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For Companies Like Workhorse, A Race to Be the Tesla of Delivery Vehicles

A fleet operator might spend about $300,000 to own and operate a diesel truck over 20 years, but the cost of owning an electric truck may be less than half that, according to Workhorse.Between its founding in 2007 and 2019 Workhorse delivered 365 vehicles, mostly diesel trucks retrofitted to operate on batteries. Some were used by UPS as test vehicles. Using knowledge gleaned from working with the delivery giant, Workhorse designed its C-Series to be electric from the ground up, and analysts think it is a strong contender. The company has firm orders for 1,700 vans.In 2019, Workhorse was thrust into the national spotlight when …

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G.M. Scales Down Nikola Deal

Nikola, a start-up electric truck company that had made a big splash on Wall Street, announced a broad alliance with General Motors in September that promised to give the company critical technology, financial support and credibility with investors.But the news was quickly overtaken by claims that Nikola had exaggerated its capabilities, and the firm’s founder resigned. Investors were left to wonder whether Nikola was indeed an automotive innovator and whether G.M. had made an embarrassing mistake in associating with the start-up.After weeks of talks, the two companies announced Monday that they would work together on a …

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