Anticipation of that launch rose this week when a Tesla Semi was reportedly seen charging its battery, attached to a trailer load of the automaker’s Model 3s and Model Ys, according to published reports.
WORKHORSE CAR FULL
The funding comes as electric car pioneer Tesla continues to hone its long-promised Tesla Semi, first launched in 2017 for initial sales in 2019 but now expected not to enter full production until 2021. Successful vehicle production and delivery should also lead to additional orders as we demonstrate our ability to meet our current demand and provide road-ready last-mile delivery EVs." "Heading into the second half of the year, we'll be looking to meet our previously stated annual delivery target, which should have us in a strong position to accelerate our production ramp into 2021. "With this note in place, we have much greater financial flexibility to support our current and future production needs," Workhorse CEO Duane Hughes said in a release. The company has previously provided vehicles for customers such as delivery giant UPS Inc., which purchased 125 hybrid electric delivery trucks in 2015 in an effort to cut fuel costs, and in 2018 deployed 50 more electrically powered package cars, saying their cost had come down to become comparable to conventionally fueled trucks without any subsidies. Workhorse Group Inc., a provider of electric vehicles for the last-mile delivery sector, has secured $70 million in financial backing and plans to ramp up production, the firm said today.Ĭincinnati-based Workhorse did not disclose the source of the funding, but said it was provided by “a single institutional investor” and that it planned to use the proceeds for current operating working capital and other general corporate purposes.
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