Workhorse Group delivers its W56 electric step van to NorthStar Courier, marking a milestone in EV adoption in Minnesota.
Quiver AI Summary
Workhorse Group Inc. has delivered its W56 electric step van to NorthStar Courier, a FedEx Ground Contract Service Provider in Minneapolis, marking a significant milestone as it's the first deployment of the W56 by a FedEx Service Provider outside California. The van is now in operation, handling delivery routes in Minneapolis, supported by Minnesota's initiatives to promote commercial electric vehicle adoption. The W56 is designed for last-mile delivery and offers a sustainable and cost-effective solution for businesses looking to reduce emissions. Workhorse aims to expand its presence in the electric vehicle market for commercial applications and encourages more service providers to adopt electric vehicles.
Potential Positives
- Workhorse Group has achieved a significant milestone by delivering its W56 electric step van to NorthStar Courier, marking the first deployment of this vehicle by a FedEx Ground Service Provider outside of California.
- The W56's deployment in Minnesota highlights the state's commitment to commercial EV adoption, supported by state grants that promote fleet electrification and the transition from diesel vehicles to zero-emission solutions.
- This achievement underscores Workhorse's expanding footprint in the growing electric vehicle market for commercial applications, reinforcing its role as a pioneer in the transition to zero-emission transportation.
- The W56 is designed for efficiency and sustainability, offering reliable operations and operational cost reductions, positioning Workhorse as a viable solution for businesses seeking to enhance their environmental practices.
Potential Negatives
- The press release focuses on a single delivery of the W56 electric step van, which may indicate limited sales activity or slow adoption of their vehicles in the market.
- No financial details or metrics provided to assess the impact of this delivery on the company's revenue or growth prospects, raising concerns about the company's overall financial health.
- The mention of a "safe harbor" disclaimer highlights potential risks and uncertainties, which could indicate that the company sees challenges in achieving its operational goals.
FAQ
What is the Workhorse W56 electric step van?
The Workhorse W56 is an electric step van designed for last-mile delivery with zero tailpipe emissions.
Who delivered the W56 to NorthStar Courier?
The W56 was delivered to NorthStar Courier by Workhorse Certified Dealer, Ziegler Truck Group.
Where is NorthStar Courier based?
NorthStar Courier is based in Minneapolis, Minnesota.
How does Minnesota support electric vehicle adoption?
Minnesota supports electric vehicle adoption through state grants aimed at fleet electrification and replacing older diesel vehicles.
What advantages does the W56 offer for businesses?
The W56 offers reliability, extended range, ample cargo capacity, and reduced environmental impact for delivery operations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKHS Hedge Fund Activity
We have seen 2 institutional investors add shares of $WKHS stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ETHIC INC. added 15,268 shares (+inf%) to their portfolio in Q3 2024
- IFP ADVISORS, INC removed 475 shares (-10.8%) from their portfolio in Q2 2024
- GILLILAND JETER WEALTH MANAGEMENT LLC added 100 shares (+inf%) to their portfolio in Q3 2024
- BENJAMIN F. EDWARDS & COMPANY, INC. removed 25 shares (-100.0%) from their portfolio in Q2 2024
- CIBC PRIVATE WEALTH GROUP, LLC removed 24 shares (-100.0%) from their portfolio in Q2 2024
- FINANCIAL GRAVITY ASSET MANAGEMENT, INC. removed 9 shares (-100.0%) from their portfolio in Q2 2024
- HORIZON FINANCIAL SERVICES, LLC added 0 shares (+0.0%) to their portfolio in Q3 2024
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Full Release
CINCINNATI, Nov. 21, 2024 (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 announced the delivery of its W56 electric step van to NorthStar Courier, a FedEx Ground Contract Service Provider based in Minneapolis, Minnesota. The sale was facilitated by Workhorse Certified Dealer,
Ziegler Truck Group
.
This milestone marks the first deployment of the Workhorse W56 by a FedEx Ground Service Provider outside of California. NorthStar Courier's W56 is currently in service, efficiently handling parcel pickup and delivery routes throughout Minneapolis.
Minnesota is emerging as a leader in commercial EV adoption, supported by state grants aimed at accelerating fleet electrification and replacing older diesel vehicles with zero tailpipe emissions solutions. The W56, engineered for last-mile delivery, offers a sustainable alternative for service providers and businesses seeking to reduce their environmental footprint and operating costs.
"We are excited to see NorthStar Courier leading the charge in Minnesota by putting the W56 into service," said Kelly Kiger, Vice President of Sales at Workhorse. "Expanding adoption of electric vehicles in key states like Minnesota is vital to accelerating the transition to zero-emission transportation across the country. NorthStar Courier is setting an example for FedEx Service Providers and businesses nationwide looking to improve efficiency while reducing their environmental impact."
The W56, manufactured at the Workhorse Ranch in Union City, Indiana, combines reliability, extended range, and ample cargo capacity, making it an ideal solution for parcel delivery operations. Now available in both standard and extended wheelbase configurations, the W56 offers pre-configured upfit options tailored for parcel delivery, providing flexibility to meet the diverse needs of fleet operators. With this delivery, Workhorse continues to expand its footprint in the growing electric vehicle market for commercial applications.
For more information about Workhorse and its portfolio of zero-emission commercial vehicles, visit
.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing ground-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit
workhorse.com
.
Forward-Looking Statements
The discussions in this press release contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "expect," "plan," "believe," "seek," "estimate," and similar expressions are intended to identify forward-looking statements and relate to future periods. These are statements that involve substantial risks and uncertainties. Forward-looking statements are statements that are not historical facts and speak only as of the date hereof. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.
Media Contact:
Aaron Palash / Greg Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Investor Relations Contact:
Tom Colton and Greg Bradbury
Gateway Group
949-574-3860
WKHS@gateway-grp.com
