Workhorse Group claims business progress, but it needs approval for new shares to raise capital to make electric trucks and drones.
Losers among transportation startups are rapidly being defined, It will take longer to determine the winners.
Nikola has a minimum of 180 days to get its share price above $1 or it could be delisted from the Nasdaq.
Lordstown Motors dodged delisting from the Nasdaq by a reverse stock split, but its future remains murky.
The Lordstown Motors Endurance electric pickup was delayed, subject to cost overruns and now faces a safety recall.
Lordstown Motors received final approvals to ship its battery-electric pickup truck to customers, overcoming doubt about its viability.
The federal government made SPAC-sponsored Nikola founder Trevor Milton an example of corporate greed. Will others follow?
Shareholder letters and earnings call transcripts don’t qualify as page-turning vacation reading. But they say a lot.
Layoffs get the attention but plenty of electric transportation startups are still hiring. They are getting creative with fundraising, too.
Australia’s Tritium is making a charge in U.S. market with a move into direct current fast charging for electric trucks.
Lordstown Motors lives to fight another day with the $230 million sale of the plant it basically got for free from General Motors.
Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.
Veteran automotive executive Ed Hightower is trying to bring the Lordstown Endurance electric pickup truck to market despite myriad setbacks.
Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.
Lordstown Motors is sticking to planned production of the Endurance electric pickup truck in Q3, but a shortage of cash makes the plan uncertain.
Top executives resigned at ELMS Inc. following a board probe into their discounted stock purchases before a SPAC merger.
Suspending electric van production, converting debt to equity and reducing cash burn are among the new CEO’s early moves at the troubled Workhorse Group.
Truck Talk is a weekly FreightWaves newsletter providing perspec on autonomous, electrification and other key issues in the trucking ecosystem.
Taiwan’s Foxconn would manufacture Lordstown Motors’ Endurance electric pickup truck under an agreement to buy the former GM assembly complex.
New CEO continues remaking executive team, with the chief financial officer and chief operating officer departing.
Short seller Fuzzy Panda dumps dirt on Workhorse, including confirming an SEC probe of the troubled electric delivery van maker.
Daniel Ninivaggi takes over as the electric pickup truck startup beset with legal, financial and production challenges seeks to survive.
Truck Talk is a weekly newsletter offering perspective and context on happenings in the trucking industry.
The company will build a limited number of trucks in the fourth quarter for validation and regulatory clearance.
Workhouse Group is reviewing its electric delivery van designs to add cargo capacity and sold most of its stake in troubled Lordstown Motors.
Truck Talk is a weekly newsletter offering perspective and context on the trucking industry.
Troubled electric pickup truck maker Lordstown Motors reportedly is the subject of a Justice Department probe, according to multiple media reports.
Acronyms like SPAC and PIPE dominate business news as the abbreviated path to public ownership becomes increasingly common.
Two days after declaring it had binding orders for its commercial electric pickup trucks, Lordstown Motors backtracked in an SEC filing.
Truck Talk is a weekly newsletter from FreightWaves that adds perspective and context to happenings in the trucking industry.
A day after its CEO and chief financial officer quit, Lordstown Motors said it is proceeding with battery-electric commercial pickup production..
Lordstown Motors Corp.’s top two executives are out following an internal investigation into allegations of phony preorders for electric pickup trucks.
Truck Talk is a weekly newsletter that looks under the hood of the trucking industry to add perspective and context to what’s happening.
Once high-flying SPAC Lordstown Motors said Tuesday it may fail without more money to produce commercial electric pickup trucks.
Truck Talk is a weekly newsletter from FreightWaves that adds perspective and context to happenings in the trucking world.
Truck Talk is a weekly newsletter offering perspective and context on happenings in the industry.
Workhorse Group built 38 last-mile electric delivery vans in Q1 and revised its build to 1,000 trucks from 1,800 for the full year.
Oshkosh can make 100% battery-electric delivery trucks for the U.S. Postal Service, likely dashing Workhorse’s hopes of reigniting the competition.
Hyliion Holdings stock is getting hammered along with most electric vehicle startups, but CEO Thomas Healy is staying optimistic.
Truck Talk is a weekly newsletter where FreightWaves adds context, commentary and color to industry news and trends.
Short seller Hindenburg Research alleges fictitious orders and other fraudulent at electric pickup truck startup Lordstown Motors.
Workhorse Group built just seven electric delivery vans for the second consecutive quarter. Production systems and supply chain problems hamper the company.
Workhorse Group shares tanked after the U.S. Postal Service awarded a 10-year contract to Oshkosh Truck Corp. to modernize the aging mail delivery fleet.
FreightWaves Truck Talk is a weekly newsletter adding perspective, context and commentary to industry news and trends.
Electric chassis maker Xos Trucks may be the next electrification startup to get a financial injection by merging with a special purpose acquisition company, Reuters reported Monday.
General Motors will spend $800 million to make a plant in Ingersoll, Canada the home of its first electric commercial delivery vans.
The second issue of FreightWaves Truck Talk looks at the past, present and future of WorkHorse Group.
Workhorse Group shares plummet as Postal Service delays delivery truck contract to early 2021. Separately, a potential short seller claims the electric delivery truck maker is worth just 20% of its valuation.
Startup gets $780 million from Diamond Peak Holdings Corp. to build commercial fleet-focused electric pickup truck.
Barry Engle and his Qell Acquisition Corp. raised $380 million to invest in a next-generation mobility startup. But how many great candidates are left in the SPAC craze?
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
General Motors is putting its battery and fuel cell expertise to work for startup electric truck maker Nikola in exchange for an 11% ownership stake worth $2 billion.
Workhorse Group is perfecting technology for its HorseFly truck-mounted drone that could distinguish it from last-mile delivery competitors.
Workhorse Group lost a lot of money on paper because new borrowing was tied to its exploding stock price. But it has the cash on hand to build electric trucks into 2022.
Startup electric truck maker Lordstown Motors takes trendy reverse merger route to public ownership, and a $1.6 billion valuation.
Startup electric truck maker Lordstown Motors will go public through a reverse merger, a popular tact to raise capital and speed public trading.
Nikola won’t have its battery-electric Badger pickup for sale until sometime in 2022, but it’s following rival Tesla in building buzz by taking matchable $5,000 deposits ahead of announcing a manufacturing partner.
Lordstown Motors says first-year production of electric commercial pickup trucks is sold out – if the startup secures the $450 million it needs to retool a former General Motors car plant to make full-size pickups.
Workhorse Group, whose stock price is surging, can begin ramping up production of its electric delivery van now that it has received a final federal safety signoff.
Lordstown Motors will reveal its commercial electric pickup truck next week even as
the startup faces a deadline to raise hundreds of millions to convert a former General Motors car plant to truck production.
Lightweight electric van maker expects to build 300-400 units this year as transition to production inches forward while costs remain high amid Q4 revenue of just $3,000.
Workhorse Group has secured a $41 million loan in its third hedge fund deal in a year that the electric truck maker said will let it build out a backlog of 1,100 orders for lightweight commercial delivery vans.
Workhorse Group signed several partnership deals to leverage its intellectual property in electric trucks and drones in the third quarter while more than doubling its loss of a year ago.
General Motors Co. confirmed the sale of its shuttered Lordstown Assembly complex in northeast Ohio to startup Lordstown Motors Corp., which plans to build a battery-powered electric pickup truck focused on fleet customers.
