Workhorse Acquires $35M in Funding

Workhorse Group Inc. secured $35 million toward current working capital, parts acquisitions for customer purchase orders and contracts, as well as to satisfy full repayment of the senior secured notes incurred in July 2018.

Staff Writer・Editorial

Read Staff's Posts

January 5, 2019

Workhorse Acquires $35M in Funding — The company acquired the funding from Marathon Asset Management, which will provide funds in two separate tranches, the first of which is a $10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes.

Photo of Workhorse W-15 by Chris Brown.

1 min to read

The company acquired the funding from Marathon Asset Management, which will provide funds in two separate tranches, the first of which is a $10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes, according to Workhorse. The remaining $25 million will function as a revolving credit facility from which Workhorse may draw down as necessary to meet existing and future purchase orders.

Marathon is a global investment advisor with approximately $15 billion of capital under management, according to a release.

Topics:Battery-Electric Vehicles Workhorse Green Fleet

More Green Fleet

Rendering of electric vehicles charging beneath a solar-panel canopy, illustrating Inspiration Mobility Group’s acquisition of Electrada assets to expand commercial fleet electrification services.

Green Fleet•by News/Media Release•June 17, 2026

Inspiration Mobility Acquires Key Electrada Assets

Inspiration Mobility Group has acquired select assets of Electrada, adding the fleet electrification provider's team, technology, and charging infrastructure development capabilities to its energy management business.

Turning Connected Vehicle Data Into Decisions That Matter

Fleet leaders have more data than ever, but turning that data into clear, actionable decisions remains a challenge. This white paper shows how leading organizations are using connected vehicle data to improve safety, reduce costs, and optimize fleet performance. Learn how to turn insight into action across your fleet.

Are You Tracking Your Fleet's True Total Cost of Ownership?

Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.

Hybrids: Electrification Without the Challenges

For fleet managers, fuel is one of the biggest line items in the budget — and it's one hybrids can shrink without changing how your people work. Download the eBook to see the numbers, understand the technology, and get a step-by-step guide to making the switch.