Workhorse Launches W56 Electric Step Van Promotion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 07 2026
0mins
Should l Buy WKHS?
Source: Newsfilter
- Promotional Pricing Advantage: Workhorse has launched a promotion for its W56 electric step vans from April 1 to September 30, 2026, with the standard wheelbase model starting at $196,000, down from $255,000, saving customers $59,000 and significantly reducing procurement costs for commercial fleets.
- Operating Cost Savings: The W56 electric step van has demonstrated up to 64% savings in operating costs compared to internal combustion engines, particularly highlighted in the current high fuel price environment, making electric vans increasingly attractive for fleets facing rising fuel expenses.
- Market Demand Response: With fuel prices exceeding $4 per gallon in many states, commercial fleets are under significant operational pressure, and Workhorse's price reduction for the W56 directly addresses customer needs for cost stability and operational predictability, helping them prepare for the busy holiday season.
- Production Capacity Enhancement: Workhorse's facility in Indiana has the capability to produce over 5,000 electric trucks annually, and combined with a national dealer network and over 20 million real-world miles driven, it enhances the company's competitiveness and production readiness in the electric vehicle market.
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Analyst Views on WKHS
Wall Street analysts forecast WKHS stock price to rise
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 2.910
Low
7.80
Averages
7.80
High
7.80
Current: 2.910
Low
7.80
Averages
7.80
High
7.80
About WKHS
Workhorse Group Inc. is a North American manufacturer of medium-duty electric trucks and buses. Its primary focus is to provide solutions for the commercial transportation sector. The Company designs and manufactures all-electric trucks, including the technology that optimizes the way these trucks operate. The Company also manufactures medium-duty electric trucks and buses. Its products are marketed under the Workhorse brand. It manufactures Class 5/6 commercial delivery vehicles. Its vehicles include the W56, based on long-standing Company know-how in the Class 5/6 truck chassis market, a medium-duty chassis, designed for last-mile delivery and high payload work-truck applications. The W56 is delivered in either a striped chassis or a complete step van configuration. It also sells a Class 4 cab chassis called Epic 4, and can be used for shuttle, school, box, refrigeration, work truck, flat bed and specialty applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Workhorse Launches W56 Electric Step Van Promotion
- Promotional Pricing Advantage: Workhorse has launched a promotion for its W56 electric step vans from April 1 to September 30, 2026, with the standard wheelbase model starting at $196,000, down from $255,000, saving customers $59,000 and significantly reducing procurement costs for commercial fleets.
- Operating Cost Savings: The W56 electric step van has demonstrated up to 64% savings in operating costs compared to internal combustion engines, particularly highlighted in the current high fuel price environment, making electric vans increasingly attractive for fleets facing rising fuel expenses.
- Market Demand Response: With fuel prices exceeding $4 per gallon in many states, commercial fleets are under significant operational pressure, and Workhorse's price reduction for the W56 directly addresses customer needs for cost stability and operational predictability, helping them prepare for the busy holiday season.
- Production Capacity Enhancement: Workhorse's facility in Indiana has the capability to produce over 5,000 electric trucks annually, and combined with a national dealer network and over 20 million real-world miles driven, it enhances the company's competitiveness and production readiness in the electric vehicle market.
See More
Workhorse Group Reports Q4 2025 Earnings and Merger Impact
- Significant Revenue Growth: Workhorse Group reported Q4 2025 revenue of $9.7 million, a 61.7% increase from $6 million in Q4 2024, with full-year revenue reaching $21.2 million compared to $7 million in 2024, indicating strong market growth potential.
- Merger Challenges: Despite targeting $20 million in annual cost synergies from the merger, the company reported a net loss of $23.7 million in Q4, a 20.6% increase from the previous year, reflecting over $4 million in one-time expenses that pressured financials.
- Enhanced Production Capacity: The Union City, Indiana facility has the capacity to produce over 5,000 vehicles annually, and with the introduction of new models, it is expected to further drive revenue growth and enhance market competitiveness.
- Uncertain Profitability Outlook: The company does not anticipate achieving positive gross margins by the end of 2026, facing significant challenges in achieving cost parity with internal combustion engine trucks, necessitating a stronger balance sheet to support future growth plans.
See More
Workhorse Launches New W56 Electric Step Van Model
- New Model Launch: Workhorse has introduced the new W56 electric step van featuring a 140 kWh battery with a starting price of $169,000, offering an estimated range of 100 miles per charge at full payload, catering to last-mile delivery needs.
- Market Demand Response: This model is designed to address the needs of fleet operators seeking electrification due to rising fuel prices, providing a no-compromise option for cost control while ensuring efficient operations.
- Production Capacity Enhancement: The W56 is currently being produced at Workhorse's facility in Union City, Indiana, which has the capacity to manufacture over 5,000 vehicles annually, ensuring predictable delivery timelines.
- Positive Stock Market Reaction: Following the new model announcement, Workhorse's shares rose 5% in after-hours trading on Wednesday, despite an 89% decline in stock price over the past 12 months, indicating optimistic market sentiment towards the new product.
See More
Workhorse Merges with Motiv, Secures $50 Million Financing
- Merger Completion: Workhorse has successfully merged with Motiv, establishing itself as a leading manufacturer of medium-duty electric trucks in North America, which is expected to significantly enhance market share and competitive positioning.
- Enhanced Financing Capacity: Motiv's controlling investor has provided Workhorse with up to $50 million in new debt financing, including approximately $10 million in a revolving credit facility, which is anticipated to greatly improve the company's liquidity to support future growth.
- Increased Production Capacity: Workhorse's manufacturing facility in Indiana has an annual capacity of 5,200 vehicles, enabling it to meet the number of vehicles required for profitability without significant new capital expenditures.
- Optimized Management Team: Following the merger, Workhorse will have an experienced management team with a proven track record in designing quality products and scaling manufacturing, which is expected to drive the company's continued growth in the electric truck market.
See More
Workhorse Completes Merger with Motiv, Secures $50 Million Financing
- Merger Completion: Workhorse has successfully completed its merger with Motiv, establishing itself as a leading North American manufacturer of medium-duty electric trucks, which is expected to significantly enhance market share and competitiveness.
- Financing Support: Motiv's controlling investor has provided Workhorse with up to $50 million in new debt financing, including approximately $10 million in a revolving credit facility, which is anticipated to greatly enhance the company's liquidity to support growth.
- Production Capacity Enhancement: Workhorse's manufacturing facility in Indiana has an annual capacity of 5,200 vehicles, enabling it to meet the number of vehicles required for profitability without significant new capital expenditures.
- Management Team Optimization: Post-merger, Workhorse will benefit from an experienced management team focused on driving innovation in electric trucks and market expansion, which is expected to create long-term value for shareholders.
See More
What’s Happening with Workhorse Stock Today?
Stock Performance: Workhorse Group Inc shares are down 12.52% to $6.64 following a 1-for-12 reverse stock split aimed at meeting Nasdaq's minimum bid price requirements amid a merger with Motiv Power Systems.
Earnings Report Impact: The company's recent third-quarter earnings report showed mixed results, with a narrower loss per share of 50 cents but revenue falling short of analyst expectations at $2.39 million.
Market Sentiment: Reverse stock splits are often viewed negatively by investors as they can signal distress, leading to concerns about potential future dilution and the company's financial health.
Technical Analysis: Workhorse's stock is trading significantly below its 50-day and 200-day moving averages, indicating a bearish trend and substantial resistance in regaining lost value.
See More
Workhorse Launches W56 Electric Step Van Promotion
- Promotional Pricing Advantage: Workhorse has launched a promotion for its W56 electric step vans from April 1 to September 30, 2026, with the standard wheelbase model starting at $196,000, down from $255,000, saving customers $59,000 and significantly reducing procurement costs for commercial fleets.
- Operating Cost Savings: The W56 electric step van has demonstrated up to 64% savings in operating costs compared to internal combustion engines, particularly highlighted in the current high fuel price environment, making electric vans increasingly attractive for fleets facing rising fuel expenses.
- Market Demand Response: With fuel prices exceeding $4 per gallon in many states, commercial fleets are under significant operational pressure, and Workhorse's price reduction for the W56 directly addresses customer needs for cost stability and operational predictability, helping them prepare for the busy holiday season.
- Production Capacity Enhancement: Workhorse's facility in Indiana has the capability to produce over 5,000 electric trucks annually, and combined with a national dealer network and over 20 million real-world miles driven, it enhances the company's competitiveness and production readiness in the electric vehicle market.
See More
Workhorse Group Reports Q4 2025 Earnings and Merger Impact
- Significant Revenue Growth: Workhorse Group reported Q4 2025 revenue of $9.7 million, a 61.7% increase from $6 million in Q4 2024, with full-year revenue reaching $21.2 million compared to $7 million in 2024, indicating strong market growth potential.
- Merger Challenges: Despite targeting $20 million in annual cost synergies from the merger, the company reported a net loss of $23.7 million in Q4, a 20.6% increase from the previous year, reflecting over $4 million in one-time expenses that pressured financials.
- Enhanced Production Capacity: The Union City, Indiana facility has the capacity to produce over 5,000 vehicles annually, and with the introduction of new models, it is expected to further drive revenue growth and enhance market competitiveness.
- Uncertain Profitability Outlook: The company does not anticipate achieving positive gross margins by the end of 2026, facing significant challenges in achieving cost parity with internal combustion engine trucks, necessitating a stronger balance sheet to support future growth plans.
See More
Workhorse Launches New W56 Electric Step Van Model
- New Model Launch: Workhorse has introduced the new W56 electric step van featuring a 140 kWh battery with a starting price of $169,000, offering an estimated range of 100 miles per charge at full payload, catering to last-mile delivery needs.
- Market Demand Response: This model is designed to address the needs of fleet operators seeking electrification due to rising fuel prices, providing a no-compromise option for cost control while ensuring efficient operations.
- Production Capacity Enhancement: The W56 is currently being produced at Workhorse's facility in Union City, Indiana, which has the capacity to manufacture over 5,000 vehicles annually, ensuring predictable delivery timelines.
- Positive Stock Market Reaction: Following the new model announcement, Workhorse's shares rose 5% in after-hours trading on Wednesday, despite an 89% decline in stock price over the past 12 months, indicating optimistic market sentiment towards the new product.
See More
Workhorse Merges with Motiv, Secures $50 Million Financing
- Merger Completion: Workhorse has successfully merged with Motiv, establishing itself as a leading manufacturer of medium-duty electric trucks in North America, which is expected to significantly enhance market share and competitive positioning.
- Enhanced Financing Capacity: Motiv's controlling investor has provided Workhorse with up to $50 million in new debt financing, including approximately $10 million in a revolving credit facility, which is anticipated to greatly improve the company's liquidity to support future growth.
- Increased Production Capacity: Workhorse's manufacturing facility in Indiana has an annual capacity of 5,200 vehicles, enabling it to meet the number of vehicles required for profitability without significant new capital expenditures.
- Optimized Management Team: Following the merger, Workhorse will have an experienced management team with a proven track record in designing quality products and scaling manufacturing, which is expected to drive the company's continued growth in the electric truck market.
See More
Workhorse Completes Merger with Motiv, Secures $50 Million Financing
- Merger Completion: Workhorse has successfully completed its merger with Motiv, establishing itself as a leading North American manufacturer of medium-duty electric trucks, which is expected to significantly enhance market share and competitiveness.
- Financing Support: Motiv's controlling investor has provided Workhorse with up to $50 million in new debt financing, including approximately $10 million in a revolving credit facility, which is anticipated to greatly enhance the company's liquidity to support growth.
- Production Capacity Enhancement: Workhorse's manufacturing facility in Indiana has an annual capacity of 5,200 vehicles, enabling it to meet the number of vehicles required for profitability without significant new capital expenditures.
- Management Team Optimization: Post-merger, Workhorse will benefit from an experienced management team focused on driving innovation in electric trucks and market expansion, which is expected to create long-term value for shareholders.
See More
What’s Happening with Workhorse Stock Today?
Stock Performance: Workhorse Group Inc shares are down 12.52% to $6.64 following a 1-for-12 reverse stock split aimed at meeting Nasdaq's minimum bid price requirements amid a merger with Motiv Power Systems.
Earnings Report Impact: The company's recent third-quarter earnings report showed mixed results, with a narrower loss per share of 50 cents but revenue falling short of analyst expectations at $2.39 million.
Market Sentiment: Reverse stock splits are often viewed negatively by investors as they can signal distress, leading to concerns about potential future dilution and the company's financial health.
Technical Analysis: Workhorse's stock is trading significantly below its 50-day and 200-day moving averages, indicating a bearish trend and substantial resistance in regaining lost value.
See More
