Workhorse Group (Nasdaq: WKHS) shareholders have approved the company’s merger with Motiv Electric Trucks, clearing a key step toward combining two medium-duty electric vehicle manufacturers.
Shareholders approve merger
CINCINNATI — Workhorse Group said its shareholders voted in favor of the company’s merger with Motiv Electric Trucks at the 2025 Annual Meeting held earlier today. The companies expect the transaction to close in the coming weeks, subject to customary closing conditions, including financing and regulatory approvals.
Workhorse has described the combination as creating a stronger competitor in medium-duty electric trucks, with an internal target of approximately $20 million in cost and operational synergies by 2026.
About the companies
- Workhorse Group develops and manufactures electric commercial vehicles and related technologies for the medium-duty segment.
- Motiv Electric Trucks builds medium-duty electric trucks and buses. The company collaborates with established truck body manufacturers, offering an electrified chassis designed as a drop-in replacement on existing production lines.
Motiv’s products are available to public-sector agencies through Sourcewell via a partnership with National Auto Fleet Group, providing an additional procurement channel for municipalities and other government entities.
What’s next
Following the shareholder vote, the companies will work to complete remaining closing requirements. Until the transaction closes, both businesses continue to operate independently.
Industry context
The proposed combination aligns with broader adoption of battery-electric platforms for city and regional routes in the medium-duty segment, driven by fleet sustainability targets and zero-emission regulations. A consolidated product lineup and expanded procurement pathways could streamline electrification options for vocational and municipal fleets once the merger is finalized.