EBike Work Horse Updates

Tuesday, 15 October 2024 12:25 PM Workhorse Group Inc. has announced that its 208-inch extended wheelbase version of the W56 step van has achieved FMVSS and HVIP certifications, validating its safety and environmental compliance. The model is now in full production at Workhorses Union City, Indiana facility, with deliveries expected in Q4 2024. This development addresses the growing demand for larger, zero-emission delivery vehicles.

Sunday, 15 September 2024 08:17 AM FedEx has ordered 15 more Workhorse W56 electric step vans after a successful pilot program. The W56 is designed for commercial-scale last-mile delivery operations, offering superior efficiency, lower operational costs, and reduced air pollution. FedEx aims to transition its global parcel pickup and delivery fleet to all zero-tailpipe emissions vehicles by 2040. I think this is a significant step towards a more sustainable delivery fleet.

Tuesday, 20 August 2024 08:24 AM Workhorse Group reported sales of $0.8 million for the second quarter of 2024, down from $4.0 million in the same period last year. Despite the financial challenges, the company is advancing its EV product roadmap and has secured new orders, including 141 W4 CC cab chassis vehicles from Kingsburg Truck Sales. I think the company is making the right moves but needs to accelerate its sales to stay afloat.

Wednesday, 03 July 2024 01:14 PM Workhorse Group Inc. has regained compliance with the NASDAQ minimum bid price requirement of $1.00 per share following a 1-for-20 reverse stock split. This move helps the company avoid delisting from the NASDAQ. I believe this is a temporary fix, and the company needs to focus on generating more revenue to sustain itself.

Thursday, 06 June 2024 07:53 AM Workhorse Group has completed the divestiture of its Aero business, which is expected to provide monthly cost savings of approximately $0.4 million. This move allows the company to focus more on its commercial electric vehicle truck business. I believe this is a strategic decision to streamline operations and conserve cash.

Friday, 31 May 2024 04:39 PM Workhorse has laid off 20% of its workforce and placed much of the rest on unpaid furlough. The company is struggling with inventory and has less than $7 million in cash, with accounts payable exceeding twice that amount. Despite these challenges, Workhorse is counting on regulatory requirements, such as Californias Advanced Clean Trucks rule, to boost demand for its electric trucks. I think the company is in a critical phase and needs significant orders to recover.

Wednesday, 01 May 2024 05:45 PM Workhorse is finalizing the engineering and testing for a new 208-inch wheelbase, 1200 cubic feet capacity step van, expected to be in production by the end of 2024. This model is part of the companys effort to expand its product offering based on feedback from potential fleet customers. I believe this new model could attract more customers looking for larger cargo capacity.

Monday, 01 April 2024 01:47 PM NorCal Transports, a last-mile delivery contractor, has added a Workhorse flagship W56 step van to its fleet. This order is part of Workhorses efforts to increase its presence in the commercial electric vehicle market. I think these small orders are crucial for building momentum and demonstrating the viability of their vehicles.

Saturday, 02 March 2024 12:47 AM Workhorse featured its W56 truck at the Advanced Clean Transportation Expo in Las Vegas, highlighting its electric drivetrain, regenerative braking, and lightweight composite body panels. The company is focusing on the positive aspects of its technology despite its financial struggles. I believe showcasing their technology is important, but they need to translate this into sales.

Thursday, 01 February 2024 06:11 AM UPS and FedEx have shown continued interest in Workhorses electric delivery vans, with UPS still working to fulfill an order from 2018. FedEx has also been testing the W56 step vans as part of its plan to electrify its delivery fleet. I think the support from these major logistics companies is a positive sign for Workhorses future.