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Benzinga Exclusive, fournis par [vid_author_name]. La description se trouve ci-dessous :« Cette interview avec le CFO de Workhorse Steve Schrader, a déjà été enregistrée parmi les sujets abordés: 00:00 – 00:10 Le statut du contrat USPS – 05:43, s’ils offriront plus d’attention à la livraison – 08:20 Pourquoi les stocks EV comme WKHS ont attiré tant d’attention cette année – 18:54 La conversation Schrader met en évidence – Si l’entreprise est toujours en cours pour livrer entre 300 et 400 véhicules cette année, comme ils l’ont précédemment dit – sur la façon dont la pandémie a eu un impact sur les commandes – Combien de cheval de bataille se compare à certaines des autres sociétés EV qui ont attiré beaucoup d’attention des investisseurs dans 2020 autres sujets discutés – cela est-il de la réaction récente du contrat? -Condeurs de Workhorse et Lordstown (NASDAQ: RIDE) Capacités de production -Comment les activités de drones progressent et le calendrier pour la certification FAA? -Quelles facteurs feraient obstacle à l’entreprise qui augmente la production? -Matalyseurs pour la société que les investisseurs devraient connaître l’article complet avec Steve Schrader sur benzinga.com https://www.benzinga.com/news/20/10/18108750/workhorse-cfo-teve-schrader-and-whatter-stands /////////////déré Out /////// NOUVELLES GRATUITS BOURCES STOCKES ➡️ https://www.benzinga.com/ Education en direct à Benzinga Boot Camp ➡️ https://rb.gy/abuhzl benzinga merch ➡️ https://rb.gy/3pyb0x jointer benzinga’s gatte Pour des nouvelles plus rapides et des données de marché approfondies, consultez Benzinga Pro. Pour un essai gratuit de deux semaines, rendez-vous sur http://pro.benzinga.com/register ».
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Drone et Vidéo : L’Excellence de la Production Aérienne
Quels sont les meilleurs conseils pour choisir une agence de production drone ?
Facteurs importants à évaluer
Pour apprécier la qualité des prestations, l’expérience et le portfolio d’une agence doivent être examinés. En suivant les normes aériennes, la sécurité lors des prises de vue est assurée. La combinaison d’une expertise technique et de la maîtrise des dernières technologies est un atout pour un rendu professionnel.
En quoi est-il bénéfique de travailler avec des spécialistes certifiés ?
Les télépilotes expérimentés assurent des vols en toute sécurité tout en se conformant aux réglementations en vigueur. En offrant un soutien personnalisé durant le projet, on peut répondre aux attentes du client et perfectionner le résultat final.
Rendez votre communication plus percutante avec une vidéo aérienne !
En optant pour une agence de production de drones, il est possible d’obtenir des visuels spectaculaires et de promouvoir une entreprise. La réussite d’un projet se mesure par sa capacité à attirer le public et à renforcer l’identité visuelle d’une marque. Un spécialiste peut vous aider à redéfinir votre communication.
Grâce à la fusion de SupraDrone et E-Media Production, la production audiovisuelle entre dans une nouvelle ère. L’alliance de ces deux expertises garantit des vidéos d’une qualité exceptionnelle. Plus d’informations sur l a page dédiée.
Pourquoi opter pour une société de production de drones ?
? Utiliser des drones en production audiovisuelle présente de nombreux avantages
Avec des prises de vue aériennes à couper le souffle, les drones redéfinissent la production vidéo pour un rendu cinématographique. Ils permettent une plus grande flexibilité, que ce soit pour la captation en intérieur ou en extérieur. Différentes des méthodes traditionnelles, ils mettent à disposition une alternative économique pour les prises de vue par grue ou hélicoptère.
Une influence directe sur la qualité des images aériennes
Les photographies prises en haute résolution assurent une qualité d’image exceptionnelle grâce aux technologies 4K et 8K. Des vidéos immersives adaptées aux films d’entreprise, à la publicité et au cinéma peuvent être réalisées grâce à des angles originaux et à une fluidité des transitions.
?Matériel et technologies employés
Les drones professionnels à privilégier
Les drones tels que le DJI Mavic 3, l’Inspire 3 ou les modèles FPV sont choisis en raison de leur efficacité et de leur capacité à s’adapter à divers types de tournages. En tenant compte des besoins du projet, chaque drone est sélectionné pour assurer une qualité d’image optimale.
Les accessoires supplémentaires sont d’une grande importance
Les caméras et capteurs professionnels fournissent une définition remarquable. Des microphones spécialisés permettent d’améliorer la qualité audio. Des outils avancés permettent d’obtenir un montage fluide et précis en post-production.
Processus de création et de finition
Les étapes déterminantes d’une œuvre audiovisuelle par drone
Chaque projet débute par une évaluation des besoins et l’élaboration d’un concept clair. La localisation des sites et l’organisation du tournage sont cruciales pour prévoir les défis techniques. Des pilotes aguerris se chargent de la prise de vue pour garantir des images de qualité. Le montage et la post-production font partie de la phase finale pour garantir un rendu optimal.
Approches de montage et d’édition
Pour obtenir une esthétique visuelle cohérente, il est essentiel de corriger les couleurs et d’étalonner. En ajoutant des effets spéciaux et des transitions captivantes, on améliore l’impact visuel des vidéos. Pour une immersion et une émotion accrues, une bande sonore bien réalisée, avec musique et voix-off, est essentielle.
