Workhorse Expands Product Lineup with 140 kWh Version of Popular W56 Step Van
MWN-AI** Summary
Workhorse Group Inc. has announced the launch of a new version of its popular W56 Step Van, now available with a 140 kWh battery configuration. This new model is engineered specifically for in-city, last-mile package delivery, featuring an estimated range of 100 miles per charge at full payload. Priced starting at $169,000, the W56 aims to offer a more affordable solution for companies looking to diversify their fleets amidst rising fuel costs.
The introduction of this model responds to customer feedback, allowing fleet operators to better manage their operational expenses. The 178" wheelbase provides 1,000 cubic feet of cargo space and a payload capability of 11,000 lbs, while the extended 208" wheelbase offers similar cargo space but with a payload of 10,000 lbs. This flexibility is particularly beneficial for independent service providers (ISPs) operating routes for major logistics companies like FedEx.
The timing of the release is crucial, as oil prices have soared past $100, prompting many fleet operators to consider alternatives to traditional gasoline and diesel vehicles. According to CEO Scott Griffith, transitioning to electric trucks can mitigate the impact of fuel price volatility. Electric rates are typically lower and less susceptible to global market fluctuations, making electric vehicles a practical hedge against rising gasoline and diesel costs.
This new offering is a product of synergies gained from Workhorse’s recent merger with Motiv Electric Trucks, which is expected to enhance production efficiency and cost-effectiveness. By integrating both 140 kWh and 210 kWh models, fleets can optimize performance across various delivery routes. The W56 is produced at Workhorse's Union City, Indiana facility, which has the capacity to manufacture over 5,000 vehicles annually.
MWN-AI** Analysis
Workhorse Group Inc. (NASDAQ: WKHS) recently announced the expansion of its W56 Step Van lineup with a new 140 kWh model tailored for in-city last-mile delivery. Priced at $169,000, the new configuration combines affordability with functionality, featuring a 100-mile range that is well-aligned with the operational needs of many fleet operators.
This strategic move comes at a pivotal time as oil prices surge, significantly impacting the operating costs of traditional delivery methods. With rising fuel costs being a primary concern for fleet operators, the launch of the W56 provides a compelling opportunity for companies to diversify their fleets and mitigate the financial burden of fluctuating gas prices. For context, analysts project that high oil prices could persist, making electric vehicles a more appealing alternative for fleet management.
The W56's competitive specifications—1,000 cubic feet of cargo space and robust payload capabilities—coupled with its lower energy costs, position it as a viable option amidst increasing fuel expenditures. Workhorse's consolidation through its merger with Motiv Electric Trucks presents the potential for enhanced production efficiencies, which may further drive down costs and improve delivery timelines, thereby creating added value for consumers.
With customers already expressing satisfaction over the practicality of the 100-mile range for their operational needs, the new 140 kWh model addresses a clear gap in the market. Fleet operators can now optimize their delivery routes using a mixture of the 140 kWh and the larger 210 kWh configurations, potentially improving their overall operational efficiency while protecting against rising fuel volatility.
Investors considering Workhorse should keep an eye on production scaling and cost management strategies post-merger, as these factors will be critical in determining the company's ability to sustain growth in an evolving electric vehicle landscape. Overall, Workhorse's latest offering could be a strong buy for investors looking to capitalize on the shift toward electrification in commercial fleets.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
- New configuration purpose-built for the needs of in-city, last-mile package delivery
- Lower entry price combined with 100-mile range offers more affordable option for companies seeking to diversify fleets as a hedge against rising fuel prices
DETROIT, March 25, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”), a North American OEM and provider of all-electric trucks, step vans, shuttles and buses, today announced the availability of a new W56 Step Van model with a 140 kWh battery. The new model is based on the same platform as the 210 kWh Workhorse W56 step van, which is renowned for its spacious cargo, ergonomic design, reliability and durability and comes in two wheelbases (Standard and Extended).
W56 step vans with the Standard Wheelbase and 140 kWh configuration offer an estimated nominal range of 100 miles per charge at full payload. Pricing begins at $169,000 which includes a fully-integrated, purpose-built composite body. Because Workhorse produces the W56 fully on site, it has greater control of the process which can result in lower costs and more predictable delivery timelines.
The Standard 178" Wheelbase offers 1,000 cubic feet of cargo space and a payload of 11,000 lbs., making it ideal for many last-mile delivery needs. The Expanded 208" Wheelbase offers 1,000 cubic feet of cargo space and 10,000 lbs., making it perfect for larger loads with the added benefit of enhanced stability for efficient operations.
“The new 140 kWh version of our W56 step van is a result of listening to customer feedback and purpose-building a product to meet their needs,” said Scott Griffith, CEO of Workhorse. “We’ve been able to balance the functional needs of fleets – range, durability, reliability and performance – with a lower entry price to offer a ‘no-compromise’ electric truck.”
Fleet operators, (such as the network of independent service providers (ISPs) operating FedEx Ground routes, including Stables by Workhorse, an ISP that is owned and operated by Workhorse), have consistently reported that 100 miles of daily range substantially exceeds their needs for many of their routes. They’ve stated that a more appropriately sized battery pack at a lower price point would strengthen the business case for electrification.
