CINCINNATI, Oct. 16, 2020 /PRNewswire/ — Workhorse Group Inc. an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, closed the previously announced $200 million financing with Antara Capital GP LLC as lead investor.
“We are excited to close this transaction with our financial partners led by Antara Capital,” said Workhorse CEO Duane Hughes. “The funds will allow an acceleration of production, an advancement of new products directly for the last-mile delivery market and an expansion of our drone operations. We appreciate our financial partners’ faith in us and their support in further solidifying our leadership and reach in the last-mile delivery segment.”
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. It designs and builds high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with vehicles and enable fleet operators to optimize energy and route efficiency. Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment.