GreenPower Completes First Deliveries of EV Star Cab and Chassis to Workhorse
GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero-emission, electric-powered, medium and heavy-duty vehicles, today announced the delivery of the first tranche of EV Star Cab and Chassis (EV Star CC) to Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse") for the Production of Workhorse's New Class 4 W750 Step Van Line.
On March 1st, 2022 GreenPower and Workhouse announced a multi-year supply agreement to facilitate the manufacturing and delivery of medium-duty Class 4 step vans into the North American market. Under the terms of the agreement, the companies committed to a 21-month schedule during which GreenPower will deliver 1,500 EV Star cab and chassis to Workhorse starting in July 2022 through to March 2024. The chassis are to be used in the production of Workhorse's new Class 4 W750 step van line, which is slated to enter production later this year. The W750 will feature up to 150 miles of all-electric range, with a payload capacity of 5,000 lbs., as well as standard 60 kW DC fast-charging and optional 60 kW wireless-charging capabilities.
"We have been collaborating with Workhorse for nearly a year on the co-development of zero-emission commercial vehicles with the integration of our EV Star CC for Workhorse's W750," said Brendan Riley, President of GreenPower. "Today's announcement is a strategic milestone for both companies against our shared commitment of building safe, reliable commercial EVs. Our third quarter deliveries are well underway, with the first eight EV Star CCs delivered to Workhorse in July and another shipment of eight being delivered in early August. We look forward to rapidly scaling up deliveries over the next few quarters to support Workhorse's production requirements to meet customer demand."
Workhorse will complete the manufacturing process and deliver finished step vans to its customers in the United States and Canada. The agreement includes deposits based on delivery thresholds and also contains a renewal option.
GreenPower'sEV Star Cab and Chassisis a purpose-built multi-utility zero-emissions vehicle with a battery pack of 118 kWh providing a payload of 7,000 pounds and a range of 150 miles. GreenPower's EV Star Cab and Chassis accommodates a wide variety of mid and last-mile delivery needs while maintaining the benefits of being a zero-emission vehicle.
Workhorse has the exclusive rights in the U.S. and Canada to sell Class 4 step vans based on the GreenPower-supplied base vehicle. The finished Class 4 step vans will be available under the Workhorse brand with Workhorse after-sales and support service.