of the W56 step van and the development of the W4 CC chassis with various upfit options. The company's commitment to sustainability and efficiency positions it as a pivotal player in the electric commercial vehicle sector.

For more information, visit workhorse.com.

12/21/2023 08:30 AM

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Workhorse Highlights Achievements in 2023 Year-End Letter to Shareholders

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Workhorse Group Inc. (Nasdaq: WKHS) has issued a letter to shareholders highlighting milestones reached in 2023 and opportunities ahead to enhance shareholder value. The company resolved production and supply issues, strengthened its financial position, expanded its regional dealer network, and received fleet purchase orders for its vehicles. Workhorse is focused on operational execution and delivery of high-performance battery-electric trucks and drones to customers, aiming to succeed in the market and deliver value to shareholders.

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12/20/2023 08:30 AM

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Workhorse Group Receives First Fleet Order for W56 Step Van

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Workhorse Group Inc. (Nasdaq: WKHS) has received its first fleet order for the W56 step van from Mission Linen Supply, a California based, privately-held company. The initial 15-vehicle order is expected to be delivered in 2024. The W56 provides a unique blend of high reliability, quality, and serviceability, with a benchmark payload capacity of up to approximately 10,000 pounds and a range of up to 150 miles. The W56 step van also offers a large 1,000+ cubic foot cargo box with lowered step-in and wide cabin door for easier entry and exit. Workhorse CEO Rick Dauch expressed excitement about this milestone, emphasizing the vehicle's capability and reliability. Mission Linen Supply's Senior Manager for Fleet and Safety, Corporate Services, Evelyn Scott-Phillips, also praised the W56's advanced technology and features, highlighting the superb support from the Workhorse team during the demo.

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12/19/2023 04:05 PM

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Workhorse Group Expands West Coast Presence, Adding The Truck Shop as its Latest Dealer

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Workhorse Group Inc. (Nasdaq: WKHS) has announced the addition of The Truck Shop as a dealer, expanding its total dealer count to nine. The Truck Shop, with locations in Washington and Oregon, will serve as a gateway to sales in the Pacific Northwest. The partnership aims to tap into the growing demand for zero emission commercial vehicles in the region.

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11/29/2023 08:30 AM

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Workhorse Group Expands Dealer Network to Eight Partners Nationwide

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Workhorse Group Inc. (Nasdaq: WKHS) has expanded its dealer network by adding Colonial Equipment Company and Freeway Isuzu, along with Fairway EV as a Certified Dealer. The Certified Dealer Program aims to establish a verified network of dealers for safe repair and maintenance of electric components in Workhorse vehicles. With a total of eight partners nationwide, Workhorse is strategically growing its sales efforts in the EV market, particularly in California, the nation's leading EV market.

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11/14/2023 07:00 AM

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Workhorse Group Reports Third Quarter 2023 Results

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Workhorse Group Inc. (Nasdaq: WKHS) reported Q3 2023 financial results, highlighting progress in commercial EV, drone, and last mile delivery product roadmaps. Despite financial impact due to HVIP voucher delays, the company resolved the issue and received approval for a first-of-its-kind program from the California Air Resources Board. Workhorse also achieved milestones in its aerospace business and is exploring strategic alternatives. The company's 2023 full year revenue guidance has been reduced due to market disruption caused by delayed access to the California market.

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11/03/2023 08:30 AM

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Workhorse Group Reschedules Third Quarter 2023 Earnings Call to Tuesday, November 14, 2023 at 8:00 a.m. ET

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Workhorse Group Inc. has rescheduled its third quarter earnings conference call to Tuesday, November 14th at 8:00 a.m. Eastern time. The company will discuss financial results for the third quarter and its plans and outlook. Financial results will be issued in a press release prior to the call.

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10/30/2023 08:30 AM

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Workhorse Group Sets Third Quarter 2023 Earnings Call for Tuesday, November 7, 2023 at 10:00 a.m. ET

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Workhorse Group Inc. will hold a conference call on November 7th to discuss its financial results for Q3 2023. The call will include a presentation and a Q&A period. The company's financial results will be issued in a press release prior to the call. The call will be broadcast live and available for replay on the company's website.

