Workhorse Group made progress toward scaling its electric truck business, but being shut out of California incentives dented revenue.
During Workhorse’s recent earnings call, CEO Richard Dauch discussed the company’s goals for its last-mile drone delivery program.
Drone delivery reached new heights in 2021, and as a result, there was no shortage of interest in the technology.
To gain public acceptance, drones need to be unobtrusive as much as possible, says veteran aviator and Workhorse Aerospace President John Graber.
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Workhorse Group is perfecting technology for its HorseFly truck-mounted drone that could distinguish it from last-mile delivery competitors.
Interest is rising in Workhorse’s electric truck-based drone delivery system as the company seeks $40 million credit line to scale production.
Lightweight electric van maker expects to build 300-400 units this year as transition to production inches forward while costs remain high amid Q4 revenue of just $3,000.
Workhorse Group signed several partnership deals to leverage its intellectual property in electric trucks and drones in the third quarter while more than doubling its loss of a year ago.
The saga of the closed General Motors Lordstown plant continued with Vice President Mike Pence erroneously declaring that Workhorse Group Inc. had secured funding to buy the plant.
For some customers in the Cincinnati area, their packages are now being dropped on their doorsteps – literally.
