Workhorse Group Inc. (NASDAQ: WKHS) was founded in 2007, formerly known as AMP Holding Inc., and changed to its current name in March 2015. It is headquartered in Loveland, Ohio, USA, and has 109 full-time employees. A company that designs, manufactures, sells, and leases battery-powered electric vehicles and airplanes in the United States.
Workhorse Group Inc. (WKHS):
Workhorse Group, Inc. operates through two divisions: Automotive and Aviation.
Workhorse Group has also developed a cloud-based real-time telematics performance monitoring system that enables fleet operators to optimize energy and route efficiency.
Workhorse Group products include electric trucks, medium and light pickup trucks, and HorseFly delivery drones and truck systems.
Workhorse Group Inc. (WKHS) History:
Founded in 2007, AMP Electric Vehicles is a developmental automotive electrification company. The company first tried to increase battery power for two-seater sports cars.
In a nationwide “clean and mass-produced” vehicle competition sponsored by Progressive Insurance in 2009/2010, AMP Electric Vehicles’ 100% electric GM Sky was the only mass-produced vehicle in the competition. All other vehicles are either prototypes or concept cars that are not suitable for driving on the road. The company is one of eight finalists in the Side-by-Side seating category. AMP Electric Vehicles’ Sky not only achieves zero emissions, but its fuel efficiency is four times that of internal combustion engines (the ICE version is 96 MPGe vs. 19/24 city / highway).
AMP Electric Vehicles’ Sky Roadster’s electrified design and implementation of a system that can power large vehicles. This led the company to create electrification kits for the Chevrolet Equinox SUV, Jeep Grand Cherokee and Mercedes-Benz ML350.
AMP Electric Vehicles was listed on the over-the-counter market (OTC) under the stock code AMPD in 2010.
The company signed a development agreement with Navistar , a major American truck OEM . According to the development agreement, the initial project was to re-power 1,000 cubic feet of trucks. The first car was delivered to them in August 2012 and successfully passed Navistar’s requirements and performance tests. While Navistar’s senior management passed the performance test of the project vehicle, Navistar submitted the electrification project. In addition, Navistar introduced their customers to AMP Electric Vehicles, and AMP began to work directly with end users. As part of the end-user requirements, the battery electric test truck successfully passed a 4000-mile durability test at TRC’s automotive test facility in East Liberty, Ohio.
In March 2015, AMP acquired the Workhorse brand and Workhorse Custom Chassis assembly plant in Union City, Indiana. The asset acquisition makes the company an OEM and enables the company to produce new medium truck chassis in the 14,500 to 23,500 GVW class.
In addition to plant assets, AMP’s exclusive arrangements with UpTime Parts, Inc. in logistics and spare parts support and the company’s more than 400 dealer networks provide AMP with unparalleled national support.
In March 2015, AMP officially changed its name to Workhorse Group Incorporated and transferred to Nasdaq trading under the stock code: WKHS.