Workhorse Group Receives First Fleet Order For W56 Step Van; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Workhorse Group Inc. (WKHS) has received its first fleet order for the W56 step van from Mission Linen Supply. The order consists of 15 vehicles expected to be delivered in 2024. The W56 is a zero emission delivery work van designed for high reliability and serviceability, with a payload capacity of up to 10,000 pounds and a range of up to 150 miles. Workhorse CEO Rick Dauch highlighted the milestone in commercializing their Class 5/6 vehicle, and Mission Linen Supply praised the van's performance in field tests.
December 20, 2023 | 1:32 pm
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POSITIVE IMPACT
Workhorse Group's first fleet order for the W56 step van from Mission Linen Supply is a positive development, indicating progress in product commercialization and potential revenue growth.
The news of a first fleet order for Workhorse Group's W56 step van is likely to be viewed positively by investors as it demonstrates both product validation and a step towards future revenue. The order from Mission Linen Supply suggests confidence in Workhorse's product and may lead to further orders as the market for zero emission commercial vehicles grows. The delivery in 2024 indicates a longer-term revenue stream, but the announcement itself could positively influence investor sentiment in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100