Workhorse completes Aero divestiture; Kingsburg orders 141 W4 CC trucks

Workhorse Group Inc.

Completed Aero divestiture to ATW Partners affiliate; expects monthly cost savings of ~$375,000.
Kingsburg Truck Sales committed to purchase 141 W4 CC Class 4 EV trucks, subject to HVIP vouchers, deliveries in 2024.
Divestiture narrows Workhorse focus to commercial EV trucks; earn-out provisions allow future proceeds from contingent revenues.
Workhorse W4 CC qualifies for up to $60,000 in California HVIP incentives.

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