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#USPS #Drones #Production #Outlook #Workhorse #CFO #Steve #Schrader #Benzinga #Exclusive
Retranscription des paroles de la vidéo: here with steve schrader steve is of course the cfo of workhorse steve thank you so much for taking time today thanks for having me so you and i spoke in july like mid to late july why don’t you update me on new developments since then uh what’s changed with the business any new announcements that you’ve had what has changed for you since then yeah i think several things i think we’ve gotten a handful more of trucks out the door i think we announced the hitachi agreement after the july uh interview as well and hitachi’s in here for a couple different reasons doing an operational assessment of our plant and trying to uh see of going from maybe five to uh ten a day to forty or fifty what’s the best plan to do that at our facilities um and um i think we probably have had and i can’t remember exactly when the time of our interview but we probably raised more money as well in that time period so a more recent one we raised about 200 million dollars of a convertible debenture and the exchange price on that is about 35 for the stock price to be exchanged in the stock so that 200 million dollars gives us the ability to not only increase production into 2021 at a faster rate but develop new products like a class 2 van and refrigeration or combination of both of those um and at the same time um you know get rid of some higher cost debt that we had on the balance sheet as well so you mentioned some uh getting products out the door and some deliveries are you still on pace for that guidance i believe you had guided 300 i want to say 300 deliveries or 400 deliveries uh for the year most of them you said would be delivered in the fourth quarter which we’re of course in right now so are you still on pace for that guidance well we got everything in place right now so we got the labor and materials are coming in and from our standpoint we still have the three to four hundred that we have out there and that’s our goal um right now doing it do two facilities at both the union city and our loved one location so um yeah as far as we are going right now we’re we’re good on that uh let’s talk about this contract that you may be aware of the u.s postal service uh this is the contract that uh you’ve talked about investors have talked about i thought we were going to get uh some sort of uh decision from the usps last week or a couple weeks ago now they’re saying i guess by the end of the year can you update us there on on what do you know about the timeline yeah i think the post office i mean the only thing we could talk about is what’s public and the post office i think has always said several different times that it’d be by the end of the year so i think we’ll all just kind of see what happens by the end of the year can you just refresh us on what this deal would mean for workhorse well it’s uh the post office is bidding on 165 000 vehicles so it’s um a huge fleet opportunity and i think from our standpoint it’d be transforming right from a standpoint of just now delivering a few vehicles and getting some revenues in and we have a backlog of about 1200 orders but you know a post office would be 165 000 vehicles over a certain time period too so be transforming um be a big opportunity for us yeah do you expect when they do uh award the contract do you expect to be like the only recipient the only winners or do you expect to be one of the one of several or do you have any expectations there i don’t think we have expectations one way or the other it’s it’s uh again we can’t comment on it i think it’s up to the post office and what they want to do and at least publicly they said they let everybody know by the end of the year got it so in the event hypothetically that you do get this contract uh you would have to produce a lot of a lot of trucks right uh who would be doing that production because i know you also have a stake in lawrencetown motors 10 stick there so between you and lawrencetown who’s actually doing that production there i think we have a couple options we have a union city indiana factory right now that’s 265 000 square feet and that used to do about 60 000 navistar chassis back in the day so it certainly has the capacity to do it there it would maybe need some automation um from that standpoint but i think at the same time we have lordstown out there as well um as a strategic alliance and lordstown’s a six million square foot facility that could you know easily accommodate um both c series and post office if we chose to kind of do subcontracted out of lordstown so um again i think we have options so is this a situation where like you get let’s say you get the contract awarded on a thursday and by like i guess how long between the the decision and let’s say you get it uh how long between then and production start time is that like can you turn around and you start going well again i can’t comment on what the post office would want to do um so i i think we’ll just going to leave it at that i think you could probably imagine the post office is not going to want to be a goal immediately if they award them so there would be probably a time frame for whoever won the word got it got it and then as far as other orders other things that workhorse has out there aside from the contract last we talked you mentioned a couple of big clients and orders based from ps and dhl are there other big orders out there well we have about 1200 back orders right now with uh ups and dhl we’re certainly talking a lot of players at this point time i expect more orders by the end of the year but those are the current orders and then best you can tell how has uh coven sort of impacted your order book yeah it probably just delayed it um like everybody else it it delayed it we initially wanted to kind of get um orders um and manufactured and delivered earlier in the year and we kind of delayed that you know two or three months um and now we’re kind of doing it in last quarter um if so i’m assuming at the same time period it probably actually also delayed our customers um from a standpoint of uh considering you know whether they would uh order this year or a later time period so everybody has had to deal with it so not just us yeah uh and then i just read i guess it was last week uh or sometime earlier earlier in october press release announcing a voucher program in new york state for for your trucks i know you also have one in california can it uh tell us about this doctor program and and what other states it could potentially be in right now it’s california new york and they have about they’re a