It's all coming together Workhorse, Lordstown Motors, Linamar, LAS
Linamar to supply Commercial Vehicle eAxle program to Workhorse Group
September 6th, 2022 (GUELPH) – Linamar Corporation (TSX:LNR) today announced that it has secured a new eAxle system contract with Workhorse Group for commercial vehicle delivery trucks. The Medium Duty beam axle propulsion system was designed and developed by Linamar’s eLIN Group, a product solutions group dedicated to electrification for all Linamar’s products. This is Linamar’s first major eAxle contract with a Commercial Vehicle OEM and builds upon the previous success in the light vehicle eAxle segment. Linamar will be the Tier 1 supplier for the complete beam eAxle system. “This is an exciting new project for Linamar,” said Linda Hasenfratz, Linamar’s Executive Chair and CEO. “Our eLIN Group’s beam eAxle product lines have been gaining attention within the Commerical Vehicle space for some time now. Our portfolio of electrified business continues to grow and expanding into diverse pathways such as Commercial Vehicles is a key element of our strategy; it is great to see the efforts of our Commercial Vehicle eAxle design and development come to fruition. We look forward to the opportunity to work with a world class organization like Workhorse Group .” “Linamar has demonstrated engineering expertise and manufacturing capabilities well suited to the needs of Workhorse,” commented Jim Peters, Workhorse Group’s Vice President of Supply Chain and Procurement. “Linamar has a competitive offering in this segment making them a great partner for this stage of our fleet electrification.” eLIN has a range of eAxle solution offerings for the passenger car, commercial vehicle, and other mobility markets. The commercial vehicle beam eAxle portfolio offers solutions for applications in the Class 2 through 6 vehicle sizes. This Medium Duty eAxle is designed for the Class 5-6 truck category and offers superior performance and efficiency for its size giving customers a no compromise electric driveline solution with ample packaging space remaining for the battery pack. Production will begin in mid-2023 and will be located in Linamar’s facilities in Guelph, Canada. For more information on this MD eAxle and the full eLIN product portfolio visit linamar.com/products/#elin or contact Electrification@Linamar.com – 30 – Linamar Corporation (TSX:LNR) is an advanced manufacturing company where the intersection of leading-edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The Company is made up of two operating segments – the Industrial segment and the Mobility segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products. The Industrial segment is comprised of Skyjack, MacDon and Salford. Skyjack manufactures scissors, booms and telehandler lifts for the aerial work platform industry. MacDon manufactures combine draper headers and self-propelled windrowers for the agricultural harvesting industry. Salford also supplies the agriculture market with farm tillage and crop nutrition application equipment. The Mobility segment is subdivided into three regional groups: North America, Europe and Asia Pacific. Within the Mobility segment, the regional groups are vertically integrated operations combining expertise in light metal casting, forging, machining and assembly for both the global electrified and traditionally powered vehicle markets. The Mobility segment products are focused on both components and systems for new energy powertrains, body and chassis, driveline, engine and transmission systems of these vehicles. In addition to the recently formed eLIN Product Solutions Group that focuses on Electrification, McLaren Engineering provides design, development, and testing services for the Mobility segment. Linamar has nearly 27,000 employees in 65 manufacturing locations, 14 R&D centres and 28 sales offices in 17 countries in North and South America, Europe and Asia, which generated sales of more than $6.5 billion in 2021. For more information about Linamar Corporation and its industry-leading products and services, visit www.linamar.com or follow us on our social media channels
For further information regarding this release please contact Linda Hasenfratz at (519) 836-7550. Guelph, Ontario September 6th , 2022
Workhorse Group Incorporated, originally AMP Electric Vehicles, is an original equipment manufacturer and technology company headquartered in Sharonville, Ohio, U.S.[1] Workhorse makes electric delivery vans, drones, and telematics software designed for last-mile delivery. Their products include commercial electric vehicles, Horsefly delivery drones, and a Metron telematics software system. History
AMP Electric Vehicles, was founded in 2007 by Steve Burns, former CEO of Lordstown Motors. AMP Electric Vehicles was founded on the idea of converting passenger vehicles – originally designed with an internal combustion engine, gas tank, and related components – to electric drive. The company's goal was to design an electric powertrain around a popular vehicle model, then convince the OEM that was already mass-producing that vehicle to sell it to AMP as a “glider” – a version without a drivetrain. Over the years, however, two problems became apparent. First, the major automakers were hesitant to cooperate. Second, the passenger EV market didn't materialize quite as fast as AMP, and other manufacturers, had hoped it would.[2]
In 2012, The commercial vehicle powerhouse Navistar decided to sell off its Workhorse subsidiary, a step van chassis manufacturer, including the Workhorse factory in Indiana.[3] In March 2013, AMP Electric Vehicles took over Workhorse Custom Chassis, LLC's assets and began offering a range of electric vehicles.[4][5][6]
On April 16, 2015, AMP Electric Vehicles changed its company name to Workhorse Group Incorporated.[7] On January 4, 2016, the company was approved by Nasdaq Capital Market and its common stock started being quoted on Nasdaq under the symbol “WKHS” (NASDAQ: WKHS).[8]
In February 2019, Steve Burns, co-founder of AMP Electric Vehicles and CEO of Workhorse resigned from the company. President and COO Duane Hughes became the new CEO of Workhorse.[9][10]
In November 2021 it was reported that Workhorse faced a Department of Justice investigation as well as a SEC investigation that was first reported in a September 2021 report by shortselling research firm Fuzzy Panda who accused the company of fraud which was followed up by a Cincinnati Enquirer report which found that top Workhorse executives and board members sold off $60 million worth of stock and that part of the selling occurred following interactions with postal officials which signaled their USPS bid was in trouble. The report also stated that Workhorse was being sued by some shareholders in the company, which accuses them orchestrating its USPS as part of an insider trading scheme.[11][12][13] On November 9, 2021, Workhorse confirmed its SEC and Department of Justice investigations in a regulatory filling which stated that the investigations were related to the trade of securities in the company leading up to the award of the USPS contract to Oshkosh.[14]
In August 2021 Richard Dauch was appointed CEO,[15] with the mission of resolving difficult issues Workhorse was facing and to transition Workhorse from a start-up to a leading manufacturer.[16] By the end of 2022 all the legacy issues had been resolved, such as the securities class action lawsuit,[17] the SEC investigation,[18] and got Workhorse debt free.[19] To prevent the factory being idle while the W56 was being developed, Workhorse entered into a 3-year contract manufacturing agreement with Tropos Technologies[20] and a supply agreement with GreenPower Motor Company where Workhorse will complete the manufacturing process and sell those vehicles as W4 CC's and W750's.[21] Lordstown Plant & Licensing Agreement Main article: Lordstown Assembly
On May 8, 2019, General Motors confirmed that it was in talks to potentially sell Lordstown Assembly, its idle 6.2 million square foot manufacturing plant in Lordstown, Ohio, to Workhorse Group.[22][23] On November 7, 2019, the newly constituted Lordstown Motors, of which Workhorse Group had a 10% stake, purchased the shuttered Lordstown Assembly Plant from General Motors. Workhorse CEO Steve Burns assumed the role of co-founder and CEO of Lordstown Motors.[24] Later that day, Workhorse Group issued a press release detailing a licensing agreement with Lordstown Motors for their W-15 pickup truck.[25][26][27] Burns resigned as CEO of Lordstown Motors on June 14, 2021.[28] Products Vehicles W4 CC
A class 4 cab chassis battery electric commercial vehicle.[29] W750
A class 4 step van battery electric commercial vehicle, with 750 cubic feet of storage space intended for last mile delivery.[30] W56 Main article: Workhorse W56
A class 5 and 6 battery electric commercial vehicle, with 1000 cubic feet of storage space intended for last mile delivery[31] but also available as a strip chassis and cab & chassis.[32] The beam axle is provided by Linamar's eAxle system, stated to have superior performance and efficiency.[33] The W56 was unveiled at the 2023 NTEA Work Truck Show. Production began in September 2023.[34] Aerial vehicles Octocopter Main article: Workhorse SureFly
