Workhorse Secures Order for 100 Electric Step Vans from Purolator
Workhorse Group announced a purchase order for 100 fully-electric step vans from Purolator. This new order will double the number of Workhorse electric step vans in Purolator's fleet, building upon its prior purchases from Motiv Electric Trucks, which merged with Workhorse in late 2025. Workhorse will deliver the step vans to Purolator throughout 2026.
Trade with 70% Backtested Accuracy
Analyst Views on WKHS
About WKHS
About the author
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.
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.
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.
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.
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.
What’s Happening with Workhorse Stock on Monday?
Reverse Stock Split: Workhorse Group Inc. executed a 1-for-12 reverse stock split, reducing outstanding shares from approximately 26 million to about 2.17 million, effective at Monday's market open.
Purpose of the Split: The reverse split aims to help Workhorse meet Nasdaq's minimum share-price requirements for its proposed merger with Motiv Power Systems, although success is not guaranteed.
Stock Performance: Following the split, Workhorse shares initially rose but have since fallen, trading 18.48% lower at $7.64 at the time of reporting.
Adjustments to Securities: The trading symbol for WKHS remains unchanged, and adjustments will be made to outstanding options, warrants, and restricted stock to reflect the reverse split.
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.
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.
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.
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.
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.
What’s Happening with Workhorse Stock on Monday?
Reverse Stock Split: Workhorse Group Inc. executed a 1-for-12 reverse stock split, reducing outstanding shares from approximately 26 million to about 2.17 million, effective at Monday's market open.
Purpose of the Split: The reverse split aims to help Workhorse meet Nasdaq's minimum share-price requirements for its proposed merger with Motiv Power Systems, although success is not guaranteed.
Stock Performance: Following the split, Workhorse shares initially rose but have since fallen, trading 18.48% lower at $7.64 at the time of reporting.
Adjustments to Securities: The trading symbol for WKHS remains unchanged, and adjustments will be made to outstanding options, warrants, and restricted stock to reflect the reverse split.
