Workhorse signs multi-year supply deal for cab, chassis

GreenPower Motor

01/03/2022 16:16

(Updates)
    ** Shares of EV co  WKHS.O  up 7.3% at $3.36 - set for its
best day in nine sessions
    ** Co signs multi-year supply agreement with GreenPower
Motor Co  GP.O  to facilitate manufacturing and supply of
delivery vans in North American markets
    ** Under deal, GreenPower will deliver 1,500 EV Star cabs
and chassis to help WKHS make its W750 model of step vans
    ** Reports Q4 net loss of $156.1 mln, compared with
estimates of $20.7 mln, according to six analysts polled by
Refinitiv
    ** WKHS says it does not expect to make and sell any
vehicles in H1 of 2022 and sell at least 250 vehicles in H2
 urn:newsml:reuters.com:*:nGNX6xPrsK
    ** Says it will also manufacture 50-75 additional C-1000
vehicles from its current inventory and retire the model
    ** WKHS said in September it would suspend the deliveries of
its flagship C-1000 electric van to modify the vehicle to ensure
it complies with regulatory standards, recalled 41 vehicles
    ** Up to last close, stock had fallen ~81% in the past 12
months

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))