Workhorse falls after wider-than-expected Q4 net loss, production outlook

GreenPower Motor

01/03/2022 14:25

** EV company's shares  WKHS.O  down 1.3% at $3.09 premarket
    ** Co reports Q4 net loss of $156.1 mln compared with
estimates of $20.7 mln, according to 6 analysts polled by
Refinitiv
    ** WKHS says it does not expect to make and sell any
vehicles in the first half of 2022 and sell at least 250
vehicles in the second half of the year  urn:newsml:reuters.com:*:nGNX6xPrsK
    ** Says it will also manufacture 50-75 additional C-1000
vehicles from its current inventory and retire the model
    ** Co said in September it would suspend the deliveries of
its flagship C-1000 electric van to modify vehicles to ensure it
complies with regulatory standards, recalled 41 vehicles
    ** Expects to generate at least $25 million in revenue in
2022
    ** Co signs a multi-year supply agreement with GreenPower
Motor Company  GP.O  to facilitate manufacturing and supply of
delivery vans in North American markets
    ** Up to last close, stock had fallen ~81% in the past 12
months

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