Workhorse Group Stock Price, News & Analysis

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.

Workhorse Group (Nasdaq: WKHS) will showcase its expanded W56 electric vehicle (EV) platform at Work Truck Week 2025 in Indianapolis from March 4–7, 2025. Attendees can experience the W56 208” extended wheelbase step van at the Ride & Drive event, which recently completed durability testing simulating over 250,000 highway miles. This model offers 1,200 cubic feet of cargo space and is ideal for demanding delivery and service routes.

In Booth 4401, Workhorse will preview the 140 kWh version of its W56 chassis, designed for fleet operators with shorter-range requirements. This model offers an estimated range of 100 miles and promises significant cost savings compared to the 210 kWh version. Orders for the 140 kWh W56 stripped chassis are now open through certified dealers, with deliveries expected in 2026.

Ryan Gaul, President of Commercial Vehicles at Workhorse, highlighted the company's expertise, citing 10 million real-world miles logged by their vehicles. Gaul emphasized the importance of American-made solutions and the company's commitment to advanced manufacturing jobs in the Midwest.