Motiv, Workhorse merge to take on the ICE establishment
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Electric startups Motiv and Workhorse are merging to form a major commercial EV company, valued at $105 million. The merger combines Workhorse's manufacturing and dealer network with Motiv's product portfolio, aiming to serve the $23 billion medium-duty truck segment. Motiv's investor will own 62.5% of the new entity, while Workhorse shareholders will hold 26.5%. The merger is expected to close in Q4 2025, enhancing economies of scale and reducing electric truck costs.
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Source: Electrek The copyright of this article belongs to the original author/organization.
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