Workhorse Group, Incorporated (WKHS)

Workhorse Group, Incorporated (WKHS)

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Workhorse Group, Incorporated (WKHS) Profile

Workhorse Group Inc. is an American technology company based in Cincinnati, Ohio, focused on manufacturing electric-powered delivery and utility vehicles. The Workhorse Group is involved in designing, manufacturing, selling, and leasing electric vehicles and aircraft in the United States. Its product includes C-series electric delivery truck and package delivery aircraft, HorseFly. The company made a major order for its electric delivery vehicles: Pride Group Enterprises, which operates in Canada and the US, has ordered 6,320 C-Series electric delivery trucks from Workhorse, concerning the C-650 and C-1000 models, with deliveries started from July 2021 and end in 2026. This order is being the largest of the company to date. The electric deliver vans will be sold through Pride dealers for fleet use. Workhorse competes directly with OEMs and startups like Rivian in the US with its vehicles. The latter manufacturer is known to have signed a mega order for 100,000 electric delivery vehicles with Amazon. The agreement of Workhorse Group with Pride will expand their sales channel internationally into Canada for the first time. The market cap of the company was $1.12B USD as of September 2021.

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