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Workhorse and GreenPower Sign Supply Agreement for Delivery of 1,500 GreenPower EV Star Cab and Chassis for Workhorse W750 Step Vans
CINCINNATI and VANCOUVER, British Columbia, March 01, 2022 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS)(“Workhorse”), an American technology
About this update from Workhorse Group, Inc.
[{"type":"text","content":"CINCINNATI and VANCOUVER, British Columbia, March 01, 2022 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS)(“Workhorse”), an American technology company focused on providing sustainable and cost-effective electric vehicles to the last-mile delivery sector, and GreenPower Motor Company Inc. (NASDAQ: GP, TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of zero-emission electric-powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced the signing of a multi-year supply agreement to facilitate the manufacturing and delivery of medium-duty Class 4 step vans into the North American market. Under the terms of the agreement, the companies have confirmed a 21-month schedule during which GreenPower will deliver 1,500 EV Star cab and chassis to Workhorse starting in July 2022. The chassis are to be used in the production of Workhorse’s new Class 4 W750 step van line, which is slated to enter production in Q3 2022. Workhorse will complete the manufacturing process and deliver finished step vans to its customers in the United States and Canada. The agreement includes deposits based on delivery thresholds and also contains a renewal option. Workhorse will have exclusive rights in the U.S. and Canada to sell Class 4 step vans based on the GreenPower-supplied base vehicle. The finished Class 4 step vans will be available under the Workhorse brand with Workhorse after-sales and support service. The W750 will feature up to 150 miles of all-electric range, with a payload capacity of 5,000 lbs., as well as standard 60kW DC fast-charging and optional 60 kW wireless-charging capabilities. “Workhorse is delivering on our commitment to pioneer the transition to zero-emission commercial vehicles by developing and building safe, reliable and versatile electric commercial delivery vehicles,” said Workhorse CEO Rick Dauch. “Our partnership with GreenPower is a crucial step in a multi-pronged effort to redefine our product portfolio. The Class 4 W750, alongside our legacy Class 3 C-1000 and W56 platform launching in 2023, will enable Workhorse to address the entire Class 3-6 commercial vehicle market. I am very pleased to have reached this important agreement, and we look forward to working closely with the GreenPower team to make the first truck deliveries from our Union City, Indiana...