Workhorse's 200-Truck Order Lands Against 26 Deliveries in a Quarter

Gateway Fleets has ordered 200 more Workhorse W56 electric step vans, on top of the 100 it ordered earlier in 2026. Workhorse delivered 26 vehicles in its most recent reported quarter, so the 300 trucks represent about 11.5 quarters of deliveries at that pace.

Workhorse announced the order on Sept. 30 in a press release. Gateway, a California provider of bundled electric trucks and charging, plans to lease the vans mainly to independent last-mile package operators. Deliveries are scheduled for the second half of 2027 through 2028, the release said. Electrek reported the same terms the same day.

What a W56 is

The W56 is a Class 5 or Class 6 step van with a 210 kWh battery, a quoted range of up to 150 miles, a 10,000-pound payload and 1,000 cubic feet of cargo space, according to the release. Workhorse builds it in Union City, Indiana, which the company says can produce more than 5,000 vehicles a year. It says it has delivered more than 1,100 vehicles with more than 21 million miles accumulated.

Workhorse Chief Executive Scott Griffith said in the release: "Customers are seeking stability and lower operating costs associated with electric trucks, without sacrificing safety or performance." Jamie Miller, Gateway's chief revenue officer, said: "Getting the truck on the road is only the beginning."

The pace the order requires

Spread across the six quarters from the third quarter of 2027 through the fourth quarter of 2028, 200 vans is about 33 a quarter. Workhorse's second-quarter results, released Aug. 13, show 26 vehicles delivered, up from four in the second quarter of 2025. The first-quarter figure was 21.

1. Q1 2026 delivered21 vehicles
2. Q2 2026 delivered26 vehicles
3. Gateway follow-on, per quarter needed33.3 vehicles

Source: Workhorse Q1 and Q2 2026 results; required pace computed as 200 vans over six quarters

The plant is not the constraint: 5,000 vehicles a year is about 1,250 a quarter, against 33. What limits delivery is the money that turns a purchase order into a built truck.

What the quarter cost

Item	Q2 2026	Source
Revenue	$3.6 million	Workhorse Q2 release
Cost of sales	$11.0 million	Workhorse Q2 release
Gross loss	$7.5 million	Workhorse Q2 release
Net loss	$20.2 million	Workhorse Q2 release
Cash at June 30	$9.6 million	Workhorse Q2 release

Divided by 26 vehicles, revenue is about $138,000 a vehicle and cost of sales about $423,000. Treat those as rough, since revenue and cost of sales may include items other than trucks. The direction is the point: Workhorse spent $11.0 million to book $3.6 million.

Cash was $9.6 million at June 30, plus $0.7 million restricted, after the company drew $20.0 million under a Cash Flow Credit Agreement, bringing that facility to $30.0 million outstanding, and $18.3 million under a Customer Order Credit Agreement. It borrowed another $10 million after the quarter ended. At March 31 cash had been $0.6 million, down from $12.2 million at the end of 2025, according to the first-quarter release.

How the order counts in the backlog

The first-quarter release counted a 100-vehicle Gateway order and a 100-vehicle Purolator order as a contracted backlog of more than 200 vehicles since the Motiv merger closed on Dec. 15, 2025. Workhorse's customers also include Aramark, Cintas and FedEx, Electrek said. The new 200 would double that figure to more than 400 vehicles if both earlier orders remain open.

The second-quarter release said only that the sales pipeline "has more than doubled since the start of 2026". It did not give a count. Chief Executive Griffith described the company there as "transforming from a pure-play manufacturer of electric commercial vehicles into a new, American industrial technology company," and said production of a mobile A.I. data center is expected to begin in 2027.

The press release calls the new order a purchase order. It does not say whether Gateway has arranged the lease financing that would pay for it, or what price per truck applies. Workhorse launched a cheaper 140 kWh configuration and promotional pricing on the 210 kWh version in the first quarter, and the releases The Terminal read give neither price.

The Terminal has also looked at how vehicle schedules and battery fleets look once the denominator is shown, in Rivian's R2 lidar delay and Vermont's home-battery fleet. The next Workhorse result is the third-quarter report, which will show whether deliveries climbed past 26.