Workhorse shareholders approve Motiv merger

Workhorse Group Inc., an Ohio technology company focused on zero-emission commercial vehicles, announced that at the 2025 Annual Meeting of Shareholders held on November 25, Workhorse shareholders voted to approve the merger with California-based Motiv Electric Trucks.

“We appreciate the support of our shareholders as we reach this important milestone in our pending merger with Motiv to create a leader in the medium-duty EV commercial vehicle market,” said Rick Dauch, CEO of Workhorse. “We are now poised to complete the transaction and officially bring together two innovators in the medium-duty electric vehicle space and better serve our blue-chip customer base. We look forward to enabling our shareholders to benefit from the upside potential of our combined company.”

The Class 5 and 6 Workhorse W56 step van. The company’s vehicles are designed for last-mile delivery, medium-duty operations and a growing range of specialized applications. (Photo: Workhorse)

The transaction is expected to close in the coming weeks, subject to the satisfaction or waiver of customary closing conditions, including the entrance by Workhorse and Motiv’s largest investor into a new debt financing facility and the receipt of approval from Nasdaq.

When the merger was first announced in August, Motiv said the combination would bring together two innovators in the medium-duty electric vehicle space to better serve a blue-chip customer base and enhance value for shareholders, and that the combined business will be a leader in the $23 billion medium-duty segment with a full range of Class 4 through 6 trucks.

The companies believed that through a merger they would benefit from increased scale, an expanded product portfolio and enhanced operational efficiencies to support lower unit costs.