Pritchard Corporations, a industrial automobile distributor that sells over 30,000 models yearly to clients throughout all 50 states, has ordered 500 all-electric C-1000 supply automobiles from electrical truck maker Workhorse Group. (NASDAQ: WKHS). The automobiles will probably be distributed by way of Pritchard’s dealership areas throughout the nation.
Stock financing will probably be offered by Workhorse’s monetary associate Hitachi Capital America.
The Workhorse C-1000 all-electric truck provides a light-weight design, modular battery packs, and a low ground designed to permit easy accessibility for the driving force whereas loading and unloading.
In the meantime, Workhorse administration has introduced that the corporate wouldn’t meet its earlier projected goal of 300-400 automobiles to be produced by the top of 2020.
“Though we are going to nonetheless manufacture and ship automobiles in This fall, it will likely be a considerably decrease quantity than our earlier steering,” mentioned CEO Duane Hughes, citing capability points and COVID-related slowdowns at Workhorse’s major battery provider. “Given the scenario, Workhorse has modified the meeting course of, restricted manufacturing assist from third-party sources, and delayed deliberate additions to the meeting employees.”