The timing of today’s announcement comes as oil prices have surged — exceeding $100 at their recent peak1 — following geopolitical disruptions in the Middle East. Analysts at Goldman Sachs have warned that triple-digit oil could become a structural reality for years to come2. For fleet operators of any size, fuel is often the second-largest operating expense after the cost/depreciation of the vehicle itself3.
“Commercial ground fleets have similar exposure to spikes in fuel prices as airlines, and the launch of this new model offers fleets a no-compromise option to control costs while still ensuring efficient operations,” said Scott Griffith, CEO of Workhorse. “Because electricity costs are low, local, and more immune to global oil shocks, we believe every electric truck in a mixed fleet can act as a buffer against the volatility that is once again hammering operators who run entirely on gasoline and diesel.”
The new model and pricing are a result of the initial synergies realized through Workhorse’s December 2025 merger with Motiv Electric Trucks, as the combined company works to drive down production costs through economies of scale as well as operational and supply chain efficiencies. Fleets now have new options as they seek to reduce overall operating costs and hedge against the volatility of gas prices. ISPs can now operate a blend of 140 kWh and 210 kWh configurations of the Workhorse W56 to optimize performance among the mix of shorter and longer routes they serve daily.
The W56 is currently in production at Workhorse’s commercial-scale manufacturing facility in Union City, Indiana, which is capable of producing up to 5,000+ vehicles per year on a single operating shift. Workhorse sells its vehicles through a national dealer network, with post-sale support bolstered by regionally deployed Workhorse-trained technicians.
About Workhorse Group Inc.
Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is redefining what a medium-duty truck should be. Workhorse builds software-first, electric trucks, shuttles and buses that are powerful, cost-efficient, reliable, safe and comfortable — all with zero tailpipe emissions. Our deep experience building electric vehicles at scale drives intentional innovations designed to help customers lower operating costs, improve fleet performance, enhance the driver experience, and maximize uptime without compromise. More information is available at www.workhorse.com.
Media Relations Contact:
Workhorse
John Williams, Communications
+1-206-660-5503, john.williams@workhorse.com
ICR, Inc.,
workhorse@icrinc.com
Investor Relations Contact:
ir@workhorse.com
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release, including, among other things, statements regarding future events, plans and anticipated results of operations, business strategies, the anticipated benefits of the Motiv/Workhorse merger, the anticipated impact of the Workhorse/Motiv merger on the combined company’s business and future financial and operating results, the expected amount and timing of synergies from the Workhorse/Motiv merger and other aspects of either company’s operations or operating results are forward-looking statements. Some of these statements may be identified by the use of the words “plans”, “expects” or “does not expect”, “estimated”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “targets”, “projects”, “contemplates”, “predicts”, “potential”, “continue”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “will” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are based on the opinions and estimates of management of Workhorse as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some factors that could cause actual results to differ include our ability to achieve the expected synergies and/or efficiencies from our operations and as a result of the Motiv/Workhorse merger; the effect of the announcement of the Motiv/Workhorse merger on the ability of the parties to operate their businesses and retain and hire key personnel and to maintain favorable business relationships; the possibility that the integration of the parties may be more difficult, time-consuming or costly than expected or that operating costs and business disruptions may be greater than expected; the risk that the price of our securities may be volatile due to a variety of factors; changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business; and our ability to maintain compliance with Nasdaq rules and otherwise maintain our listing of securities on Nasdaq.
Additional information on these and other factors that may cause actual results and Workhorse’s performance to differ materially is included in Workhorse’s periodic reports filed with the SEC, including, but not limited to, Workhorse’s Annual Report on Form 10-K for the year ended December 31, 2024, including those factors described under the heading “Risk Factors” therein, and Workhorse’s subsequent Quarterly Reports on Form 10-Q. Copies of Workhorse’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Workhorse. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and Workhorse undertakes no obligations to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
1 https://qz.com/brent-crude-oil-prices-wti-iran-war-energy-attacks-south-pars
2 https://www.cnn.com/2026/03/20/energy/oil-gas-prices-intl-hnk
3 https://www.automotive-fleet.com/346725/containing-fuel-spend-is-a-top-fleet-focus-despite-price-stability
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e7d2a6f4-92e1-44f6-817b-94364a951e49
FAQ**
How does Workhorse Group Inc. WKHS plan to ensure that the new W56 Step Van model maintains competitive performance metrics in comparison to other electric trucks in the market?
What strategies does Workhorse Group Inc. WKHS have in place to mitigate risks associated with rising material costs and supply chain disruptions affecting their manufacturing process?
Given the volatile oil market, how does Workhorse Group Inc. WKHS anticipate the demand for their electrified fleet to evolve over the next few years among commercial fleet operators?
How does the merger with Motiv Electric Trucks enhance Workhorse Group Inc. WKHS's capacity to achieve economies of scale and operational efficiencies as they scale up production of their new W56 model?
**MWN-AI FAQ is based on asking OpenAI questions about Workhorse Group Inc. (NASDAQ: WKHS).
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