Workhorse Group
Wixom, Michigan, United States · Automotive, Logistics, Manufacturing
Workhorse is a technology company focused on providing ground and air-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks and drones. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet
Key facts
- Headquarters
- Wixom, Michigan, United States
- Employees
- 150
- Industries
- Automotive, Logistics, Manufacturing
- Status
- Public (WKHS)
- Website
- workhorse.com
- Company page
Recent activity at Workhorse Group
- : SEC 8-K (1.01): On October 27, 2026, Workhorse Group Inc. entered into Amendment No. 4 to its Cash Flow Credit Agreement and Amendment No. 3 to the Customer Order Credit Agreement, collectively known as the Amendments. These amendments increased the commitment under the Customer Order Credit Agreement from $20 million to $30 million and deferred interest payments on the additional $10 million loan until after March 31, 2027. Additionally, the Cash Flow Credit Agreement was amended to defer interest payments on various loans made in prior amendments until after the same date. This strategic move is aimed at easing the financial burden on Workhorse as it navigates its cash flow management amid ongoing business operations.
- : Workhorse Partners with Rhaelm to Commercialize TerraPod Modular Data Center Platform.
- : SEC 8-K (1.01): On October 28, 2026, Workhorse Group Inc. entered into a Manufacturing Spec Unit Purchase Agreement (MSPA) with Rhaelm Holdings Limited for a total payment of $10,000,000 over three installments. This agreement aims to facilitate the construction of a full-scale TerraPod manufacturing spec unit at Workhorse's facility in Union City, Indiana. The strategic importance of this development is significant as it represents an investment in sovereign AI infrastructure, which may impact Workhorse's future manufacturing capabilities. The agreement is detailed in Exhibit 10.1 attached to the filing.
- : SEC 8-K (5.02):
- : SEC 8-K (1.01): On August 11, 2026, Workhorse Group Inc. entered into Amendment No. 3 to its Cash Flow Credit Agreement, increasing the commitment from $30 million to $40 million. This amendment defers interest payments on an additional $10 million loan until after January 31, 2027 and obligates the company to issue warrants to purchase 1.5 million shares of its Common Stock at an exercise price of $10.00 per share. The warrants are immediately exercisable for five years following the company's compliance with Nasdaq notification requirements. This strategic financial move is significant for managing liquidity and provides potential capital influx through the issuance of warrants.
- : SEC 8-K (7.01): On July 28, 2026, Workhorse Group Inc. announced a proposed mobile AI data center initiative through a press release. This initiative aims to leverage artificial intelligence technologies to enhance the company's data processing and operational capabilities. The announcement highlights the company's strategic shift towards integrating advanced technology in its operations, signaling potential future growth and innovation opportunities. The specifics regarding the investment amounts or detailed strategies are included in the accompanying exhibit, which was furnished with the filing.
- : SEC 8-K (7.01): On July 28, 2026, Workhorse Group Inc. announced a proposed mobile AI data center initiative through a press release. This initiative signifies a strategic shift for the Company, aiming to expand its product line into new markets such as containerized data centers and edge computing. The press release outlines forward-looking statements regarding the expected production, delivery dates, and the potential revenue generation from this new line, which is critical for supporting the Company's ongoing cost reduction efforts for its electric trucks. The information is furnished as Exhibit 99.1 to this 8-K and emphasizes the Company's strategic plans and operational objectives moving forward.
- : SEC 8-K (5.02): On July 20, 2026, the Human Resource Management and Compensation Committee of Workhorse Group Inc. approved the Company Short-Term Incentive Plan (STIP) effective from January 1, 2026. This plan is designed to motivate and reward the company's principal executive officer, principal financial officer, and other applicable named executive officers by linking a portion of their cash compensation to the achievement of performance goals. The initial performance metrics for the 2026 fiscal year focus on adjusted EBITDA and revenue, each contributing equally at 50% to the targets. Targets for the Chief Executive Officer, Chief Financial Officer, and Executive Vice President are set at 50% of their annual base salaries, with actual payouts varying from 0% to 150% based on performance. The Committee retains the flexibility to modify the plan's conditions, including target payouts and performance criteria, making this a significant management compensation adjustment.
- : Workhorse Appoints Davis as Chief Financial Officer
- : Workhorse Group Appoints Jody Davis as Chief Financial Officer
Workhorse Group funding history
| Date | Round | Amount |
|---|---|---|
| Oct 2020 | Venture | $200.0M |
| May 2018 | Seed | $1.4M |
| Nov 2015 | Venture | $8.8M |
| Sep 2015 | Seed | $1.1M |
Leadership
- Michael Gray, Director of Production Control & Logistics
- Duane Hughes, Executive Officer, Director
- Raymond Chess, Director
- Harry DeMott, Director
- Benjamin Samuels, Director
- Gerald Budde, Director
- Pamela Mader, Director
- Jacqueline Dedo, Director
- Michael Clark, Director
- H. Samuels, Director
Verified email and direct lines for Workhorse Group’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Workhorse Group in the news
- Workhorse Group Reports First Quarter 2026 Results - Yahoo Finance (May 14, 2026)
- Workhorse Partners with Tristan Fleet Management to Sell and Service All-electric W56 Step Vans in Canada - GlobeNewswire (Oct 22, 2026)
- Workhorse Appoints Jody Davis as Chief Financial Officer - citybiz (Jul 13, 2026)
- Tesla, Schmesla: Let’s Talk About Workhorse Electric Trucks - CleanTechnica (Mar 16, 2026)
- Workhorse Group Sets Date for First Quarter Earnings Release and Conference Call - Yahoo Finance (Apr 29, 2026)
- Workhorse Group Inc. Partners with InCharge Energy to Enhance Customer Support for Electric Fleet Operations - Quiver Quantitative (May 06, 2026)
- Workhorse and Gateway Fleets Build on Fleet Operator Momentum with 200-Truck Expansion - GlobeNewswire (Sep 30, 2026)
- Introducing Gemini 3.7 Flash - blog.google (Aug 13, 2026)
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About Workhorse Group: questions and answers
What does Workhorse Group do?
Workhorse is a technology company focused on providing ground and air-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks and drones. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet
Where is Workhorse Group headquartered?
Workhorse Group is headquartered in Wixom, Michigan, United States.
How many employees does Workhorse Group have?
Workhorse Group has about 150 employees.
Has Workhorse Group raised funding?
Yes. Fundz has recorded 4 funding events for Workhorse Group. The most recent, $200.0M, was in Oct 2020.
What is the latest news on Workhorse Group?
On Nov 02, 2026, SEC 8-K (1.01): On October 27, 2026, Workhorse Group Inc. entered into Amendment No. 4 to its Cash Flow Credit Agreement and Amendment No. 3 to the Customer Order Credit Agreement, collectively known as the Amendments. These amendments increased the commitment under the Customer Order Credit Agreeme
Is Workhorse Group a public company?
Yes. Workhorse Group is publicly traded under the ticker WKHS.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy