Jim Harrington was appointed as chief administrative officer Moreover, it also announced its appointment of multiple top officers, including the following: On 30 September this year, Workhorse announced that Steve Schrader, the company’s chief financial officer (CFO), and Rob Willison, its chief operating officer (COO), had left the company, and that new appointments had been made to replace them.įor the CFO position, the company appointed Greg Ackerson, the firm’s former corporate controller, while the management decided to eliminate the role of COO from its ranks. What can we expect from Workhorse in the future, considering the low price at which the stock is trading? Join us in reviewing Workhorse’s share-price forecast below as we assess the price action and fundamentals of this EV manufacturer to suggest some plausible Workhorse stock projections. Under the newly developed business plans, Workhorse said it expects to manufacture and sell at least 250 vehicles in 2022 "assuming current supply chain visibility remains unchanged, and generate at least $25 million in revenue". It was also cheered by the earlier announcement of a multi-year supply agreement with the GreenPower Motor Company during which GreenPower will deliver 1,500 EV Star cab and chassis for the new Class 4 W750 step van line starting in July 2022. In the meantime it is reshaping its product roadmap including new releases: the W750 for the third quarter of 2022, the W56 scheduled for third quarter 2023 and the W. The company, which specialises in delivery vehicles for the "final mile" sector, has now said it will discontinue to C-1000 vehicle. Last year it lost out on a multi-billion-dollar contract from the US Postal Service and had to recall its C-1000 delivery van because it failed to meet safety standards. On the downside on 1 March Workhorse reported a net loss of $156m for the fourth quarter of 2021 after having reported profits of more than $280m in the same period the previous year. Other EV stocks have risen in the same period for example Ideanomics ( IDEX) is up 20%, Tesla ( TSLA) is up 25% and Nikola ( NKLA) has gained 38%.Īnd there is a hope perhaps that Workhorse has put the worst behind it and is looking positively to the future. Sentiment has turned towards tech stocks with the Nasdaq Composite rising 8% in that time. With hydrocarbon fuel costs rising dramatically they may also make EV stocks look more attractive. Struggling electric vehicle (EV) maker Workhorse Group ( WKHS) has seen its stock price rise 42% over the last week and today (22 March) is priced at $4.43.
Tesla’s EV revolution: Where will the TSLA stock price be in five years?.Read more: XPeng stock forecast 2021-2025: stronger earnings, new EV models, $76m investment from government.US30 US Wall Street 30 (USA 30, Dow Jones)
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