|Bid||1.6300 x 4000|
|Ask||1.6400 x 1100|
|Day's Range||1.4500 - 1.6300|
|52 Week Range||0.3700 - 3.2700|
|Beta (3Y Monthly)||2.90|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
The unnamed joint venture between Loveland electric truck maker Workhorse and its co-founder is looking to raise $300 million to buy the shuttered General Motors plant in Lordstown.
Greater Cincinnati stocks plunged along with the stock market Monday amid the escalating trade battle between the U.S. and China.
Workhorse Group (NASDAQ: WKHS) is in the final stages of acquiring General Motors' (NYSE: GM) Lordstown Complex in Lordstown, Ohio, GM said in a statement on May 8, 2019. Under the terms of the deal, which has not been finalized, a newly formed entity led by Workhorse founder Steve Burns would acquire the facility with Workhorse itself holding a minority interest in the new entity. "This potential agreement creates a positive outcome for all parties involved and will help solidify the leadership of Workhorse's role in the [electric vehicle] community," said Workhorse CEO Duane Hughes.
The president of United Auto Workers Local 1112 in Lordstown -- who Trump attacked on Twitter two months ago -- is among a handful of workers whose job is to do maintenance at the inactive compact car factory that made its last Chevrolet Cruze in March. “I haven’t heard anything about it,” Green said by phone Wednesday.
Workhorse spokesman Tom Colton told the Business Courier that if it lands the USPS contract, the vehicles would not necessarily be built in Lordstown.
WASHINGTON/TORONTO (Reuters) - Under pressure from President Donald Trump, General Motors Co said on Wednesday it was in talks to sell an idled northeast Ohio plant to a cash-strapped electric truck-building company. The No. 1 U.S. automaker also said it would invest $700 million in three other plants in Ohio - a state important to Trump's re-election chances in 2020 - and maintain some operations at a Canadian factory that had been slated to close by year end. The decisions came after GM faced months of criticism over its plan announced in November to close five North American plants and cut 15,000 jobs.
General Motors is in talks to sell its Lordstown vehicle factory in Ohio toWorkhorse Group, a battery-electric transportation technology company, toproduce EV pickup trucks
soared over 200% to $2.65 Wednesday when it became the subject of one President Donald Trump's tweets. CEO Mary Barra told him that GM would sell its shuttered Lordstown, Ohio manufacturing plant to Workhorse to build electric trucks. "GREAT NEWS FOR OHIO!" Trump wrote "Just spoke to Mary Barra, CEO of General Motors, who informed me that, subject to a UAW agreement etc., GM will be selling their beautiful Lordstown Plant to Workhorse, where they plan to build Electric Trucks.
Automotive giant General Motors announced Wednesday it is creating hundreds of manufacturing jobs and investing millions of dollars in three Ohio cities, including a Dayton-area community.
The potential for a Loveland electric truck manufacturer to bring a major number of jobs back to a shuttered auto plant in northeast Ohio depends upon it getting a U.S. Postal Service contract as that agency replaces its vehicle fleet, Ohio Gov. Mike DeWine said on Wednesday.
The discussions with Workhorse Group Inc., which makes plug-in pickups and all-electric delivery vans, and an affiliated new entity could bring “significant” production and assembly jobs to the Lordstown manufacturing complex, GM said in a statement Wednesday. The United Auto Workers union is skeptical, calling for the company to keep operating the plant. Trump preempted the announcement by more than an hour, writing in a tweet Wednesday that the sale to Workhorse will be subject to reaching an agreement with the UAW, which employed more than 1,400 hourly workers at the factory before GM scheduled its closure.
A joint venture between a Loveland-based manufacturer and its founder is in early-stage negotiations to acquire the shuttered General Motors plant in Lordstown, Ohio, and would build electric trucks there.
An obscure electric-truck and aircraft maker in Ohio vaults to the forefront of U.S. politics after President Trump tweets the company, Workhorse Group Inc., is buying a General Motors Co. plant in its home state.
DETROIT, May 8, 2019 /PRNewswire/ -- General Motors Co. (GM) said today it is in discussions with Workhorse Group Inc. (WKHS) and an affiliated, newly formed entity to sell the company's Lordstown Complex in Lordstown, Ohio. The move has the potential to bring significant production and electric vehicle assembly jobs to the plant. Upon final agreement, the entity, led by Workhorse founder Steve Burns, would acquire the facility.
WASHINGTON/TORONTO May 8 (Reuters) - General Motors Co moved to solve two major political headaches on Wednesday as U.S. President Donald Trump announced the Detroit automaker will sell its Lordstown, Ohio, plant to a company to build electric trucks, while GM said it would maintain some operations at a Canadian plant. The decision came after GM faced months of criticism over its plan announced in November to close five North American plants and cut 15,000 jobs. GM's decision to close the small-car Ohio assembly plant in a key state in the 2020 election had already become fodder for several Democratic presidential candidates.
Shares of Workhorse Group surged 32% as President Trump, in a tweet, said that General Motors is selling its Lordstown, Ohio, plant to the Cincinnati electric vehicle company, subject to UAW approval. Trump in another tweet added that GM will spend $700 million in 3 separate Ohio locations, creating 450 jobs. Neither company immediately confirmed the deal.
Sales continued to fall at Workhorse (NASDAQ: WKHS) as it delivered fewer trucks in the first quarter of 2019 during its transition to an electric-vehicle maker, the company said. As part of that, the company has engaged a financial partner that is helping it explore a sale of its SureFly personal helicopter business, CFO Paul Gaitan said on the company's earnings call. The company reported sales of $364,000, down from $560,000 in the first quarter of 2018.
The Loveland, Ohio-based company said it had a loss of 11 cents per share. The truck and drone manufacturer posted revenue of $364,200 in the period. Its adjusted revenue was $364,000. The company's shares ...
CINCINNATI, May 7, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective electric-mobility solutions to the transportation sector, today reported financial results for the first quarter ended March 31, 2019. April 2019: Entered an alliance with Duke Energy. April 2019: Entered into subscription agreement with existing Workhorse investors to sell 3,957,432 shares of common stock at a price per share of $0.74, resulting in net proceeds of $2.9 million that will be used for working capital and general corporate purposes.
CINCINNATI , April 29, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS ) ("Workhorse" or "the Company") , an American technology company focused on providing sustainable ...
Experienced Teams From Both Organizations Have Formed a Strategic Partnership Focused on Finalizing the Workhorse N-GEN Production Process for Initial Delivery Beginning in the Third Quarter of 2019 CINCINNATI ...
Alliance Focuses on Electric Vehicle (EV) Infrastructure, Depot-Centric Energy Management Services and Battery Management CINCINNATI , April 4, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS) ...