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10/18/2023 08:30 AM

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Workhorse Group Advances Aero Business

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Workhorse Group Inc. announces progress in advancing Workhorse Aero, its drone business. The company is working towards FAA approval for its drone, Horsefly, to operate under UPS Flight Forward's drone airline certificate. Workhorse Aero has also received two additional grants from the USDA for farmland scanning.

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09/12/2023 04:05 PM

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Workhorse Receives IRS Approval for Commercial Clean Vehicle Credit

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Workhorse Group Inc. receives IRS approval as a qualified manufacturer for the Commercial Clean Vehicle Credit, allowing customers to receive up to a $40,000 credit for deliveries of all Workhorse vehicles in 2023 and beyond.

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09/07/2023 08:30 AM

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Workhorse Begins Production of W56 Chassis

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Workhorse Group Inc. starts production of W56 electric vehicle chassis, expects strong customer interest and firm purchase orders in Q4

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FAQ

What is the current stock price of Workhorse Group (WKHS)?

The current stock price of Workhorse Group (WKHS) is $0.8034 as of December 20, 2024.

What is the market cap of Workhorse Group (WKHS)?

The market cap of Workhorse Group (WKHS) is approximately 32.0M.

What does Workhorse Group Inc. specialize in?

Workhorse Group Inc. specializes in the design and manufacture of battery-electric powertrains and medium-duty truck chassis, focusing on zero-emission commercial vehicles.

What are the main products offered by Workhorse?

Workhorse offers electric vehicles such as the W4 CC, W750, and W56 chassis, as well as the HorseFly™ UAV delivery system which integrates with their electric and hybrid delivery trucks.

What is the HorseFly™ UAV delivery system?

The HorseFly™ UAV delivery system is a custom-built, high-efficiency octocopter-based drone designed for integration with Workhorse's electric/hybrid delivery trucks, conforming to FAA guidelines.

How is Workhorse improving its financial condition?

Workhorse is improving its financial condition through new financing sources, aggressive cost reduction actions, strategic divestitures, and partnerships to enhance liquidity and support its product roadmap.

What are the recent financial results of Workhorse?

For Q4 2023, Workhorse reported sales of $4.4 million, an increase from the previous year, with a net loss of $45.3 million. Full-year 2023 sales reached $13.1 million, driven by increased vehicle sales and DaaS revenue.

What steps has Workhorse taken to expand its market reach?

Workhorse has expanded its market reach by adding key dealers and partners like Ziegler Truck Group and Milea Truck Sales and Leasing, enhancing its dealer network across multiple states.

What is the Drones-as-a-Service (DaaS) model?

The Drones-as-a-Service (DaaS) model, adopted by Workhorse’s Aero business, focuses on providing drone services to customers without the capital-intensive manufacturing process.

What is the significance of Workhorse's partnership with Ziegler Truck Group?

The partnership with Ziegler Truck Group expands Workhorse’s dealer network in the Midwest, enhancing its ability to meet the growing demand for zero-emission commercial vehicles.

How does Workhorse support sustainability?

Workhorse supports sustainability by designing and building high-performance, battery-electric trucks and drones, reducing environmental harm and enhancing the efficiency of people and goods movement.

Where can I find more information about Workhorse Group Inc.?

More information about Workhorse Group Inc. can be found on their official website at workhorse.com.

Workhorse Group, Inc

Nasdaq:WKHS

WKHS Rankings

#5101 Ranked by Market Cap

N/A Ranked by Dividends

WKHS Stock Data

Market Cap 32.04M

Float 39.94M

Insiders Ownership 4.09%

Institutions Ownership 21.41%

Short Percent 24.54%

Industry Auto Manufacturers

Sector Motor Vehicles & Passenger Car Bodies

Website Link

Country United States of America

City LOVELAND