Workhorse Group said its shareholders have approved the company’s proposed merger with Motiv Electric Trucks, clearing a key hurdle for the transaction that will unite two manufacturers focused on medium-duty electric commercial vehicles.
The vote took place at Workhorse’s 2025 Annual Meeting of Shareholders held on Nov. 25, with final voting results filed with U.S. regulators via a Form 8-K.
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The merger is expected to close in the coming weeks, subject to several remaining conditions, including the arrangement of new debt financing involving Workhorse and Motiv’s largest investor, as well as approval from Nasdaq. The companies must also satisfy or waive other customary closing requirements before the transaction can be completed.
Workhorse designs and manufactures zero-emission commercial vehicles at its facility in Union City, Indiana, with a focus on last-mile delivery and medium-duty applications. Motiv Electric Trucks operates in the same segment, supplying electric trucks for fleet and commercial customers. The combined business is expected to serve existing customers of both companies while expanding its presence in the growing medium-duty EV market.
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Rick Dauch, chief executive of Workhorse, said the merger would strengthen the company’s market position. “The transaction positions us to serve a blue-chip customer base in the medium-duty EV segment,” Dauch said. The companies have not disclosed updated financial projections for the combined entity.