Inventory financing is being provided by HCA with initial delivery of the vehicles tentatively scheduled to begin by July 2021 and running through 2026. based, privately held company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. January 2021: Received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a premier Canadian and U.S.Senior Director of Advanced Vehicle Technology & Energy Products Chris Nordh as VP of Commercial Development, a newly created role designed to augment and expand Workhorse’s sales and support infrastructure. February 2021: Appointed former Ryder System Inc.The event was designed to highlight the value of electric vehicle (“EVs”) and educate the broader market on the benefits of going EV. February 2021: Launched Purpose Built National Campaign Event with Pritchard Companies featuring the C-1000 all-electric truck on Super Bowl weekend in Tampa, Florida. While we focus on our near term targets we are preparing the Company for quality needed in the scaling forecasted in our multi-year growth plan.”įourth Quarter 2020 and Recent Operational Highlights We are currently faced with various supply chain challenges, both internal and external, in the ramp-up to our stretch production goal for 2021. Our management team and expanded production workforce are continuing to collaborate closely with our strategic partners, Hitachi and Belcan. Counting over $200 million of cash on our balance sheet, we are well capitalized to expand our manufacturing throughput, and with over 8,000 vehicles in our backlog, we now have the order book to reliably build for our multi-year growth plan. “We’re entering the new year in our strongest-ever position, both financially and operationally. “The past twelve months have been a remarkable period for our company and for the world at large,” said Workhorse CEO Duane Hughes. (Nasdaq: RIDE) valued at nearly $320 million based on the February 26 th closing price.
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