The company expects that these potential models may come to market in 2023. It does not have any model in production right now and will announce its plans for new models in the first quarter of this year. The company has suspended further deliveries of this model. Moreover, it recalled all 41 of its C1000 delivery vans due to the model being not compliant with Federal Motor Vehicle Safety Standards. Workhorse lost a potential order from the U.S. In the years 20, the company delivered some of these trucks, but it fell well short of its delivery targets. In 2017, Workhorse announced its plan to develop C-series electric delivery trucks. This gets reflected in the company's quarterly revenue as well as its stock's price in the chart above. That number remained unchanged in 2019, when Workhorse didn't deliver any trucks. By the end of 2018, the company had delivered around 360 such trucks. The company started selling electric and range-extended medium-duty trucks. AMP changed its name to Workhorse Group in 2015. Workhorse's history can be traced back to 2013, when AMP Electric Vehicles acquired Workhorse brand and its assembly plant in Union City, California. What's more, Workhorse isn't new to these challenges. Postal Service, a change in management, issues with delivered vehicles resulting in a recall - the list of Workhorse's troubles is long. Falling behind on its delivery plans, losing a key order from the U.S. Workhorse is surely facing several challenges. ![]() Let's discuss how the company, and its stock, may fare in 2022 and beyond. One such stock is Workhorse Group (NASDAQ: WKHS), which fell 78% last year and is now trading close to $4. While many EV stocks skyrocketed in the last couple of years, there are several others that bit the dust. You must do a thorough analysis before investing your money in any stock, including EV stocks. But that doesn't mean that you can generate windfall returns simply by investing in any electric vehicle (EV) stock. ![]() The electric vehicle sector is hot right now.
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