In December 2018, Workhorse announced that they would debut its SureFly, an electric vertical take off and landing octocopter at the 2019 North American International Auto Show. The SureFly would be built for air medical services, military organizations, agricultural customers, and for urban commuting.[35] In December 2019, aerospace company Moog Inc. bought the SureFly program for $5 million. Moog planned to use the SureFly as a demonstrator for autonomous delivery vehicles.[36] HorseFly drone
Workhorse began the development of a truck-mounted drone called HorseFly in 2016. The HorseFly drone was developed in collaboration with defense contractor Moog (NYSE:MOG.A).[37] Unmanned medical delivery capabilities of the HorseFly was also developed in partnership with San Diego-based Unmanned Systems Operations Group Inc.[38] Falcon drone
Workhorse modified their HorseFly design to make a lighter but more rugged drone intended for making deliveries in hazardous environments like a conflict zone, or inaccessible areas like in a natural disaster.[39] Discontinued vehicles W-15 (pickup truck) Main article: Workhorse W-15
In November 2016, Workhorse announced that they were working on an electrically powered pickup truck, called the W-15. North Carolina's Duke Energy stated that it would buy 500 of the vehicles, and the city of Orlando also reported interested.[40] It was planned to have 460 horsepower and a battery range of 80 miles. A gasoline range extender was to supply further range.[41][42] In March 2020, Workhorse confirmed that it had transferred the W-15 pickup truck project to Lordstown Motors through a licensing agreement. Lordstown Motors paid a licensing fee to Workhorse, and the truck will be produced in the future without the gasoline range extender.[43] The W-15 became the basis of the Lordstown Endurance pickup truck.[44] C-Series (electric delivery van) Main article: Workhorse C-Series
Workhorse was one of the finalists for the 10-year United States Postal Service contract for the Next Generation Delivery Vehicle (NGDV) to replace 165,000[45] aging and outdated Grumman LLVs that had been used by USPS since 1987.[46] In February 2021, the contract was awarded to Oshkosh Defense.[47][48] Workhorse announced what Bloomberg News described as a "long-shot bid" to overturn the loss of the award.[49] On June 16, 2021, Workhorse filed a formal complaint with the United States Court of Federal Claims protesting the award of the United States Postal Service Next Generation Delivery Vehicle ("USPS NGDV") contract to Oshkosh Defense. However this complaint was dropped in September 2021.[13][50][51][52]
The prototype NGDV candidate chassis was modified and reused for both the W-15 pickup and the N-GEN delivery van for commercial fleets.[53][54] In June 2019, Workhorse obtained US$25 million to continue the delivery van project, which had a temporary name of N-GEN.[55] By November 2019, Workhorse changed the name of the delivery van from N-GEN to C-Series. In November 2019, Workhorse chose battery supplier EnerDel to provide up to 5,200 battery packs for C-Series delivery vans.[56] The C-series was intended to be built at a former General Motors factory in Lordstown, Ohio.[57]
Workhorse developed a flagship electric van model C-1000 and started shipping it in the summer of 2021. However, after the initial sales, the company announced the truck would be redesigned to increase payload capacity. In September 2021 Workhorse suspended all deliveries of the vehicle and recalled 41 vans that were already delivered to customers with the company stating that it needed to provide "additional testing and modifications" to comply with US safety standards.[58][59] In November 2021 CEO Rick Dauch admitted during a conference call that he believed the C-1000 was unreliable.[60]
Current management
Current employees in management positions are as follows:[61]
Richard "Rick" Dauch - CEO Robert “Bob” Ginnan - CFO Josh Anderson - CTO Jeff Mowry - CIO Ryan Gaul - President, Commercial Vehicles John Graber - President, Workhorse Aerospace Jim Harrington - CAO, General Counsel, Secretary Jim Peters - Vice President, Supply Chain and Procurement Dave Bjerke - Vice President, Product Development Kelly Kiger - Vice President, Sales and Marketing Stan March - Vice President, Corporate Development and Communications Kerry Roraff - CHRO Ben Drake - Vice President, Government Affairs Brad Hartzell - Vice President, Manufacturing George Petropoulos - Vice President, Commercial Vehicle Government Sales Mike Gerdes - Vice President, Aero Flight Operations and Engineering Joe McCulloch - Vice President, Aero Production and Supply Chain Randall Warnas - Vice President, Aero Sales and Marketing
Current board of directors
Current members of the board of directors are as follows:[62]
