Workhorse Group Inc.
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- Workhorse Group Inc. (Nasdaq: WKHS) designs, manufactures, and sells zero-emission battery-electric commercial vehicles primarily for last-mile delivery, medium-duty operations, and specialized applications in the United States. The company offers core products including the W56 step van and stripped chassis with up to 1,000 cubic feet of cargo space, 120-mile range, lightweight design, and battery-electric powertrain optimized for urban routes; electric utility vehicles featuring durable chassis, customizable cargo options, and reduced emissions for municipalities, utilities, and commercial businesses; HorseFly autonomous delivery drones integrated with Workhorse vans to enhance last-mile efficiency; and cloud-based telematics systems for energy and route optimization. Founded in 2007 and headquartered in Sharonville, Ohio, with key manufacturing at the Workhorse Ranch in Union City, Indiana, an engineering center in Wixom, Michigan, and approximately 143 to 300 employees, Workhorse operates in the consumer cyclical vehicles and parts sector targeting fleet operators, logistics providers, e-commerce companies, and government entities across North America. In recent developments, Workhorse entered a definitive merger agreement with Motiv Electric Trucks in 2025 to create a leading North American medium-duty electric truck OEM, expanding its product portfolio, enhancing operational efficiencies, and lowering total cost of ownership for customers; secured approximately $25 million in interim funding from Motiv's controlling investor through a $20 million sale-leaseback of its Union City facility and a $5 million secured convertible note to extend its financial runway and reduce debt; reported record Q2 2025 results with 36 purchase orders, 32 W56 step van deliveries, and $7 million year-over-year operating expense reductions; launched the Utilimaster Aeromaster body option for the W56 chassis; and achieved strong Q3 2025 financial progress amid the proposed Motiv combination.
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