Workhorse Unveils Budget Friendly W56 Electric Van To Cut Fleet Costs

by | Mar 26, 2026 | General

Workhorse Group, Inc. (NASDAQ:WKHS) shares rose during Thursday’s premarket session. On Wednesday, the company announced that it had expanded its product lineup for last-mile delivery fleets.

New W56 Variant Targets Cost And Efficiency

Workhorse said it is adding a 140 kWh version of its W56 step van, positioning it as a lower-priced option with an estimated nominal range of 100 miles per charge at full payload, with pricing starting at $169,000, including a fully integrated composite body.

Product Expansion Backed By Market Conditions

The company also tied the timing to fuel-cost uncertainty, noting that oil prices recently exceeded $100 at their peak following Middle East disruptions and citing Goldman Sachs commentary that triple-digit oil could persist for years.

The W56 Standard Wheelbase (178″) is listed with 1,000 cubic feet of cargo space and an 11,000-pound payload, while the Expanded Wheelbase (208″) also targets 1,000 cubic feet with a 10,000-pound payload and added stability.

CEO Scott Griffith said the 140 kWh configuration came directly from customer feedback, better balancing range, durability, reliability, and performance while lowering the upfront cost for fleets.

Technical Analysis

WKHS is trading about 1.5% below its 20-day SMA ($3.36) and roughly 44.6% below its 100-day SMA ($5.98), keeping the longer-term trend pointed down even with the premarket bounce. Shares are down 87.38% over the past 12 months and are closer to the 52-week low ($3.03) than to the 52-week high ($67.32).

RSI is at 33.56, which is neutral but still near the “washed-out” zone after the stock tagged oversold conditions on 2026-03-18. MACD is at -0.2358 versus a signal line of -0.2713 (a bullish cross), with a positive histogram of 0.0356 suggesting downside pressure is easing.

RSI in the 30–50 range with a bullish MACD indicates momentum leaning bullish, but it’s happening inside a broader downtrend defined by bearish moving-average structure.

  • Key Resistance: $3.50
  • Key Support: $3.00

Earnings & Analyst Outlook

The countdown is on: Workhorse is set to report earnings on March 31, 2026 (confirmed).

  • EPS Estimate: $-8.88 (Down from a loss of 94 cents YoY)
  • Revenue Estimate: $2.50 million (Up from $1.93 million YoY)

Price Action

WKHS Price Action: Workhorse shares were up 4.09% at $3.31 during premarket trading on Thursday, according to Benzinga Pro data.

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