little different obviously programs but they have up to 40 to 50 000 per vehicle that is an opportunity for customers that they’re buying that they can apply directly to our our purchase price so it certainly helps speed up uh orders i think from medicine in those states i don’t know if other states are considering it right now there’s certainly 13 other states that are kind of under the carb rules that california uses so eventually you think maybe those states could also offer vouchers but there are also states new york has also thrown out i think a 700 million dollar program for infrastructure of actually running that building out the infrastructure and running it through the utilities so i think both from a state perspective and a federal perspective i think politically things are going in the ev favor of encouraging it as much as as possible and um and getting people to use evs and buying them yeah and just speaking of the entire eevee industry what do you make of the fact that the story has been extremely hot not just with you guys but there are a lot of other new uh electric vehicle stocks investments out there this year maybe you know tesla and neo or like if those are the established players there’s a dozen new ones uh that have come to come to pass this year what do you make of the fact that we’ve been talking about electric vehicles for what seems like forever but this year specifically the store has gotten really really hot i think it’s it’s both things i think it’s from a consumer standpoint the consumers are asking for you know we’re finding fleet owners that are interested in the cost savings that it provides um and i’m certainly on the passenger side and the pickup truck side too consumers are asking for it so i think that’s where investors are are noting that as well and that’s the the new hot sector so i think they’re kind of driving each other both uh people now investors are kind of asking you know certain oems why aren’t you doing things in in the ev sector and demanding it and and from an environmental standpoint too because they also invest from a sustainability standpoint so i think it’s it’s driven both by the consumer market and the um investment market you know from workhorses standpoint i think in comparison to some of the other you um ev companies out there i think we look comparison real relative we look pretty good from standpoint we’re actually manufacturing and delivering right now and some other of the customer or other the companies are really just have maybe chalkboard designs that will do something in 2022 or 2023. so i think it made us look relatively um and relatively pretty good and not only that i think we also had kind of the drone opportunity and and um and like you said that possibly a post office opportunity too what do you make of the fact that workhorses stock has been just so volatile this year it’s gone up it’s gone down maybe moves were justified maybe they weren’t maybe the market got ahead of itself maybe they didn’t but what do you make of just the volatility of of your stock i i imagine you would say you know you don’t look at it but it it’s hard not to right well yeah i mean i obviously we look at it um but i don’t know if we know any more than you i think it’s the evie secret overall i think it’s gone up and it’s gone down and you know um so it it’s good being in a hot sector but it also is good that we’re actually at a stage where things that we’ve done two or three years are now kind of paying off where we’re actually manufacturing delivering hopefully getting new orders um so i think uh you know you try to do the best you can you try to kind of deliver and execute and if you execute then i think at the end of the day the stock takes care of itself it definitely seems like the sector has cooled off a little bit here for the past couple months do you think that there was just too much excitement over the summer that investors got a little bit over their skis you know it’s hard to tell you know it really is hard to tell i think it still is the market in the next 10 years i think people are going to be buying more evs and i think that’s what investment investors are looking at and so i think it’s it’s it certainly is a trend going forward you know day to day or quarter to quarter you know stocks going to go in and out um industries go in and out and um investments kind of go up and down so it’s hard to kind of tell exactly what what the investors are looking at sometimes yeah and you know you can’t necessarily help it because if you get caught up in being in like the new the new it sector the new industry you you obviously can’t control that uh the other side of that coin is it also brings about intention attention uh from short sellers uh and uh and and people who are just saying this entire industry is just completely ahead of itself and not where investors value it right now uh so what do you say to the skeptics out there who say that whether it’s you or or any other company you know in in this industry that electric vehicles uh is well a great idea because the valuations of these companies yours included are just too high for where they should be right now well i mean again it’s part of the stock market right you have shorts out there that uh want to make that bet sometimes um as well and it’s just you know i i i can’t tell you whether it’s it’s to me i think it is the way that the industry is going i think it’s where the consumers are going whether it be fleet customers um that we appeal to um last mile delivery or just consumers overall so i think it’s certainly the way over the next decade um but you know uh from quarter to quarter and whether you’re short or long you know people are going to make different bets i don’t know if i can really provide any sort of uh direction for that yeah last we had talked i believe you had mentioned uh of course part of your technology aside from the trucks is the drones you have some patents for that uh how is that going it’s going well you know from a drone uh if you want to use a drone in a long-term commercial business you need to get faa certifications you need to get a type certification and a production certification so that process takes about 12 to 18 months so um we’re going we’re starting that process right now and going through that time period so again you can do things on an exception basis and a trial and a pilot basis but if you want to make it a long-term business you need to get these certifications and that’s the process we’re starting right now how long of a process is that about 12 to 18 months okay yeah so so you just started that now you’re starting out now okay so we should be hearing any day now is what you’re saying you know good for the faas they obviously want to make sure that these drones are safe for everybody from the standpoint of package delivery um and so they make you fly a lot i mean people buy over 400 hours and a lot of different missions and um and we’re going to be part we’re going to be doing that and again in 12 to 18 months hopefully we’ll get certifications and then we can actually uh have a long-term business that we think can be just as lucrative as the truck business so how does that work so ffa says fly this drone from point to point b drop this package here and then you do it well i believe they i don’t know if i know i don’t know if they’re that specific on what you need to do on the actual testing i do know that they make you drop they fly make you fly over 400 hours which is a lot of flying you know so uh and they certainly have make sure you have the manuals and all the backup and and run different tests so they’re they’re pretty specific and um just like they are with an airline you know of getting a faa clearance so it’s it’s a long process and uh and we’re ready to go through it the idea of drones of course seems super appealing in a pandemic uh i i would certainly hope that by the time you get through the fda process that we are we are past this um by which point i’m not sure uh if if the appeal of if drones will be as appealing or do you think that’s that’s not the case i will say that the interest in the pandemic has increased exponentially so you’re right you know um and and people are moving to uh or what they’re asking for i guess you should say is not only that deliveries have increased but they like to have touchless um we we do believe some of the things that have happened in the pandemic will be long term but what i will say is that even if if some of these things fade away is i think package delivery makes a lot of sense just from an economical standpoint so a ups truck out there right now dry it it’s in fuel maintenance that costs a dollar per mile to drive those trucks our truck costs 40 cents a mile so that’s substantially less a drone can do the same thing for under four cents a mile so the economics of using a drone you know basically just putting my driver put a package um in a little basket hit a button and have the driver drive one way in the package go the other way go over the package and come back to the drone or back to the truck certainly makes a lot of sense to uh package delivery industry so aside from drones what are the other long-term ramifications for you guys from code you know i think long term that’s it’s both businesses you know from the standpoint delivery trucks um just it was the fastest growing market uh in general it’s growing about 15 a year prior to the pandemic um and now i think uh it’s it’s increased more uh so i think it’s the delivery truck business and the drone both kind of have lend itself to more deliveries and and that’s really kind of what uh the pandemic i think spurred as people staying at home getting more deliveries so is the bottom line for for workhorse right now that you guys are are in like show me mode right you like you have the technology now you need to actually make the trucks is that is that the bottom line for for your company yeah that’s the bottom line right now it’s execution right we have the truck we have the drone we have the truck that we’re actually manufacturing and delivering in this quarter um but we have to do it we have to execute at the end of the day so and then if we can build on that from a standpoint of kind of getting the 300 or so out here this quarter then we can expand on that next year you’re not going to tell me what your delivery guidance if you have any would be for next year but can you say whether or not you will even give delivery guidance for the next year i think we probably will i mean i think right now for trying to basically at 100 a month we’ll say right in the fourth quarter the next goal will be how soon can you get to 200 a month right and then even beyond that so i can’t can i give you a a a month in 2021 that will be a 200 a month no i can’t right now but that’s certainly the next goal what are the most important numbers that investors need to know is it deliveries is that the biggest thing or are there other metrics that you think investors should be closely watching well i think there’s two things i think when you go from zero to mass production and this is for any manufacturer right first is kind of get the volume up and the next thing is when is that first gross margin positive month right everybody has to go through it when they’re not as efficient as they want to be or they’re not getting the volume disk at state discounts that they want so that’s what investors are looking at i think for the most part is can you get to the volume that you need to get to to get that first kind of gross margin positive month and then be gross margin profitable what would be something that could theoretically stand in the way of of your ability to scale that production because i obviously am not an engineer i do not know how hard it is though i imagine it’s quite hard what is something that that could stand in the way of that well i think like for any manufacturer it’s probably going to be if you had material disruptions you know didn’t get the material on time because i think higher in the labor you know you train them and you get them efficient on it and from actual assembly standpoint and and think of ours as more sub-assemblies in an assembly line um yeah i think at the end of the day i think it’s probably would be material disruptions possibly would be a you know a possibility uh and then just to wrap up here steve what is the next big catalyst that is on your radar for the company for investors it’s probably your next earnings report which i imagine will be in a few weeks or at the very least at some point before the end of the year uh that day it’s not announced yet at the time that we’re doing this but what is the next catalyst for for you guys as a business is it the usps contract is there something else out there well i think uh in the short term it’s like it’s the uh getting the volume up you know we’ve talked about the third quarter and the earnings release we’ve talked about just getting a handful of trucks out our goal was really focused towards the fourth quarter and getting the the labor and the materials and everything in place and and the production line and the set of assemblies in place to actually produce more volume so i think it’s hitting the volume that we want to hit as next catalyst if the post office makes an award and we’re part of that that’s certainly a catalyst um and then moving on to 2021 