Electric Medium-Duty Truck Startups Motiv and Workhorse Announce Merger
Electric medium-duty truck makers Motiv and Workhorse are joining forces in a merger designed to strengthen their position against internal combustion incumbents and demonstrate that electric commercial vehicles are ready for real-world duty. Both companies have already logged millions of fleet miles, and the merger signals a shared belief that scale and integration are now essential to long-term success.
Following shareholder votes last month, Ohio-based Workhorse Group and San Francisco-based Motiv Electric Trucks have agreed to merge, creating one of the largest commercial electric vehicle manufacturers and last-mile delivery telematics providers in the industry. The all-stock transaction values the combined company at approximately $105 million and is expected to close in the fourth quarter of 2025, subject to final Workhorse shareholder approval.
Under the terms of the agreement, Motiv’s controlling investor will become the majority owner, holding about 62.5 percent of the combined entity. Workhorse shareholders will retain a meaningful stake of roughly 26.5 percent.
Strategically, the merger brings together Workhorse’s manufacturing infrastructure and nationwide dealer network with Motiv’s established product lineup and fleet relationships. The combined company will target the rapidly growing $23 billion medium-duty truck market, offering a full range of Class 4 through Class 6 electric vehicles while gaining the economies of scale needed to compete more effectively.
Motiv CEO Scott Griffith, who will lead the combined company, said the transaction strengthens the case for electric trucks by lowering costs and improving total cost of ownership for fleet customers. He described the merger as a turning point not only for the two companies, but for the medium-duty EV sector overall.
The companies expect to realize at least $20 million in cost synergies by the end of 2026, primarily through reductions in overlapping research and development, general and administrative functions, and facilities. Workhorse’s Union City manufacturing plant, capable of producing up to 5,000 trucks annually, will provide a level of scale well beyond Motiv’s current production capacity.
A core value proposition of Motiv Electric Trucks is total cost of ownership. Electric drivetrains significantly reduce fuel and maintenance expenses compared to internal combustion vehicles, while also delivering smoother operation and lower noise levels. For fleets operating in urban environments or under tightening emissions regulations, Motiv’s vehicles provide a clear pathway to compliance and long-term savings.
Motiv has also invested heavily in telematics and fleet data, enabling operators to monitor vehicle performance, energy use, and driver behavior in real time. These insights help fleets optimize routes, improve efficiency, and maximize vehicle utilization, reinforcing the business case for electrification.
A key differentiator for Workhorse is its emphasis on domestic manufacturing and service accessibility. The company’s production facility in Union City, Indiana, provides a scalable manufacturing base with the capacity to support higher-volume output as demand grows. Complementing this is a nationwide dealer and service network designed to minimize downtime and support fleet customers across multiple regions.
From a financial perspective, Workhorse positions electrification as a cost-driven decision rather than a purely environmental one. Electric drivetrains reduce fuel expenses and lower maintenance requirements by eliminating complex components such as transmissions and exhaust systems. Over the vehicle life cycle, these savings can materially improve total cost of ownership for fleet operators.
At launch, the combined company will serve 10 of the largest medium-duty fleets in North America and plans to expand into adjacent markets, including electric buses and recreational vehicles, in the years ahead.