Raymond Chess (Chairman) Richard Dauch Jacqueline Dedo Pamela Mader Bill Quigley Austin Scott Miller Jean Botti (CEO of VoltAero)[63] Brandon Torres Declet (CEO of Exyn Technologies[64])
References
"Contact – Workhorse". Retrieved March 31, 2023. "AMP Electric Vehicles: From car converter to truck OEM". "Navistar Shutting Down Workhorse as Part of Cost-Cutting". "ASSET PURCHASE AGREEMENT by and between WORKHORSE CUSTOM CHASSIS, LLC, as Seller and AMP TRUCKS INC., as Buyer Dated as of March 4, 2013" (PDF). sec.gov. Retrieved February 4, 2022. Kiley, David. "GM In Talks To Sell Ohio Plant To EV Truck Venture Workhorse". Forbes. Retrieved November 19, 2020. "AMP Electric Vehicles to Acquire Assets of Workhorse Brand From Navistar Affiliate - News". eepower.com. Retrieved January 23, 2022. "AMP Holding Inc. is Now Workhorse Group Inc". NGT News. April 17, 2015. Retrieved January 23, 2022. "Form 10-K - SEC.gov". www.sec.gov. Retrieved January 24, 2022. DeBrosse, Jim (November 20, 2020). "Steve Burns Wants Lordstown Motors to Build the World's Best Electric Pickup Truck". Cincinnati Magazine. Retrieved January 24, 2022. Bates, Michael (February 7, 2019). "Steve Burns Steps Down as Workhorse CEO". www.ngtnews.com. NGTNews. Retrieved November 19, 2020. Foldy, Ben (November 5, 2021). "WSJ News Exclusive | Electric-Van Maker Workhorse Is Being Investigated by the Justice Department, Documents Show". Wall Street Journal. ISSN 0099-9660. Retrieved November 5, 2021. O'Kane, Sean (November 5, 2021). "EV startup Workhorse faces Department of Justice probe". The Verge. Retrieved November 5, 2021. "The Enquirer". www.cincinnati.com. Retrieved November 9, 2021. "Workhorse discloses DoJ, SEC probe related to USPS contract". Reuters. November 8, 2021. Retrieved November 9, 2021. "Workhorse Appoints Richard F. Dauch as Chief Executive Officer". Workhorse Group, Inc. July 29, 2021. Retrieved April 8, 2023. "Workhorse Group Reports Second Quarter 2021 Results". Workhorse Group, Inc. August 9, 2021. Retrieved April 8, 2023. "Workhorse Group Announces Proposed Settlements of Class Action Lawsuit and Related Shareholder Derivative Actions". Workhorse Group, Inc. October 27, 2022. Retrieved April 8, 2023. "Workhorse Group Provides Business Update". Workhorse Group, Inc. December 28, 2022. Retrieved April 8, 2023. "Workhorse Group Strengthens Financial Position Through Deleveraging Transaction". Workhorse Group, Inc. April 6, 2022. Retrieved April 8, 2023. Engel, Liz (August 9, 2022). "Workhorse Group signs contract manufacturing agreement with Silicon Valley firm". www.bizjournals.com. Cincinnati Business Courier. Retrieved April 14, 2023. kgeismar (March 2, 2022). "Workhorse and GreenPower EV Star Cab and Chassis | GreenPower". GreenPower Motor Company. Retrieved April 8, 2023. Assis, Claudia. "GM plans to sell Ohio plant to electric truck company Workhorse Group". MarketWatch. Retrieved May 9, 2019. O'Kane, Sean (May 8, 2019). "GM is trying to sell a closed factory to troubled EV startup Workhorse". The Verge. Retrieved May 9, 2019. Selak, Jr, Ron (June 22, 2019). "Workhorse secures $25 million in financing". Tribune Chronicle. Ogden Newspapers. Retrieved November 19, 2020. "GM sells Ohio-based Lordstown Assembly plant to electric truck start-up". www.msn.com. Retrieved November 8, 2019. Inc, Workhorse Group. "Workhorse Group Signs Intellectual Property Licensing Agreement with Lordstown Motors Corp". www.prnewswire.com (Press release). Retrieved November 8, 2019. {{cite press release}}: |last= has generic name (help) "We Drove the Predecessor to LMC Motors' Endurance Electric Pickup". Trucks.com. November 21, 2019. Archived from the original on September 26, 2019. O'Kane, Sean (June 14, 2021). "Lordstown Motors CEO resigns after investigation into preorders". The Verge. Retrieved June 30, 2021. "W4CC – Workhorse". Retrieved March 29, 2023. "W750 – Workhorse". March 13, 2023. Retrieved March 29, 2023. "W56 – Workhorse". Retrieved March 29, 2023. "Q2 2022 Earnings Call - Page 7" (PDF). "Linamar to supply Commercial Vehicle eAxle program to Workhorse Group" (PDF). "Workhorse Begins Production of W56 Chassis". Workhorse Group, Inc. September 7, 2023. Retrieved September 11, 2023. PRNewswire (December 18, 2018). "Workhorse Group to Exhibit SureFly Electric Octocopter at 2019 Detroit Auto Show". AviationPros. Archived from the original on December 19, 2018. Retrieved August 19, 2019. Dominic Perry (February 12, 2020). "Moog builds on benefits of SureFly acquisition". Flightglobal. Adler, Alan (August 13, 2020). "Workhorse perfecting HorseFly truck-based drone delivery". www.freightwaves.com. Freightwaves. Retrieved November 19, 2020.
