We will reveal that the WKHS C-1000 EV trucks delivered in Q4 2020 have already broken down. In reality, most of the trucks they’ve shipped have broken down and been abandoned. Workhorse touts itself as the oldest EV truck maker with the most hybrid & electric trucks on the road. Last Place in USPS NGDV Race 2 Other EV Prototypes Submitted and Both Beat Workhorse’s.
#WORKHORSE GROUP DRIVERS#
New C-1000 EV’s Don’t “Work” – Drivers Complain They Can’t Drive on Freeways or Even Up Hills.Former Customers UPS & FedEx Have Abandoned WKHS & Their Trucks (Government Studies Prove it).Fake Order Book with Orders from Undisclosed Related Parties Used Truck Salesmen with Egregious Orders Customers Whose HQ’s Don’t Exist (we have the pictures).Revenue Recognition Fraud Indicated by Customer.
We are betting against you and are Short Workhorse.įuzzy Panda Research Workhorse Group: Active SEC Investigation + Fake Orders + Lost to Two Other EVs in USPS Bid + New EVs Already Breaking Down = Glue Factory for Workhorse America deserves a #1 supplier for the USPS, not last place. The USPS has also confirmed that 2 other EV prototypes beat Workhorse’s EV. Workhorse actually managed to come in LAST PLACE. Workhorse lost the USPS NGDV bid because their prototypes kept breaking – 117 times in fact. At the latest in 7 months, regarding the min “Backlog Sales” covenant of >$25 million and likely sooner regarding breaching your covenant for a material breach in “representations & warranties.” Also, the Lordstown Equity and cash proceeds (~$100 million) is actually in an SPV completely controlled by the debt holders and not accessible for you to use. Safety issues – front tires hit the frame & smoke when loaded, axles breaking, false load limit, etcītw, Workhorse is also set to breach its debt covenants.Unable to drive on highways – battery dies too quickly at >50mph.The EVs broke down within the first 6 months, multiple times! We interviewed IKEA managers, the logistics company’s employees, and truck drivers and discovered major product failures in the C-1000: The new C-1000 EV’s are performing even worse and probably require a complete platform redesign. Drivers told us the trucks were “garbage.” Many UPS Trucks Have Broken Down & Been Scraped: In Atlanta, UPS HQ’s, >90% are out of service.How many trucks are actually operating? You claimed 381 still are on the road. Blue Chip Customers have Abandoned WKHS – FedEx calls you an “Unreliable EV Manufacturer” in a government study…yet WKHS calls FedEx a “Blue Chip Customer”.