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. reports developments tied to its role as a North American OEM and provider of all-electric trucks, step vans, shuttles and buses for commercial fleets. Recurring updates cover purchase orders for W56 step vans, fleet deployments, dealer relationships, customer-support programs that span vehicles and charging infrastructure, and post-sale service through dealer and factory-certified support networks.
The company also issues earnings and business-outlook announcements, operating updates and capital-structure or governance news. Its disclosures commonly reference commercial fleet customers, the Union City, Indiana manufacturing facility, the completed Motiv merger and the market for medium-duty electric delivery vehicles.
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Workhorse Group (WKHS) has introduced a Certified Dealer Program aimed at creating a verified network of dealers for the maintenance of its electric vehicles. The first certified dealer, Kingsburg Truck Center, is based in California and has invested in EV infrastructure to support this initiative. The program includes comprehensive training for dealers to ensure quality maintenance and facilitate vehicle deployment for customers. CEO Rick Dauch highlighted that this initiative is crucial for expanding Workhorse’s market presence and ensuring reliable service. Kingsburg will also receive the first ten W4 CC units as part of the partnership.
Workhorse Group (Nasdaq: WKHS), a leader in zero-emission commercial vehicles, will participate in the 35th Annual Roth Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, California. During the conference, Workhorse management will engage in one-on-one meetings with institutional investors and analysts, offering insights into their innovative electric vehicles and cloud-based monitoring systems.
The conference features approximately 400 private and public companies discussing various sectors, including Sustainability and Technology. Interested parties can contact Workhorse’s investor relations team to schedule meetings.
Workhorse Group (WKHS) unveiled its new W56 step van model at the National Truck Equipment Association's Work Truck Week in Indianapolis on March 8, 2023. This Class 5/6 vehicle boasts a benchmark payload capacity of approximately 10,000 pounds and a range of up to 150 miles. It features a spacious cargo box of over 1,000 cubic feet and is designed for safety and comfort during long shifts. The W56 is expected to begin production in Q3 2023, with customer demonstration vehicles available soon. CEO Rick Dauch highlighted the vehicle as a product of extensive on-road learnings from legacy models, marking a significant step in the company’s transition to a commercial EV OEM.
Workhorse Group (Nasdaq: WKHS) reported its Q4 and full year 2022 financial results on March 1, 2023. The Company achieved Q4 sales of $3.4 million, a return from a net loss of $2.0 million last year. Cost of sales dropped significantly to $21.2 million from $99.9 million, aided by reduced non-cash charges. For the full year, sales totaled $5.0 million versus a loss of $0.9 million in 2021. Net loss also improved to $117.3 million from $401.3 million in 2021. The outlook for 2023 is optimistic with anticipated revenue between $75 million and $125 million. Workhorse plans to ramp up production of its W4 CC, W750, and W56 commercial vehicles throughout the year.