Electric Vehicle Manufacturing Stocks to Consider Feature Entrants Other Than Tesla
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Electric vehicle manufacturing stocks to consider feature industry entrants even more unusual than Tesla (NASDAQ:TSLA) that plan to build and sell a one-seat, three-wheel commuter car, delivery trucks and light duty trucks for commercial fleets.
The electric vehicle manufacturing stocks to consider are focused on serving market niches aimed at offering unique capabilities that larger electric vehicle companies may not target as sharply. However, the competitive road ahead for the entrepreneurial electric vehicle manufacturing stocks to consider require achieving scale, meeting price points customers will pay, creating interstate charging stations and obtaining cost-effective and powerful battery technology to substitute for fuel stations.
Shares of
Workhorse Group (NASDAQ:WKHS) surged 73.5% higher in January, according to data provided by S&P Global Market Intelligence. The electric delivery truck maker started the month with a major order and ended it with investors feeling optimistic an even bigger order might be on the horizon.
So what
Workhorse is one of a generation of start-up vehicle makers trying to electrify the automotive industry. The company is targeting last-mile delivery, making trucks and vans to help get deliveries to their destinations.
Image source: Getty Images.
In early January, the company announced it had received an order for more than 6,000 electric delivery vans from Pride Group Enterprises. That s considerably more than the 1,800 vehicles Workhorse is gearing up to make in all of 2021. Pride Group intends to take deliveries beginning in 2021 and running through 2026, meaning the order provides a solid pipeline of sales and revenue to help Workhorse build its business.
January 19, 2021
Volvo Trucks North America announced the commercial introduction and sales start of its zero tailpipe emission, battery-electric vehicle to the North American market, with a production start of early 2021. Image courtesy of Volvo Trucks North America
2021 is shaping up to be a pivotal year for the electric vehicle. While this is true across weight classes and duty cycles, perhaps none are better positioned for growth than trucks. To be sure, 2020 saw a number of exciting announcements from manufacturers eager to electrify heavy-duty big rigs, semi-trucks, box trucks, delivery vans and additional freight vehicles. And 2021 is primed to take many of these announcements from the planning stages to fruition (as our friends at GreenBiz have covered here). In many ways, 2021 is expected to be the year that electric trucks shift from demonstration to deployment.
Photo Credit: Workhorse Group Inc.
Workhorse Group Inc., (Loveland, Ohio, U.S.) a technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, announced on Jan. 4 that it has received a purchase order for 6,320 of its C-Series all-electric delivery vehicles which are built with composite bodies from Pride Group Enterprises (Ontario, Canada) a privately-held company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. The order is split between Workhorse’s C-1000 and C-650 models and is subject to various production and delivery conditions.
Inventory financing is being provided by Hitachi Capital America (HCA) as part of Workhorses’ previously announced strategic partnership with the company. Initial delivery of the vehicles may begin by July 2021 and will run through 2026. The delivered vehicles will be distributed through Pride dealerships for flee