and getting more orders as well by the end of the year so i think those are all two or three things to look at from our standpoint i’m just curious also how far out do you feel comfortable projecting things like delivery i mean obviously maybe you’ll do it for the whole year but is this something that you are comfortable projecting out two years or anything beyond the one year horizon or or do you have to focus on this sort of one year at a time i think we have to focus on the year in front of us we have a backlog that we have to deliver we’re starting production right now on that backlog so i think it’s it’s really satisfying that’s that backlog certainly with the start this quarter and then into 2021 and if we get new orders we added that backlog and we can go from there and and maybe we can get uh get a little bit longer term uh vision from that stand from from that standpoint but i think right now it’s really just kind of getting the trucks out the door in this fourth quarter that’s what i got steve schrader is the cfo of workhorse steve thanks a lot for time today thank you i appreciate it and remember zingers if you want to keep up with everything on electric vehicles then go to benzynga.com electric vehicles and you can go ahead and stay with everything on the move and of course if you want to go ahead and be faster you can go ahead and profit faster with stock market research with benzinga pro best part is right now you can start a two-week trial without even using a credit card so go ahead and click the link and check us out .
Déroulement de la vidéo:
0.16 here with steve schrader steve is of
0.16 course the
0.16 cfo of workhorse steve thank you so much
0.16 for
0.16 taking time today thanks for having me
0.16 so you and i spoke in july like mid to
0.16 late july
0.16 why don&;t you update me on new
0.16 developments
0.16 since then uh what&;s changed with the
0.16 business any new announcements that
0.16 you&;ve had
0.16 what has changed for you since then
0.16 yeah i think several things i think
0.16 we&;ve gotten a handful more of trucks
0.16 out the door
0.16 i think we announced the hitachi
0.16 agreement after the july
0.16 uh interview as well and hitachi&;s in
0.16 here for
0.16 a couple different reasons doing an
0.16 operational assessment of our
0.16 plant and trying to uh see
0.16 of going from maybe five to uh ten
0.16 a day to forty or fifty what&;s the best
0.16 plan to do that
0.16 at our facilities um and um i think we
0.16 probably have had and i can&;t remember
0.16 exactly when the time of our interview
0.16 but we probably raised more money
0.16 as well in that time period so a more
0.16 recent one we raised about 200 million
0.16 dollars
0.16 of a convertible debenture and the
0.16 exchange price on that is about 35
0.16 for the stock price to be exchanged in
0.16 the stock so that 200 million dollars
0.16 gives us the ability to
0.16 not only increase production into 2021
0.16 at a faster rate
0.16 but develop new products like a class 2
0.16 van and refrigeration or combination of
0.16 both of those
0.16 um and at the same time um
0.16 you know get rid of some higher cost
0.16 debt that we had on the balance sheet as
0.16 well
0.16 so you mentioned some uh getting
0.16 products out the door and some
0.16 deliveries
0.16 are you still on pace for that guidance
0.16 i believe you had guided
0.16 300 i want to say 300 deliveries or 400
0.16 deliveries
0.16 uh for the year most of them you said
0.16 would be delivered
0.16 in the fourth quarter which we&;re of
0.16 course in right now so
0.16 are you still on pace for that guidance
0.16 well we got everything in place right
0.16 now so we got the labor and materials
0.16 are coming in
0.16 and from our standpoint we still have
0.16 the three to four hundred that we have
0.16 out there and
0.16 that&;s our goal um right now doing it do
0.16 two facilities
0.16 at both the union city and our loved one
0.16 location so
0.16 um yeah as far as we are going right now
0.16 we&;re
0.16 we&;re good on that uh let&;s talk about
0.16 this contract that you may be aware of
0.16 the u.s postal service
0.16 uh this is the contract that uh
0.16 you&;ve talked about investors have
0.16 talked about i thought we were going to
0.16 get
0.16 uh some sort of uh decision from the
0.16 usps
0.16 last week or a couple weeks ago now
0.16 they&;re saying i guess
0.16 by the end of the year can you update us
0.16 there on on what do you know about the
0.16 timeline yeah i think the post office i
0.16 mean the only thing we could talk about
0.16 is what&;s public
0.16 and the post office i think has always
0.16 said several different times that it&;d
0.16 be by the end of the year
0.16 so i think we&;ll all just kind of see
0.16 what happens by the end of the year
0.16 can you just refresh us on what this
0.16 deal would mean for workhorse
0.16 well it&;s uh the post office is bidding
0.16 on 165 000 vehicles so it&;s
0.16 um a huge fleet opportunity and
0.16 i think from our standpoint it&;d be
0.16 transforming right from a standpoint of
0.16 just
0.16 now delivering a few vehicles and
0.16 getting some revenues in
0.16 and we have a backlog of about 1200
0.16 orders
0.16 but you know a post office would be 165
0.16 000 vehicles over a certain time period
0.16 too
0.16 so be transforming um be a big
0.16 opportunity for us
0.16 yeah do you expect when they do
0.16 uh award the contract do you expect to
0.16 be
0.16 like the only recipient the only winners
0.16 or do you expect to be one of the
0.16 one of several or do you have any
0.16 expectations there
0.16 i don&;t think we have expectations one
0.16 way or the other it&;s it&;s uh
0.16 again we can&;t comment on it i think
0.16 it&;s up to the post office and what they
0.16 want to do and
0.16 at least publicly they said they let
0.16 everybody know by the end of the year
0.16 got it so in the event hypothetically
0.16 that
0.16 you do get this contract uh you would
0.16 have to produce a lot of
0.16 a lot of trucks right uh who would be
0.16 doing that production because i know you
0.16 also have
0.16 a stake in lawrencetown motors 10 stick
0.16 there
0.16 so between you and lawrencetown who&;s
0.16 actually doing that production there
0.16 i think we have a couple options we have
0.16 a union city indiana factory right now
0.16 that&;s 265
0.16 000 square feet and that used to do
0.16 about 60 000 navistar chassis
0.16 back in the day so it certainly has the
0.16 capacity to do it there
0.16 it would maybe need some automation um
0.16 from that standpoint but i think
0.16 at the same time we have lordstown out
0.16 there as well um as a strategic
0.16 alliance and lordstown&;s a six million
0.16 square foot facility
