Core Viewpoint - Workhorse Group, Inc. has received shareholder approval for its merger with Motiv Electric Trucks, marking a significant step towards creating a leader in the medium-duty electric vehicle market [1][2]. Company Overview - Workhorse Group, Inc. is focused on the transition to zero-emission commercial vehicles, designing and building vehicles in the U.S. for last-mile delivery and medium-duty operations [3]. Merger Details - The merger with Motiv is expected to close in the coming weeks, pending customary closing conditions, including new debt financing and Nasdaq approval [2]. - The merger aims to combine two innovators in the medium-duty electric vehicle space, enhancing service to a blue-chip customer base [2]. Future Outlook - The CEO of Workhorse expressed optimism about the merger, highlighting the potential benefits for shareholders from the combined company's growth [2].

Visit VoteWKHS.com for Information on How to VoteCINCINNATI, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Workhorse Group, Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today reminded shareholders to take action and vote FOR all proposals in connection with Workhorse’s upcoming 2025 Annual General Meeting of Shareholders (the “Annual Meeting”). Shareholders of record as of the close of business on September ...

Core Viewpoint - The merger between Workhorse Group Inc. and Motiv Electric Trucks aims to create a leading North American medium-duty electric truck OEM, enhancing value through a broader portfolio of high-performing commercial EVs at lower unit costs [1][3][4] Company Overview - Workhorse Group Inc. focuses on zero-emission commercial vehicles and operates its manufacturing in Union City, Indiana [16] - Motiv Electric Trucks specializes in medium-duty, zero-emission electric trucks and buses, producing a variety of vehicles that meet stringent emissions standards [18][19] Merger Details - The merger is an all-stock transaction valuing the combined company at approximately $105 million, with Motiv's controlling investor becoming the majority owner [2][7] - Workhorse has completed a $20 million sale leaseback of its Union City plant and a $5 million convertible note financing in connection with the merger [1][8] Market Position - The combined company will operate in the $23 billion medium-duty truck segment, offering a full range of Class 4-6 trucks [3] - The merger is expected to enhance operational efficiencies and lower total cost of ownership (TCO) for customers [3][5] Financial Implications - The merger is anticipated to strengthen the financial profile of the combined company through improved operational scale and a simplified capital structure [4][6] - The companies expect to achieve at least $20 million in cost synergies by the end of 2026 through reductions in R&D, G&A, and facility costs [9] Leadership Structure - Following the merger, Scott Griffith, CEO of Motiv, will lead the combined company, while Rick Dauch, CEO of Workhorse, will serve as an advisor [4][5] Strategic Benefits - The merger is positioned to create a scalable manufacturing platform and a diverse product portfolio, enhancing the ability to serve a blue-chip customer base [3][9] - The combined company aims to leverage existing relationships with major medium-duty fleets to drive large-scale adoption of electric trucks [9]

Core Insights - Workhorse Group Inc. is expanding its partnership with Ziegler Truck Group by adding two new dealer locations, enhancing its national network for zero-emission commercial vehicles [1][2] - The addition of Range Truck Group in Fife, Washington, strengthens Workhorse's presence in the Pacific Northwest, a region with increasing demand for electric last-mile delivery trucks [2][4] - A third Ziegler Truck Group location in DeForest, Wisconsin, is also being added to support Workhorse's Class 4–6 all-electric work trucks, reinforcing the company's commitment to fleet support [3][4] Company Developments - Range Truck Group specializes in zero-emission commercial vehicles and charging solutions, contributing to the electric vehicle adoption in the Pacific Northwest [2][6] - Ziegler Truck Group is an approved California Air Resource Board HVIP dealer, providing access to incentives for fleets adopting clean transportation technologies [4][6] - Workhorse's strategy includes a service-first approach, equipping fleets with tools to electrify operations while maintaining performance and reliability [5][7] Market Position - Workhorse Group focuses on the transition to zero-emission commercial vehicles, designing and building its vehicles in the U.S. for last-mile delivery and medium-duty operations [7] - The company aims to make its lineup of 100% electric, medium-duty work trucks more accessible to commercial fleets, addressing the need for reduced emissions [5][7]

Core Viewpoint - Workhorse Group Inc. successfully completed a 2,400-mile drive of its W56 electric step van, demonstrating its capabilities and efficiency in real-world conditions, which is crucial for fleet managers considering electric vehicle adoption [1][2][3]. Group 1: Vehicle Performance and Cost Efficiency - The W56 achieved 27 miles per gallon of gasoline-equivalent (MPGe) at highway speeds, nearly three times the efficiency of comparable internal combustion engine (ICE) step vans [2]. - The vehicle averaged 53% lower fuel costs compared to ICE vehicles and has 40% lower scheduled maintenance costs over five years, providing significant total cost of ownership advantages [2]. - The W56 is designed for last-mile delivery with a real-world range of up to 150 miles and cargo capacities of 1,000 or 1,200 cubic feet [8]. Group 2: Real-World Testing and Demonstration - The cross-country journey is part of Workhorse's "We Drove It Here" campaign, which began in October 2024, aimed at showcasing the readiness of its vehicles for commercial deployment [6]. - The journey included various challenging conditions, highlighting the vehicle's reliability and efficiency across different terrains and weather [3][6]. - Fleet managers can test drive the W56 at the ACT Expo, allowing them to experience the vehicle's operational reliability firsthand [7]. Group 3: Industry Context and Support - The transition to electric vehicles is supported by state HVIP funding, federal incentives, and infrastructure requirements, which are critical for fleet managers [8]. - Workhorse's vehicles meet federal and state incentive program requirements, ensuring compliance with regulatory landscapes while delivering immediate operational cost reductions [8]. - Kingsburg Truck Center, a certified Workhorse dealer, emphasizes the importance of practical conversations about making the EV transition financially viable for fleet managers [8].