What you need to know:
- Workhorse Q1 2026 earnings show revenue growth and increased electric vehicle deliveries following the company's 2025 merger with Motiv Electric Trucks
- The company introduced lower-cost electric step vans and promotional pricing aimed at accelerating commercial fleet electrification in the medium-duty market
- Workhorse outlined plans for a new modular EV chassis platform and future Class 5/6 cab chassis production to expand its medium-duty electric truck lineup
- New fleet orders from Gateway Fleets and Purolator underscore growing demand for commercial electric vehicles despite ongoing profitability challenges
Workhorse Group reported higher first-quarter revenue and vehicle deliveries following its merger with Motiv Electric Trucks, while outlining a strategy centered on lowering EV acquisition costs and expanding service support for commercial fleets.
The electric commercial vehicle manufacturer said first-quarter revenue increased to $4.3 million, up from $1.1 million a year earlier, as vehicle deliveries rose to 21 units from five in the prior-year period. The quarter marked Workhorse's first full reporting period since completing its merger with Motiv in December 2025.
CEO Scott Griffith said the company is focused on accelerating adoption in the medium-duty electric vehicle market by addressing one of the industry's biggest challenges: upfront vehicle costs.
"We believe a strong product-market fit exists in the medium duty segment, with numerous large fleets already deploying electric vehicles at scale, making this $23 billion commercial vehicle market near a tipping point of an electric transition," said Griffith. "Our efforts this year have been focused on reducing the time to that tipping point."
Workhorse targets lower EV acquisition costs
To improve affordability, Workhorse introduced a lower-cost 140-kWh version of its W56 electric step van and launched promotional pricing for its larger 210-kWh model. The company said the pricing strategy has already generated customer demand, including a recently announced 100-unit order from Gateway Fleets.
Workhorse also outlined plans for a new modular chassis platform that will be manufactured at its Union City, Indiana, facility. The platform is designed to support multiple wheelbase configurations, updated battery technology and next-generation vehicle software. The company is also developing a Class 5/6 cab chassis platform, with testing expected to begin in 2026 and production targeted for early 2027.
In addition to product development, Workhorse said it is expanding its after-sales support network through a partnership with InCharge Energy. The initiative is intended to provide large fleet operators with scalable maintenance and service support aimed at improving vehicle uptime.
Integration efforts tied to the Motiv merger are also progressing, according to the company. Workhorse said it has completed the consolidation of production lines into its Union City manufacturing facility and remains on track to achieve $20 million in annualized cost synergies by the end of 2026.
The company also highlighted a separate 100-vehicle order from Canadian logistics provider Purolator, which is expected to double the number of Workhorse vehicles in Purolator's fleet.
Despite higher revenue, Workhorse's losses widened during the quarter as the company absorbed manufacturing and integration costs tied to the merger. The company reported an operating loss of $21.1 million, compared with $9.1 million a year earlier.
Net loss for Q1 totaled $19.9 million, compared with $12.7 million in Q1 2025.
