Workhorse Group - WKHS STOCK NEWS

Workhorse Group Inc. (NASDAQ: WKHS) will host a conference call on August 9, 2021, at 10:00 a.m. ET to discuss its Q2 financial results for the period ending June 30, 2021. Financial results will be released prior to the call. Participants can dial in using U.S. number 877-407-8289 or international number 201-689-8341. A live broadcast will be available, and the call will also be replayed until August 16, 2021. Workhorse focuses on providing electric vehicles integrated with drone technology for last-mile delivery, contributing to efficiency in logistics.

Workhorse Group (NASDAQ: WKHS) announced the appointment of Rick Dauch as new CEO, effective August 2, 2021, succeeding Duane Hughes. Dauch brings over 25 years of industry experience, including previous CEO roles at Delphi Technologies and Accuride Corporation. Under his leadership, Workhorse aims to enhance operations and tackle challenges in the $20 billion last-mile delivery vehicle market. The company is also withdrawing previously stated guidance to allow Dauch time to analyze current strategies and establish new plans.

Workhorse Group (WKHS) announced on June 16, 2021, that it has filed a formal complaint with the United States Federal Court of Claims regarding the USPS Next Generation Delivery Vehicle contract awarded to a competing finalist. The company had earlier requested additional information from USPS following the contract award revealed on February 23, 2021. While Workhorse discussed the award and selection specifics with USPS on March 3, 2021, further details remain undisclosed. The company will provide updates as permitted under its non-disclosure agreement.

Workhorse Group Inc. (Nasdaq: WKHS) reported Q1 2021 financial results, highlighting sales of approximately $521,000 from six truck deliveries, up from $84,000 a year prior. The company produced 38 C-Series vehicles in 2021, exceeding production from the past three quarters combined. A strategic agreement with EAVX aims to expand product offerings. Significant net loss of $120.5 million reported, contrasting with net income of $4.8 million in the same period last year. Workhorse has approximately $205.1 million in cash as of March 31, 2021, and plans to adjust production estimates to 1,000 units for the year.

Workhorse Group (WKHS) has announced a strategic development agreement with EAVX, a subsidiary of J.B. Poindexter & Co. This collaboration aims to expand Workhorse's product line and create new delivery vehicle solutions leveraging Workhorse's expertise in electric vehicles and drone technology. The partnership is set to address the growing demand in the last-mile delivery sector and aims to enhance manufacturing and distribution efforts. Workhorse CEO Duane Hughes expressed optimism about the agreement, anticipating significant value creation for both companies.

Workhorse Group Inc. (NASDAQ: WKHS) has announced a supply agreement with Coulomb Solutions, Inc. for battery systems from Contemporary Amperex Technology Co., Limited (CATL) for its electric delivery vehicles. Workhorse's C-650 and C-1000 vans will utilize CATL's 120 kWh Lithium-Iron Phosphate batteries, which offer superior performance, safety, and longevity. CATL, a global leader in battery manufacturing, powers over 330,000 commercial EVs, boasting a production capacity of over 60 GWh. This partnership aims to enhance the performance and efficiency of Workhorse’s delivery solutions.

Workhorse Group (NASDAQ: WKHS) will hold a conference call on May 10, 2021, at 10:00 a.m. Eastern time to discuss its Q1 2021 financial results. The press release detailing these results will be issued prior to the call. Investors can join the call by dialing specific numbers provided for U.S. and international callers. A replay will be available post-call until May 17, 2021. Workhorse focuses on developing sustainable, drone-integrated electric vehicles for last-mile delivery and offers real-time telematics to optimize fleet operations.

Workhorse Group has appointed Ryan Gaul as the new President of Commercial Vehicles, effective April 22, 2021. Gaul, with nearly 20 years of automotive experience, will manage the company's commercial vehicles division, including its manufacturing facility in Union City. He previously held significant leadership roles at Gentherm, overseeing manufacturing and supply-chain functions. CEO Duane Hughes emphasized Gaul's expertise will be crucial in scaling production and implementing best practices.

Workhorse Group (WKHS) has appointed John Graber as President – Aerospace, effective April 20, 2021. Graber, who previously led the HorseFly™ drone delivery program, will oversee the company's Unmanned Aerial Systems businesses. He brings extensive aerospace experience and a solid background in corporate strategy and business development. CEO Duane Hughes highlighted Graber's significant contributions to the HorseFly™ initiative, stating that 2021 will be pivotal for advancing its FAA certification and expanding aircraft production. This leadership change aims to enhance last-mile delivery operations.