Electric commercial vehicle and mobility specialist start up, Workhorse Group Inc says it has raised USD25m through a private offering of Series B preferred non-convertible stock (but the holders are entitled to annual dividends payable in shares of common stock) with a group of institutional investors.

Vehicle builder and chassis producer, Workhorse Group Inc – a subsidiary since 2013 of AMP Holdings Inc - has formed a strategic partnership with Michigan-based Prefix Corporation for the final design, development and production of its N-GEN series of all-electric medium delivery vehicles.