Workhorse Receives Purchase Order from Pride Group Enterprises for 6,320 C-Series All-Electric Delivery Vehicles
CINCINNATI, Jan. 04, 2021
” or “the Company”
), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced that it has received a purchase order for 6,320 C-Series all-electric delivery vehicles from
Group Enterprises (“Pride”), a premier Canadian and U.S. based, 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 (“Hitachi Capital America” or “HCA”) as part of the Company’s
Workhorse starts the year 2021 with a splash, thanks to its largest so far order for 6,320 C-Series electric delivery vehicles - both C-1000 and C-650 models.
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WKHS Stock News: Workhorse Group Inc continues to rise on news of a new partnership with Pride GroupNEWS |
1/6/2021 11:04:57 AM GMT | By Stocks Reporter
NASDAQ:WKHS gained 4.72% on Tuesday amidst a broader market rally.
Pride Group Enterprises orders 6,320 C-Series vehicles from Workhorse.
Initial deliveries will begin in July of 2021 and continue through 2026.
NASDAQ:WKHS has started the year off on the right foot as the stock is now up over 13% from its closing price on the last day of 2020.
On Tuesday, shares continued to rise as Workhorse added a further 4.72% to close the trading session at a price level of $22.43. The stock was a popular one amongst retail investors in 2020, as Workhorse managed to grow from a penny stock offering to a legitimate last-mile delivery competitor in the electric vehicle sector. This momentum has now carried into 2021, as a new catalyst has sparked interest in the Ohio-based company.
Workhorse receives purchase order from Pride Group Enterprises for 6,320 C-Series electric delivery vehicles
Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a 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 Workhorse’s previously announced strategic partnership with HCA. 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 fleet use.