Keep in mind that management reported $201 million in cash, and expects to report 2022 capital expenditures between $25 million and $35 million. The management also promised progressive ramp in manufacturing.įinally, I believe that Workhorse has sufficient liquidity to finance further development, design, and manufacturing of products. Under normal conditions, Workhorse expects to manufacture and sell vehicles in the second part of 2022.
Management also gave some information about the year 2022 that investors may like. In my view, if new announcements are made about new agreements, the stock price could trend north: Besides, management appears to be exploring other projects with the federal and state government as well as a large retailer. The company's aerospace technology successfully received the attention of the USDA for a project. With this in mind, I expect sales growth to trend north from 2023. Keep in mind that the company expects to start producing models W56 and W34 in Q3 20. In my view, with the information released in the last quarterly report, it is a great moment to review Workhorse's future prospects. Management claims to be designing and building high performance battery-electric vehicles along with cloud-based real-time telematics performance monitoring systems. Workhorse is a tech company offering sustainable and cost-effective solutions to the commercial transportation sector. In my view, even considering the risks, in the best case scenario, the company could be worth $8.5. If we add up new production of vehicles in 20 as well as the implementation of LEAN systems, the glimpse gets even better.
The company also appears to be exploring projects with the federal government and a large retailer. ( NASDAQ: WKHS) recently announced an agreement with the USDA.
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