Hitachi Provides Inventory Financing for Workhorse Order of Trucks for Pritchard Companies

Workhorse Group received a purchase order for 500 of its all-electric C-1000 delivery vehicles from Pritchard Companies. Inventory financing will be provided by Hitachi Capital America as part of its previously announced partnership with Workhorse. The vehicles will be distributed through Pritchard Companies’ dealership locations across the United States.

“With this significant order and agreement from Pritchard, we can build upon our nationwide distribution network and expand the number of potential fleet customers that will be able to operate and own a Workhorse delivery truck,” Duane Hughes, CEO of Workhorse Group, said. “Along with HCA’s financing programs, Pritchard will be able to offer fleet customers a variety of flexible options to start using our last-mile delivery vehicles, lowering the barrier to entry for adoption and enabling total cost of ownership advantages from the outset.”

“We see this initial 500 vehicle purchase as being the first of many future orders and look forward to growing with Workhorse in 2021 and beyond,” Ryan Pritchard, COO of Pritchard Companies’ EV division, said.

“We appreciate the opportunity to be one of the first companies to commercially offer this state-of-the-art all-electric vehicle to our fleet customers and believe that the market acceptance will be resoundingly positive and swift,” Joe Pritchard, president and owner of Pritchard Companies, said.

“To us, the Workhorse C-1000 is a significant milestone in the electrification of last mile delivery trucks,” Kirk Mann, SVP and GM of transportation finance at Hitachi Capital America, said. “We are proud to be the financing partner to this important electric vehicle fleet program.”

Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector.

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