Kingsburg Truck Sales Bolsters Workhorse Partnership as Workhorse Sharpens Commercial EV Focus

Core Insights - Workhorse Group Inc. has announced a strategic collaboration with Kingsburg Truck Sales to enhance the adoption of zero-emission trucks in California, specifically through the purchase of 141 units of the Workhorse W4 CC trucks, expected for delivery in 2024 [1][17] - The collaboration is aimed at addressing the needs of commercial truck and small fleet owners amid California's stringent air quality regulations, while also streamlining Workhorse's operations following the divestiture of its Aero business [17][20] Company Developments - Kingsburg Truck Sales has committed to purchasing a significant number of Workhorse W4 CC trucks, reflecting confidence in the changing market for work trucks due to Advanced Clean Fleet (ACF) regulations [1][3] - Workhorse anticipates that the W4 CC will qualify for up to $60,000 in incentives through California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), which is crucial for customer acquisition [4][10] - The divestiture of the Aero business is expected to provide monthly cost savings of approximately $375,000, allowing Workhorse to focus more on its commercial electric vehicle (EV) product roadmap [20][21] Product Offerings - The Workhorse W4 CC is designed to meet various industry needs with a range of body options, including Flatbed, Utility Bed, and Landscape Body, ensuring quick delivery for work truck owners [19][11] - The W4 CC features a range of up to 150 miles and compatibility with Level 2 and Level 3 charging, making it suitable for local delivery routes while helping customers comply with ACF regulations [10][11] Market Positioning - Kingsburg Truck Sales has been recognized as Workhorse's 2023 dealer of the year, highlighting its pivotal role in facilitating multiple purchase orders for Workhorse vehicles since becoming the first certified EV dealer in California [18] - The collaboration with Kingsburg is part of Workhorse's broader strategy to drive the adoption of zero-emission commercial vehicles and expand its dealer network [6][13]