Workhorse Group

What Workhorse Group does

Workhorse Group, Inc. (NASDAQ: WKHS) is a North American manufacturer of medium-duty all-electric commercial vehicles targeting Class 4-6 fleet applications. Headquartered in Wixom, Michigan, with a 400,000+ square foot manufacturing facility in Union City, Indiana capable of producing 5,000+ vehicles annually (scalable to 10,000), the company's product portfolio centers on the W56 Step Van platform (Class 5/6, with 140 kWh or 210 kWh battery configurations, up to 150-mile range, and 9,000-11,000 lb payload) and the EPIC4 family (Class 4 shuttle bus, school bus, box truck, and work truck) acquired through the December 2025 merger with Motiv Electric Trucks. Workhorse also markets the W4 CC work truck and W750 step van, alongside proprietary Workhorse Connect telematics (500+ data points per vehicle updated every ten seconds) and Stables by Workhorse charging and maintenance infrastructure.

The company generates revenue primarily through one-time hardware sales of electric vehicles at prices ranging from $169,000 (W56 140 kWh) to $265,000 (W56 210 kWh full configuration), with promotional pricing through September 2026. Distribution is multi-channel: a certified North American dealer network (Ziegler, Kingsburg, Hudson County Motors, EV Choice, National Auto Fleet Group, The Truck Shop), direct enterprise sales to large fleets (Purolator, FedEx, Gateway Fleets, Alsco, Cintas, Aramark), and government cooperative purchasing contracts (Sourcewell, GSA Fleet, OMNIA Partners, California DGS, Canoe Canada). Financing partners (Doering Fleet Management, Mitsubishi HC Capital America) support fleet leasing economics. Target segments are last-mile delivery fleets, commercial fleet operators in vocational trades, government and public sector buyers, and emerging fleet-as-a-service operators, with the company positioning against an estimated $23 billion medium-duty EV market.

Post-merger integration is central to Workhorse's current operating posture: the combined entity targets approximately $20 million in annualized cost synergies by end of 2026, expanded production capacity, a broadened vehicle portfolio, and a stated profitability target around 2028. The leadership team, led by CEO Scott Griffith (former Motiv CEO), combines automotive, EV, and mobility experience. Workhorse reports cumulative fleet performance of 20M+ electric miles across 1,100+ deployed vehicles, displacing 2.3 million gallons of gasoline and eliminating 45 million pounds of CO2 emissions, with documented customer outcomes of 64% lower operating costs versus ICE vehicles and up to 65% fuel cost savings.

Name

Workhorse Group

Legal name

Workhorse Group, Inc.

Website

https://workhorse.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Workhorse Group manufactures medium-duty all-electric commercial vehicles (Class 4-6), including the W56 Step Van and EPIC4 platform, serving last-mile delivery fleets, commercial operators, and government buyers across North America through dealers, cooperative purchasing, and direct enterprise sales.

Ownership category

akta.pro rank

Headquarters

HQ city

Loveland

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Electric Vehicle Sales: Workhorse generates revenue primarily from the sale of medium-duty electric trucks, step vans, shuttles, and buses. Vehicles include W56 Step Van (Class 5/6), W4 CC work truck (Class 4), and EPIC4 platform vehicles.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Workhorse Group manufactures and sells medium-duty all-electric commercial vehicles (Class 4-6), including the W56 Step Van, EPIC4 family of shuttle buses, school buses, box trucks, and work trucks, plus the W4 CC and W750 platforms. Vehicles are purpose-built for last-mile delivery, vocational trades, and fleet electrification, supported by the Workhorse Connect telematics platform and Stables by Workhorse charging and maintenance infrastructure.

Product overview

Workhorse Group is a North American manufacturer of medium-duty all-electric commercial vehicles and trucks (Classes 4-6). The product portfolio centers on the W56 Step Van platform (Class 5/6) available in standard and extended wheelbase configurations, plus the EPIC4 series (Shuttle Bus, School Bus, Box Truck, Work Truck) acquired through the December 2025 merger with Motiv Electric Trucks. The W4 CC and W750 round out the Class 4 range. The company also offers proprietary telematics (Workhorse Connect) and charging/service infrastructure (Stables by Workhorse). Products are manufactured at the Union City, Indiana facility with capacity of 5,000+ vehicles annually. The portfolio targets last-mile delivery, vocational trades, and fleet electrification with vehicles supporting Level 2 and Level 3 charging.

Differentiator

Problem solved

Functional benefit

Brands

• Stables by Workhorse: Charging and service hub for commercial EVs, providing turnkey fleet maintenance and charging infrastructure solutions, including operating FedEx Ground delivery operations in Ohio
• Workhorse Ranch
• Workhorse Connect
• W56
• EPIC4

Products and services

• W56 Step Van

Quantifiable outcome

• 64% lower operating costs vs. internal combustion engine vehicles
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• InCharge EnergycoreStrategic or Co-development Partner · 6 May 2026Partnership announced May 6, 2026 for integrated customer support program across North America. InCharge provides field technicians, Support Operations Center, and software platform powering Workhorse's single-point customer support for vehicles, charging infrastructure, electrical systems, and third-party hardware/software. Launch expected Q4 2026.
• Kingsburg Truck CentermajorChannel Partner/ Reseller/ Distributor · 30 April 2026California-based commercial truck dealer facilitating Gateway Fleets 100-vehicle W56 order. Authorized dealer providing flexible leasing arrangements for fleet operators to access electric trucks without large upfront capital expenditures.
• Motiv Electric TruckscoreStrategic or Co-development Partner · 15 December 2025Merger completed December 15, 2025, combining Workhorse Group and Motiv Electric Trucks to create a leading North American medium-duty electric truck OEM. Transaction valued at approximately $105 million, securing up to $50 million in debt financing. Combined entity benefits from 20+ million miles of operational experience and expanded production capacity.
• Doering Fleet ManagementminorChannel Partner/ Reseller/ Distributor · 25 November 2025Fleet leasing partner offering flexible financing options for Workhorse vehicles through OMNIA Partners cooperative purchasing program for state and local governments.
• Ziegler Truck GroupmajorChannel Partner/ Reseller/ Distributor · 13 May 2025Expansion of partnership adding Range Truck Group in Fife, Washington and a third Ziegler location in DeForest, Wisconsin. New dealers provide access to Workhorse's Class 4-6 all-electric work trucks, enhancing presence in Pacific Northwest and Midwest regions with HVIP incentive access.
• The Truck ShopminorChannel Partner/ Reseller/ Distributor · 13 February 2025Pacific Northwest dealer facilitating first Workhorse sale in the region through certified dealer and Sourcewell cooperative purchasing. Washington municipality ordered two W4 CC electric work trucks for trash and recycling operations.
• SurefittersmajorChannel Partner/ Reseller/ Distributor · 1 June 2024Partnership with truck and van upfitter based in Rosemount, MN launched June 2024 with 13 pre-configured upfit packages for Workhorse's medium-duty EVs. Partnership offers ship-thru solutions enabling turn-key vehicles with consistent quality and volume discounts through national upfitter network.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Rivian: US-based electric vehicle maker that builds the EDV electric delivery van for Amazon and other commercial fleets. Direct overlap with Workhorse's medium-duty delivery van segment and similar last-mile fleet target customer.
• Xos Trucks: Manufacturer of medium- and heavy-duty battery-electric trucks (Class 5-8) targeting last-mile delivery, logistics, and vocational fleets. Competes directly with Workhorse in medium-duty commercial EV.
• BrightDrop (General Motors): GM's electric last-mile delivery unit offering the Zevo electric vans to commercial customers including FedEx. Direct competitor to Workhorse's W56 in the medium-duty electric step van / delivery van category.
• Lightning eMotors: Specialty EV maker focused on medium-duty electric commercial vehicles, shuttle buses, and ambulances via fleet upfit programs. Closely aligned with Workhorse on Class 4-6 commercial EV use cases.
• Lion Electric: Canadian manufacturer of medium- and heavy-duty electric trucks and electric school buses (LionC, LionD, LionA). Direct overlap with Workhorse's EPIC4 school bus and W56 step van / work truck offerings.

Emerging players

• Bollinger Motors: US-based EV startup developing Class 4-6 commercial vehicles (B4, B3 chassis cab). Competes with Workhorse in medium-duty electric work truck and chassis-cab segments.
• GreenPower Motor Company: EV bus and truck manufacturer offering the EV Star and cargo van platforms targeting shuttle, school bus, and delivery segments with overlap to Workhorse's EPIC4 line.
• Hyzon Motors: Developer of hydrogen and battery-electric medium- and heavy-duty commercial vehicles, including Class 4-7 trucks. Adjacent competitor to Workhorse in commercial fleet decarbonization.

Broad incumbents

• Daimler Truck / Freightliner eM2: Global commercial truck OEM with battery-electric medium-duty eM2 and eCascadia models. Competes broadly with Workhorse in commercial EV truck segments from an established OEM base.
• Ford Pro (Ford E-Transit): Ford's commercial fleet business offering the E-Transit electric van alongside a broad ICE commercial lineup. Competes with Workhorse in the light/medium commercial EV space but from a much larger OEM platform with established dealer/service footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/workhorse_group
• YouTubeyoutube.com/@WorkhorseTechnologies
• Facebookfacebook.com/workhorsetechnologies
• LinkedInlinkedin.com/company/workhorsetechnologies
• Instagraminstagram.com/workhorse_group

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds11 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Workhorse Group