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Workhorse Group secures $35M in financing from Marathon Asset Management; $1.3M battery purchase by Duke Energy

Green Car Congress

Workhorse Group Inc., a manufacturer of electric-mobility solutions to the transportation sector ( earlier post ), closed a $35-million financing with Marathon Asset Management. On November 28, 2018, as the first step in the relationship, a subsidiary of Duke Energy purchased 615,000 Panasonic battery cells for $1.3

Financing 259
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Workhorse receives purchase order for 500 C-1000 electric delivery trucks from Pritchard Companies

Green Car Congress

Workhorse Group Inc. received a purchase order for 500 of its all-electric C-1000 delivery vehicles from Pritchard Companies. Inventory financing will be provided by Hitachi Capital America as part of Workhorse’s previously announced strategic partnership with HCA.

Purchase 418
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Air Liquide, Groupe PSA, Schneider Electric, Valeo to produce respirators in response to the French government request

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Faced with the compelling need for more respirators, the French government asked a group of French industrial companies led by Air Liquide to study the possibility of increasing the production of respirators so as to provide 10,000 respirators in 50 days, between the beginning of April and mid-May.

France 411
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Workhorse receives purchase order from Pride Group Enterprises for 6,320 C-Series electric delivery vehicles

Green Car Congress

Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. Inventory financing for that deal is also being provided by Hitachi Capital America.

Purchase 243
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NIO launches Battery as a Service (BaaS) in China; battery swap system

Green Car Congress

NIO BaaS users can purchase a car without the battery, making EVs more price competitive against existing powertrains, while also providing the flexibility to change battery capacity depending on their needs and pay accordingly. Limited, Hubei Science Technology Investment Group Co., Weineng Wuhan Battery Asset Co.,

Batteries 508
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Koenigsegg Group AB Terminates Agreement For Purchase of Saab

Green Car Congress

Koenigsegg Group AB has terminated the agreement for its proposed purchase of GM’s Saab. We’re obviously very disappointed with the decision to pull out of the Saab purchase. GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August.

Purchase 199
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Electrovaya completes C$5M financing; new Office of Chairman

Green Car Congress

completed a financing for C$5 million (US$4.96 note in the aggregate principal amount of C$5 million and 500,000 common share purchase warrants. Each share purchase warrant is convertible into one common share of the corporation. Each share purchase warrant is convertible into one common share of the corporation.

Financing 218