![]() On May 8, 2019, General Motors confirmed that it was in talks to potentially sell Lordstown Assembly, its idle 6.2 million square foot manufacturing plant in Lordstown, Ohio to Workhorse Group. To prevent the factory being idle while the W56 was being developed, Workhorse entered into a 3 year contract manufacturing agreement with Tropos Technologies and a supply agreement with GreenPower Motor Company where Workhorse will complete the manufacturing process and sell those vehicles as W4CC's and W750's. By the end of 2022 all the legacy issues had been resolved, such as the securities class action lawsuit, the SEC investigation, and got Workhorse debt free. In August 2021 Richard Dauch was appointed CEO, with the mission of resolving difficult issues Workhorse was facing and to transition Workhorse from a start-up to a leading manufacturer. On November 9, 2021, Workhorse confirmed its SEC and Department of Justice investigations in a regulatory filling which stated that the investigations were related to the trade of securities in the company leading up to the award of the USPS contract to Oshkosh. The report also stated that Workhorse was being sued by some shareholders in the company, which accuses them orchestrating its USPS as part of an insider trading scheme. In November 2021 it was reported that Workhorse faced a Department of Justice investigation as well as a SEC investigation that was first reported in a September 2021 report by shortselling research firm Fuzzy Panda who accused the company of fraud which was followed up by a Cincinnati Enquirer report which found that top Workhorse executives and board members sold off $60 million worth of stock and that part of the selling occurred following interactions with postal officials which signaled their USPS bid was in trouble. President and COO Duane Hughes became the new CEO of Workhorse. In February 2019, Steve Burns, co-founder of AMP Electric Vehicles and CEO of Workhorse resigned from the company. On January 4, 2016, the company was approved by Nasdaq Capital Market and its common stock started being quoted on Nasdaq under the symbol “WKHS” (NASDAQ: WKHS). In 2015, AMP changed its company name to Workhorse Group Incorporated. In March 2013, AMP Electric Vehicles took over Workhorse Custom Chassis, LLC's assets and began offering a range of electric vehicles. ![]() Navistar then shuttered the plant in 2012 to cut costs after having suffered heavy losses. By 2005, they were taken over by Navistar International, which had been selling them diesel engines. Workhorse Custom Chassis, LLC was founded in 1998 by investors who took over the production of General Motors' P30/P32 series stepvan and motorhome chassis. Their products include commercial electric vehicles, Horsefly delivery drones, and a Metron telematics software system. Workhorse makes electric delivery vans, drones, and telematics software designed for last-mile delivery. Workhorse Group Incorporated, originally AMP Electric Vehicles, is an original equipment manufacturer and technology company headquartered in Sharonville, Ohio, U.S.
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