0.16 that could you know easily accommodate
0.16 um
0.16 both c series and post office if we
0.16 chose to kind of do
0.16 subcontracted out of lordstown so um
0.16 again i think we have options
0.16 so is this a situation where like you
0.16 get let&;s say you get the contract
0.16 awarded
0.16 on a thursday and by like i guess how
0.16 long between
0.16 the the decision and let&;s say you get
0.16 it uh how long between then
0.16 and production start time is that like
0.16 can you turn around
0.16 and you start going well again i can&;t
0.16 comment on what the post office would
0.16 want to do
0.16 um so i i think we&;ll just going to
0.16 leave it at that
0.16 i think you could probably imagine the
0.16 post office is not going to want to be a
0.16 goal immediately
0.16 if they award them so there would be
0.16 probably a time frame for whoever won
0.16 the word
0.16 got it got it and then as far as other
0.16 orders other things that workhorse has
0.16 out there aside from the contract
0.16 last we talked you mentioned a couple of
0.16 big clients and orders based from ps and
0.16 dhl are there other big orders out there
0.16 well we have about 1200 back orders
0.16 right now with uh
0.16 ups and dhl we&;re certainly talking a
0.16 lot of players at this point time i
0.16 expect more orders by the end of the
0.16 year
0.16 but those are the current orders and
0.16 then best you can tell
0.16 how has uh coven sort of impacted
0.16 your order book yeah
0.16 it probably just delayed it um like
0.16 everybody else it it delayed it we
0.16 initially wanted to kind of get um
0.16 orders um and manufactured and delivered
0.16 earlier in the year and we kind of
0.16 delayed that you know two or three
0.16 months
0.16 um and now we&;re kind of doing it in
0.16 last quarter um if
0.16 so i&;m assuming at the same time period
0.16 it probably actually also delayed our
0.16 customers
0.16 um from a standpoint of uh considering
0.16 you know whether they would uh
0.16 order this year or a later time period
0.16 so
0.16 everybody has had to deal with it so not
0.16 just us
0.16 yeah uh and then i just read
0.16 i guess it was last week uh or sometime
0.16 earlier earlier in october
0.16 press release announcing a voucher
0.16 program
0.16 in new york state for for your trucks i
0.16 know you also have one
0.16 in california can it uh tell us about
0.16 this doctor program and
0.16 and what other states it could
0.16 potentially be in
0.16 right now it&;s california new york and
0.16 they have about
0.16 they&;re a little different obviously
0.16 programs but they have up to 40 to 50
0.16 000 per vehicle
0.16 that is an opportunity for customers
0.16 that they&;re buying that they can apply
0.16 directly to our our purchase price so it
0.16 certainly
0.16 helps speed up uh orders i think from
0.16 medicine in those states
0.16 i don&;t know if other states are
0.16 considering it right now there&;s
0.16 certainly 13 other states that
0.16 are kind of under the carb rules that
0.16 california uses
0.16 so eventually you think maybe those
0.16 states could also offer vouchers
0.16 but there are also states new york has
0.16 also thrown out i think
0.16 a 700 million dollar program for
0.16 infrastructure of actually running that
0.16 building out the infrastructure and
0.16 running it through the utilities so i
0.16 think both from a state perspective and
0.16 a
0.16 federal perspective i think politically
0.16 things are going in the ev
0.16 favor of encouraging it as much as
0.16 as possible and um and getting people to
0.16 use evs
0.16 and buying them yeah and just speaking
0.16 of the entire
0.16 eevee industry what do you make of the
0.16 fact that
0.16 the story has been extremely hot not
0.16 just with you guys but there are a lot
0.16 of other
0.16 new uh electric vehicle
0.16 stocks investments out there this year
0.16 maybe you know tesla and neo or like if
0.16 those are the established players
0.16 there&;s
0.16 a dozen new ones uh that have come to
0.16 come to pass this year
0.16 what do you make of the fact that we&;ve
0.16 been talking about electric vehicles for
0.16 what seems like forever but this year
0.16 specifically
0.16 the store has gotten really really hot
0.16 i think it&;s it&;s both things i think
0.16 it&;s from a consumer standpoint the
0.16 consumers are asking for you know we&;re
0.16 finding fleet owners that are
0.16 interested in the cost savings that it
0.16 provides
0.16 um and i&;m certainly on the passenger
0.16 side and the pickup truck side too
0.16 consumers are asking for it
0.16 so i think that&;s where investors are
0.16 are noting that as well
0.16 and that&;s the the new hot sector so i
0.16 think they&;re kind of driving each other
0.16 both
0.16 uh people now investors are kind of
0.16 asking you know
0.16 certain oems why aren&;t you doing things
0.16 in in the ev
0.16 sector and demanding it and and from an
0.16 environmental standpoint too because
0.16 they also invest
0.16 from a sustainability standpoint so i
0.16 think it&;s it&;s driven both by the
0.16 consumer market
0.16 and the um investment market you know
0.16 from
0.16 workhorses standpoint i think in
0.16 comparison to some of the other
0.16 you um ev companies out there
0.16 i think we look comparison real relative
0.16 we look pretty good from standpoint
0.16 we&;re actually
0.16 manufacturing and delivering right now
0.16 and some
0.16 other of the customer or other the
0.16 companies are
0.16 really just have maybe chalkboard
0.16 designs that will do something in 2022
0.16 or 2023.
0.16 so i think it made us look relatively um
0.16 and relatively pretty good and not only
0.16 that i think we also had kind of the
0.16 drone opportunity and and um
0.16 and like you said that possibly a post
0.16 office opportunity too
0.16 what do you make of the fact that
0.16 workhorses stock has been just
0.16 so volatile this year it&;s gone up
0.16 it&;s gone down maybe moves were
0.16 justified maybe they weren&;t maybe the
0.16 market got ahead of itself maybe they
0.16 didn&;t
0.16 but what do you make of just the
0.16 volatility of of your stock i i imagine
0.16 you would say you know you don&;t look at
0.16 it but it it&;s hard not to right
0.16 well yeah i mean i obviously we look at
0.16 it
0.16 um but i don&;t know if we know any more
0.16 than you i think it&;s the evie secret
0.16 overall i think it&;s gone up and it&;s
0.16 gone down and you know
0.16 um so it it&;s good being in a hot sector
0.16 but it also is good that we&;re actually
0.16 at a stage where things that we&;ve done
0.16 two or three years are now kind of
0.16 paying off
0.16 where we&;re actually manufacturing
0.16 delivering hopefully getting new orders
