New Supply Agreement Between Workhorse and GreenPower for EV Star Cab and Chassis

March 1, 2022, Cincinnati, Ohio and Vancouver, Canada — Workhorse Group Inc. (NASDAQ: WKHS)(“Workhorse”), an American technology company focused on providing sustainable and cost-effective electric vehicles to the last-mile delivery sector, and GreenPower Motor Company Inc. (NASDAQ: GP, TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of zero-emission electric-powered vehicles serving the cargo and delivery, shuttle, transit, and school bus markets, today announced the signing of a multi-year supply agreement to facilitate the manufacturing and delivery of medium-duty Class 4 step vans into the North American market.

Photo courtesy of GreenPower Motor

Under the terms of the agreement, the companies have confirmed a 21-month schedule during which GreenPower will deliver 1,500 EV Star cab and chassis to Workhorse starting in July 2022. The companies will use the chassis in the production of Workhorse’s new Class 4 W750 step van line. Moreover, it is slated to enter production in Q3 2022. Workhorse will complete the manufacturing process and deliver finished step vans to its customers in the United States and Canada. The agreement includes deposits based on delivery thresholds and also contains a renewal option.

Workhorse will have exclusive rights in the U.S. and Canada to sell Class 4 step vans. That’s based on the GreenPower-supplied base vehicle. The finished Class 4 step vans will be available under the Workhorse brand with Workhorse after-sales and support service.

The W750 will feature up to 150 miles of all-electric range, with a payload capacity of 5,000 lbs. In addition, a standard 60kW DC fast-charging and optional 60 kW wireless-charging capabilities.

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