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18 Automotive Startups and Their Chances of Survival

Nov 1, 2018

Article

Workhorse | Chance of Success: 6.8/10

Announced: 2016 Promised: 2018

The Vehicle: The W-15 looks like a GMT900 Chevrolet Silverado accessorized by the prop master for RoboCop, with underbiting air dams and angular fender flares. It's a plug-in-electric pickup with a range-extending gasoline engine, all-wheel drive, carbon-fiber body panels, and an external power outlet for tools. Electric range is estimated at 80 miles.

Key Assets: The truck market is seemingly bottomless. The company claims it has already presold $300 million worth of W-15s, mainly to commercial fleets.

Achilles' Heels: The Tesla pickup, if it ever happens; the improbability of meeting the W-15's promised $52,500 starting price.

Notable Quote: "We wanted to get first-mover advantage. We want to beat Tesla by a few years."—Workhorse CEO Stephen Burns, in an interview with TheStreet

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