0.16 um so i think uh you know
0.16 you try to do the best you can you try
0.16 to kind of deliver and execute
0.16 and if you execute then i think at the
0.16 end of the day the stock takes care of
0.16 itself
0.16 it definitely seems like the sector has
0.16 cooled off a little bit here for the
0.16 past
0.16 couple months do you think that there
0.16 was just too
0.16 much excitement over the summer that
0.16 investors got a little bit
0.16 over their skis you know it&;s hard to
0.16 tell
0.16 you know it really is hard to tell i
0.16 think it still is the market
0.16 in the next 10 years i think people are
0.16 going to be buying more
0.16 evs and i think that&;s what investment
0.16 investors are looking at and so i think
0.16 it&;s it&;s it certainly is a trend going
0.16 forward
0.16 you know day to day or quarter to
0.16 quarter you know
0.16 stocks going to go in and out um
0.16 industries go in and out
0.16 and um investments kind of go up and
0.16 down so it&;s hard to kind of tell
0.16 exactly
0.16 what what the investors are looking at
0.16 sometimes
0.16 yeah and you know you can&;t necessarily
0.16 help it because
0.16 if you get caught up in being in like
0.16 the new
0.16 the new it sector the new industry you
0.16 you obviously
0.16 can&;t control that uh the other side of
0.16 that coin is it also brings about
0.16 intention
0.16 attention uh from short sellers uh and
0.16 uh and and people who are just saying
0.16 this entire industry is just
0.16 completely ahead of itself and not where
0.16 investors
0.16 value it right now uh so what do you say
0.16 to the skeptics out there who say that
0.16 whether it&;s you or or any other company
0.16 you know in
0.16 in this industry that electric vehicles
0.16 uh
0.16 is well a great idea because the
0.16 valuations of these companies yours
0.16 included are just
0.16 too high for where they should be right
0.16 now well i mean
0.16 again it&;s part of the stock market
0.16 right you have shorts out there that
0.16 uh want to make that bet sometimes um as
0.16 well and it&;s just
0.16 you know i i i can&;t tell you whether
0.16 it&;s it&;s
0.16 to me i think it is the way that the
0.16 industry is going
0.16 i think it&;s where the consumers are
0.16 going whether it be fleet customers
0.16 um that we appeal to um last mile
0.16 delivery or
0.16 just consumers overall so i think it&;s
0.16 certainly the way over the next decade
0.16 um but you know uh from
0.16 quarter to quarter and whether you&;re
0.16 short or long you know people are going
0.16 to make different bets
0.16 i don&;t know if i can really provide any
0.16 sort of uh
0.16 direction for that yeah last we had
0.16 talked i believe you had mentioned
0.16 uh of course part of your technology
0.16 aside from the trucks
0.16 is the drones you have some patents for
0.16 that
0.16 uh how is that going it&;s going well
0.16 you know from a drone uh if you want to
0.16 use a drone in a long-term commercial
0.16 business you need to get
0.16 faa certifications you need to get a
0.16 type certification and a production
0.16 certification
0.16 so that process takes about 12 to 18
0.16 months so
0.16 um we&;re going we&;re starting that
0.16 process right now and going through that
0.16 time period so
0.16 again you can do things on an exception
0.16 basis and a trial and
0.16 a pilot basis but if you want to make it
0.16 a long-term business you need to get
0.16 these certifications and that&;s the
0.16 process we&;re starting right now
0.16 how long of a process is that about 12
0.16 to 18 months
0.16 okay yeah so so you just started that
0.16 now
0.16 you&;re starting out now okay so we
0.16 should be hearing
0.16 any day now is what you&;re saying
0.16 you know good for the faas they
0.16 obviously want to make sure that these
0.16 drones are safe for everybody
0.16 from the standpoint of package delivery
0.16 um
0.16 and so they make you fly a lot i mean
0.16 people buy over 400 hours and a lot of
0.16 different missions
0.16 and um and we&;re going to be part we&;re
0.16 going to be doing that
0.16 and again in 12 to 18 months hopefully
0.16 we&;ll get certifications and then we can
0.16 actually uh
0.16 have a long-term business that we think
0.16 can be just as lucrative as the truck
0.16 business
0.16 so how does that work so ffa says fly
0.16 this drone from point to point b
0.16 drop this package here and then you do
0.16 it
0.16 well i believe they i don&;t know if i
0.16 know i don&;t know if they&;re that
0.16 specific on what you need to do on the
0.16 actual testing i do know that they make
0.16 you drop they fly make you fly over
0.16 400 hours which is a lot of flying you
0.16 know
0.16 so uh and they certainly have make sure
0.16 you have the manuals and all the backup
0.16 and and run different tests so they&;re
0.16 they&;re pretty specific and
0.16 um just like they are with an airline
0.16 you know of getting a
0.16 faa clearance so it&;s it&;s a long
0.16 process
0.16 and uh and we&;re ready to go through it
0.16 the idea of drones of course seems super
0.16 appealing in a pandemic
0.16 uh i i would certainly hope that by the
0.16 time
0.16 you get through the fda process that we
0.16 are we are past this
0.16 um by which point i&;m not sure uh
0.16 if if the appeal of if drones will be as
0.16 appealing
0.16 or do you think that&;s that&;s not the
0.16 case i will say that the interest
0.16 in the pandemic has increased
0.16 exponentially so you&;re right
0.16 you know um and and people are moving to
0.16 uh
0.16 or what they&;re asking for i guess you
0.16 should say is not only that deliveries
0.16 have
0.16 increased but they like to have
0.16 touchless
0.16 um we we do believe some of the things
0.16 that have happened in the pandemic will
0.16 be
0.16 long term but what i will say is that
0.16 even if if
0.16 some of these things fade away is i
0.16 think package delivery makes a lot of
0.16 sense just from an economical standpoint
0.16 so
0.16 a ups truck out there right now dry it
0.16 it&;s in fuel maintenance that costs a
0.16 dollar per mile
0.16 to drive those trucks our truck costs 40
0.16 cents a mile
0.16 so that&;s substantially less a drone can
0.16 do the same thing for
0.16 under four cents a mile so the economics
0.16 of using a drone
0.16 you know basically just putting my
0.16 driver put a package
0.16 um in a little basket hit a button and
0.16 have the driver drive one way in the
0.16 package go the other way go over the
0.16 package and come back to the drone
0.16 or back to the truck certainly makes a
0.16 lot of sense to uh
0.16 package delivery industry so aside from
0.16 drones what are the other
0.16 long-term ramifications for you guys
0.16 from code
0.16 you know i think long term that&;s it&;s
