Like a merchant selling picks, shovels, and sluices to Gold Rush miners, Magna International is a company supplying parts to other electric vehicle makers, enabling it to potentially profit from the whole booming market rather than relying on direct consumer sales. Magna International: The value of market positioning
With current cash burn rates, Workhorse has reserves for just over five more quarters of operation, a number possibly lowered by accelerating cash burn if it pushes production up to a dozen trucks per quarter. Workhorse reported negative cash flow of $36.2 million during Q1 2021, reducing its available cash from $241.2 million at the quarter's start to approximately $205.1 million at its end. Operational expenses in the millions combined with revenue in the thousands lead to ongoing cash burn. During Q1 2021, its revenue totaled $521,000, a 520% year-over-year increase resulting from "a total of six trucks delivered in the first quarter." The company's revenue, meanwhile, remains well below $1 million per quarter. However, while either of these could yield profits in the future, Workhorse has delivered very few vehicles to date. ( OSK 3.98%) succeeds, it would also have an inside track to a broader $6 billion in total purchases of electric USPS delivery vehicles over 10 years. If its June 16 legal complaint to capture an initial $482 million production design contract awarded to Oshkosh Corp. It has a private sector order for 6,320 electric delivery trucks from Pride Group Enterprises. On paper, Workhorse has several sources of future income lined up. Workhorse: Burning cash, making few vehicles While Workhorse could triumph in the Postal Service legal contest eventually, another sector company looks bullish for EV investors based on its current merits rather than on its hypothetical future successes: Magna International ( MGA 3.13%). Its stock price also surged in early June when it briefly achieved "meme stock" status on the Reddit WallStreetBets online discussion board, though it failed to gain the lasting traction of the bigger meme stocks. Postal Service (USPS) contract that slipped through its fingers earlier this year. Since then we have worked to become one of the premiere service and parts facilities by providing what is needed to keep WORKHORSE customers driving their vehicles.Electric vehicle (EV) company Workhorse Group ( WKHS 6.34%) recovered some lost stock value last month as it prepares a lawsuit to win back a $482 million U.S. producing RV and commercial chassis as well as complete commercial vehicles commonly know as step vans. In 2000, we became a dealer for WORKHORSE CUSTOM CHASSIS which was shortly after their introduction as a separate manufacturer from G.M. These include trucks, vans and forklifts. We have been in business since 1991 providing parts and service on all types of vehicles including RV’s (motor homes), commercial, fleet and industrial vehicles. This includes the WORKHORSE and General Motors motor home and commercial chassis. is your source for parts as well as service or warranty repairs. This includes the commercial and motor home chassis as well as body components for delivery van bodies. is your factory authorized source for parts, service and warranty repairs. Looking for parts for your WORKHORSE or General Motors P-chassis?
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