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Stock impact report

UPS-Workhorse electric van deal shows progress on charging costs [Reuters]

Workhorse Group, Inc. (WKHS) 
NASDAQ:AMEX Investor Relations: workhorse.com/investors
Company Research Source: Reuters
UPS-Workhorse electric van deal shows progress on charging costs | Reuters 5 Min Read DETROIT, Feb 22 (Reuters) - A deal Thursday between UPS and U.S. electric van maker Workhorse Group Inc shows how the delivery industry is making progress to resolve a major obstacle to deployment of battery-powered commercial vehicles: Charging costs. UPS, like its rivals in the package delivery business, faces pressure from regulators in major cities around the world to clean up its fleet of petroleum-burning vehicles. UPS is partnering with Workhorse to build an all-new electric delivery van. The first 50 vehicles with a driving range of 100 miles (160 km) will be delivered in 2018. That range is enough to allow UPS to replace around 35,000 diesel or gasoline delivery trucks, company officials said. Until recently, however, UPS would have faced substantial costs for the charging stations and related infrastructure to top up the batteries at the end of the day. “With the large-scale deployments of Show less Read more
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