0.16 both businesses you know from the
0.16 standpoint delivery trucks
0.16 um just it was the fastest growing
0.16 market uh
0.16 in general it&;s growing about 15 a year
0.16 prior to the pandemic
0.16 um and now i think uh it&;s it&;s
0.16 increased more uh so i think it&;s the
0.16 delivery truck business and the drone
0.16 both
0.16 kind of have lend itself to more
0.16 deliveries and and that&;s really kind of
0.16 what
0.16 uh the pandemic i think spurred as
0.16 people staying at home getting more
0.16 deliveries
0.16 so is the bottom line for for workhorse
0.16 right now that you guys are
0.16 are in like show me mode right you
0.16 like you have the technology now you
0.16 need to actually make
0.16 the trucks is that is that the bottom
0.16 line for for your company
0.16 yeah that&;s the bottom line right now
0.16 it&;s execution right
0.16 we have the truck we have the drone we
0.16 have the truck that we&;re actually
0.16 manufacturing and delivering in this
0.16 quarter
0.16 um but we have to do it we have to
0.16 execute at the end of the day so
0.16 and then if we can build on that from a
0.16 standpoint of kind of getting
0.16 the 300 or so out here this quarter then
0.16 we can expand on that next year
0.16 you&;re not going to tell me what your
0.16 delivery guidance if you have any would
0.16 be
0.16 for next year but can you say whether or
0.16 not you will even give
0.16 delivery guidance for the next year i
0.16 think we probably will i mean i think
0.16 right now for trying to basically at 100
0.16 a month we&;ll say right
0.16 in the fourth quarter the next goal will
0.16 be how soon can you get to 200 a month
0.16 right and then even beyond that so i
0.16 can&;t can i give you a
0.16 a a month in 2021 that will be a 200 a
0.16 month
0.16 no i can&;t right now but that&;s
0.16 certainly the next goal
0.16 what are the most important numbers that
0.16 investors need to know
0.16 is it deliveries is that the biggest
0.16 thing or are there other metrics that
0.16 you think investors should be closely
0.16 watching
0.16 well i think there&;s two things i think
0.16 when you go from zero
0.16 to mass production and this is for any
0.16 manufacturer right first is kind of get
0.16 the volume up
0.16 and the next thing is when is that first
0.16 gross margin positive month right
0.16 everybody has to go through it when
0.16 they&;re not as efficient as they want to
0.16 be or
0.16 they&;re not getting the volume disk at
0.16 state discounts that they want
0.16 so that&;s what investors are looking at
0.16 i think for the most part is can you get
0.16 to the volume
0.16 that you need to get to to get that
0.16 first kind of gross margin
0.16 positive month and then be gross margin
0.16 profitable
0.16 what would be something that could
0.16 theoretically stand in the way
0.16 of of your ability to scale that
0.16 production because i obviously am not an
0.16 engineer
0.16 i do not know how hard it is though i
0.16 imagine it&;s quite hard
0.16 what is something that that could stand
0.16 in the way of that
0.16 well i think like for any manufacturer
0.16 it&;s probably going to be if you had
0.16 material disruptions
0.16 you know didn&;t get the material on time
0.16 because i think
0.16 higher in the labor you know you train
0.16 them and you get them efficient on it
0.16 and from actual assembly standpoint and
0.16 and think of ours as more sub-assemblies
0.16 in an assembly line
0.16 um yeah i think at the end of the day i
0.16 think it&;s probably would be
0.16 material disruptions possibly would be a
0.16 you know a possibility
0.16 uh and then just to wrap up here steve
0.16 what is the next
0.16 big catalyst that
0.16 is on your radar for the company for
0.16 investors it&;s probably
0.16 your next earnings report which i
0.16 imagine will be
0.16 in a few weeks or at the very least at
0.16 some point before the end of the year
0.16 uh that day it&;s not announced yet at
0.16 the time that we&;re doing this
0.16 but what is the next catalyst for for
0.16 you guys as a business is it
0.16 the usps contract is there something
0.16 else out there
0.16 well i think uh in the short term it&;s
0.16 like it&;s the uh
0.16 getting the volume up you know we&;ve
0.16 talked about the third quarter and the
0.16 earnings release we&;ve talked about
0.16 just getting a handful of trucks out our
0.16 goal was really focused towards the
0.16 fourth quarter and getting the
0.16 the labor and the materials and
0.16 everything in place and and the
0.16 production line and the set of
0.16 assemblies in place to actually produce
0.16 more volume so i think it&;s hitting the
0.16 volume that we want to hit as next
0.16 catalyst
0.16 if the post office makes an award and
0.16 we&;re part of that that&;s certainly a
0.16 catalyst
0.16 um and then moving on to 2021 and
0.16 getting more orders
0.16 as well by the end of the year so i
0.16 think those are all two or three things
0.16 to look at from our standpoint
0.16 i&;m just curious also how far out do you
0.16 feel comfortable
0.16 projecting things like delivery i mean
0.16 obviously
0.16 maybe you&;ll do it for the whole year
0.16 but
0.16 is this something that you are
0.16 comfortable projecting out
0.16 two years or anything beyond the one
0.16 year horizon or or do you have to focus
0.16 on this
0.16 sort of one year at a time i think we
0.16 have to focus on the year in front of us
0.16 we have a backlog that we have to
0.16 deliver
0.16 we&;re starting production right now on
0.16 that backlog so i think
0.16 it&;s it&;s really satisfying that&;s that
0.16 backlog
0.16 certainly with the start this quarter
0.16 and then into 2021
0.16 and if we get new orders we added that
0.16 backlog and we can go from there and and
0.16 maybe we can get uh
0.16 get a little bit longer term uh vision
0.16 from that stand
0.16 from from that standpoint but i think
0.16 right now it&;s really just kind of
0.16 getting the trucks out the door in this
0.16 fourth quarter
0.16 that&;s what i got steve schrader is the
0.16 cfo of
0.16 workhorse steve thanks a lot for time
0.16 today thank you i appreciate
0.16 it and remember zingers if you want to
0.16 keep up with
0.16 everything on electric vehicles then go
0.16 to benzynga.com
0.16 electric vehicles and you can go ahead
0.16 and stay with
0.16 everything on the move and of course if
0.16 you want to go ahead and be faster
0.16 you can go ahead and profit faster with
0.16 stock market research with benzinga pro
0.16 best part is right now you can start a
0.16 two-week trial
0.16 without even using a credit card so go
0.16 ahead and click the link and check us
0.16 out
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